EBA Consults on Draft RTS and ITS on EBA Electronic Central Register Under PSD2


On July 24, 2017, the EBA published a consultation paper on the draft regulatory technical standards (“RTS“) and implementing technical standards (“ITS“) on the EBA electronic central register under the revised Payment Services Directive (“PSD2“) ((EU) 2015/2366) (EBA/CP/2017/12).

Under Article 15(1) of PSD2, the EBA is required to develop, operate and maintain an electronic central register that contains information as notified by competent authorities (“CAs“). PSD2 also mandates the EBA to develop RTS and ITS relating to the register.

The draft RTS set out requirements relating to:

  • Access to the register by the various users of the register.
  • The provision of information by CAs to the EBA, and validation of that information.
  • Safety, availability and performance of the register.
  • Responsibilities of the EBA concerning the management and maintenance of the register.
  • The search of information in the register and the display of search results.

The EBA’s proposed approach is a technological solution that will support both manual insertion and automated transmission of information by CAs to the EBA.

Having assessed the existing national practices related to the operation and maintenance of the national public registers under the current Payment Services Directive (“PSD“) (2007/64/EC), the EBA has concluded that the ITS should specify the type, and format, of information that will be contained in the register for:

  • Payment and electronic money institutions and their agents.
  • Exempted payment and electronic money institutions and their agents.
  • Branches of payment institutions, electronic money institutions and account information service providers (“AISPs“) providing services in a host member state.
  • AISPs and their agents.
  • Providers of services based on specific payment instruments that can be used only in a limited way.
  • Providers of electronic communication networks executing payment transactions or providing services in addition to electronic communications services.

The EBA is holding a public hearing on September 4, 2017. The consultation closes to responses on September 18, 2017.