EBA issues practitioners’ recommendations for euro instant payments requiring FX conversion
The Euro Banking Association (EBA) released a recommendation note for euro instant payments requiring FX conversion.
The note was put together by a sub-group of the EBA Practitioners Group on Instant Payments, and spells out how foreign exchange (FX) experts and other payment practitioners understand the regulation obligations impacting these 24/7/365 real-time transactions.
Based on this understanding, the note provides practical recommendations for the operational handling of these transactions.