About EBA
The Euro Banking Association (EBA) today released the findings of the EBA survey on cross-border payments initiatives. The survey was developed by the EBA Expert Group on Cross-Border Payments (EGXP) and was conducted earlier this year. The EBA invited its member banks to provide feedback on two core aspects: the extent to which relevant industry initiatives could improve cross-border payments in line with the targets and objectives of the G20 Roadmap and the prerequisites needed for the market adoption of these initiatives.
The Euro Banking Association (EBA) today released a new report by its Digital Currencies & Smart Payments Working Group.
“Re-inventing money: Considerations on future requirements for new forms of digital money” explores future requirements for new forms of digital money with a focus on its use for corporate customers.
The report investigates how technological innovations are transforming not only the banking industry at large, but money itself. Distributed Ledger Technology (DLT) is at the heart of this transformation but continues to pose challenges for financial institutions and their corporate customers.
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.
In May 2024, the EBA ran a stocktaking survey on cross-border payment initiatives among its member banks. First findings from this survey are available in the following sneak preview slideset:
At the EBA Annual General Meeting 2023, EBA Board Member Krister Billing (SEB) was elected Deputy Chairperson. He succeeds José Vicente (Banco Comercial Português) who has retired from the EBA Board.
Furthermore, EBA Board members Yvonne Barrie (Bank of Ireland), Cristina Conde Yubero (CaixaBank), Claudio Magnaghi (Banco BPM), Simon McConnell (Citibank Europe) and Edwin Sanders (Rabobank) were re-elected for another three-year term.
Download the Report of the Board to learn more about the EBA’s activities in 2023.
The Euro Banking Association (EBA) today issued version 5.0 of the EBA Fraud Taxonomy, which will take effect on 1 January 2025. The taxonomy offers a common pan-European vocabulary and categorisation approach to describe fraud scenarios related to all kinds of payments, including card transactions. It has been developed by the Association’s Expert Group on Payment Fraud-related Topics (EGPF) representing financial institutions from 15 European countries.
The Euro Banking Association (EBA) announced today the publication of recommendations aimed at improving Know Your Customer (KYC) practices in the corporate-to-bank domain across Europe with regard to the identification and handling of Politically Exposed Persons (PEPs), their family members and close associates.
The new publication by the EBA Expert Group on KYC-related Topics (KYCEG) titled “EBA CBCS – Identification of Politically Exposed Persons (PEPs) in the corporate-to-bank KYC process” is part of the Common Baseline Classification Standard recommendations series and available for download on the EBA website.
Volume 18 Number 1 of the Journal of Payments & Strategy Systems by Henry Stewart Publications contains two peer-reviewed articles by the EBA.
In “A pan-European fraud taxonomy: Do you speak fraud?“, Annick Moes and Meral Ruesing make the case for harmonising fragmented fraud terminologies and PSP-internal reporting requirements. Thomas Egner co-authored the article “Know your customer: Unravelling the challenges” which explores how EU member states can make a joint effort to help the financial industry prevent money laundering and combat the financing of terrorism more efficiently.
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