The European Banking Authority (EBA) has published a consultation on the draft regulatory technical standards (RTS), specifying the framework for the co-operation between competent authorities under the revised Payment Services Directive (PSD2).
The proposed framework aims to ensure co-operation between supervision of payment institutions operating across borders by:
- specifying the procedure for the requests and replies for cooperation and exchange of information between competent authorities, including single contact points, language, standardised forms and timelines; and
- setting out the periodical reporting requirements, divided into two sets of information that host competent authorities can request from payment institutions operating in their territories via agents or branches.
The consultation closes on 5 January 2018.