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Matt White

Matt White - Finextra

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EBAday is the annual event for European payments professionals run by Finextra in conjunction with the Euro Banking Association. This community has been created to deliver a forum for EBA delegates to exchange views on Sepa and new developments in payments processing.

EBAday: a single migration end-date for Sepa?

16 June 2011  |  5394 views  |  0

For the first time in a long time Sepa hasn't really dominated EBAday. Finally, it seems, we're nearly there on migration end-dates and can start concentrating on other matters.

The EC's Michael Thom told delegates at the migration session that the commission is now ready to get down to negotiations with the European Parliament and an agreement should be hammered out by the autumn.

There is one issue that needs to be resolved: should there be a single end-date for Sepa credit transfers and direct debits or two separate ones. The parliament wants one, the bank representatives on the panel want one and tell us their customers want one as well. On the other side of the fence sits the EC, which has always talked about having two.

Thom seemed relaxed about this and my guess is that the EC won't ‘negotiate' too hard on this issue. So, best bet could be a single deadline in 2014.

In fact, after some acrimony over the years, there appeared to be a general air of reconciliation in the room. Thom assured everyone that the EC doesn't want to step on EBA toes, asking delegates not to see the EC as the enemy and also offered some reassuring words on the possible ditching of the EUR50,000 thresholds so unloved by the banks.

The mood was perhaps best summed up by another speaker who suggested that maybe everyone is just fed up with the wrangling and wants an agreement in place - any agreement.

TagsPaymentsWholesale banking

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