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Euro Banking Association issues guide to SEPA Migration End-Date Regulation

EBA publication describes key areas of impact for banks and customers

Paris and Edinburgh, 15th May 2012 –The Euro Banking Association (EBA) announced today the publication of its guide to the SEPA Migration End-Date Regulation. Banks Preparing for SEPA Migration was issued at the payments conference and exhibition EBAday in Edinburgh today. It gives an overview of the key implications of the new Regulation, which entered into force in the European Union on 31st March 2012 and whose key requirements will need to be implemented by payment service providers across Europe over the next few years.

“The SEPA migration end-date set by the new Regulation is only 20 months away. That is why it is of crucial importance for the European payments industry to fully grasp the business and technical requirements defined by this legislation,” said Björn Flismark of SEB, who chairs the EBA working group that delivered the new publication. “With our guide, we would like to contribute to this understanding by providing an easy-to-read overview of these requirements and of their impact on banks and customers.”

Banks Preparing for SEPA Migration has been compiled with the support of payment practitioners representing EBA banks from 10 European countries. The guide describes the key issues around the new Regulation with the help of explanatory illustrations and overview tables. It also includes take-away recommendations for payment service providers and offers clarifications around a couple of “myths” about this new legal text.

Banks Preparing for SEPA Migration can be downloaded as a PDF document from the EBA website at www.abe-eba.eu. Paper copies are available at EBAday (stand 39) or may be requested via e-mail (association@abe-eba.eu).

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