achievIng SEPA and psd compliance

Many regulatory and self-regulatory steps have been taken towards establishing a single European payment market since the launch of the euro in 1999.

The EBA decided in early 2006 to create a working group composed of payment practitioners that would look at the requirements banks need to meet in order to operate in this emerging payment environment and comply with the new rules and provisions being put in place.  The aim of the EBA Working Group on SEPA and PSD Compliance is to provide banks with concise overview documents highlighting the main areas and issues that banks need to study in detail in order to plan and implement the necessary changes at the different levels of their organisations and achieve compliance.

While the working group's initial set of publications in 2006 and 2007 focused on the Single Euro Payments Area (SEPA) initiative of the European Payments Council (EPC), its scope was broadened in early 2008 to also cover the Payment Services Directive (PSD) of the European legislators in more detail.