SEPA Maatschappelijk debat over het Betaalverkeer. Débat sociétal sur les moyens de paiement. Nationale Bank van België Banque nationale de belgique

Presentation NBB 26 April / 27 INLEIDING

Presentation NBB 26 April / 27 SEPA migratie in België ► Maatschappelijk overleg Betaalverkeer (MoB) ● SEPA werkgroep  overheden  consumenten  bedrijfssector ► Doel van vandaag ● Informatie verschaffen over Algemene vooruitgang van SEPA Nieuw voorstel van Europese Verordening Niet-commercieel gerelateerde vragen

Presentation NBB 26 April / 27 SEPA, stand van zaken

Presentation NBB 26 April / 27 State of play - SCT

Presentation NBB 26 April / 27 State of play - SCT

Presentation NBB 26 April / 27 State of play - SCT ► Last figures in Belgium: 38.8% (March 2011) ► 01/01/2011: stop processing old paper forms ► New folder on SCT migration

Presentation NBB 26 April / 27

Presentation NBB 26 April / 27 State of play - SDD

Presentation NBB 26 April / 27 State of play - SDD

Presentation NBB 26 April / 27 State of play - Cards ► Several initiatives are under way with a view to creating an additional European card scheme within SEPA ● Monnet ●

Presentation NBB 26 April / 27 State of play - Cards ► Existing card schemes (both domestic and international) can also become SEPA- compliant (EPC Cards Framework) ► Bancontact/MisterCash: decision to become SEPA compliant Press release

Presentation NBB 26 April / 27

Presentation NBB 26 April / 27 State of play - ISABEL

Presentation NBB 26 April / 27

Presentation NBB 26 April / 27

Presentation NBB 26 April / 27

Presentation NBB 26 April / 27 European developments ► SDD Fixed amount scheme ● EPC scheme ● Code of conduct ? ► Card standardisation ● "Volume": Book of Requirements (functional and security standards requirements) ● Charging principles for cards + Guidance by the European Commission ► European Commission's proposal on an end- date for migration to SEPA

Presentation NBB 26 April / 27 European Commission's proposal on an end-date for migration to SEPA

Presentation NBB 26 April / 27 SEPA legal framework ► Payment Services Directive 2007/64/EC (PSD) ● Wet betreffende de betalingsdiensten/Loi relative aux services de paiement Transparantie en informatievereisten Rechten en plichten bij het gebruik van betalingsdiensten  Aansprakelijkheid  Uitvoeringstermijnen en valutadatum ● Wet betreffende het statuut van de betalingsinstellingen /Loi relative au statut des établissements de paiement creatie van statuut van de betalingsinstelling ► Regulation 924/2009 on cross border payments ● Equal charges for national and cross border payments ► Proposal for a Regulation establishing technical requirements for credit transfers and direct debits in euros

Presentation NBB 26 April / 27 Regulation of the European Parliament and of the Council ► Proposal for a Regulation establishing technical requirements for credit transfers and direct debits in euros ► Proposition de Règlement établissant des exigences techniques pour les virements et les prélèvements en euros ► Voorstel voor een Verordening tot vaststelling van technische vereisten voor overmakingen en automatische afschrijvingen in euro

Presentation NBB 26 April / 27 Regulation of the European Parliament and of the Council ► Proposal from the Commission -16 December 2010 ► Currently : work in progress both at the level of the Council and of the Parliament ► Next steps : agreement on the text between Council and Parliament and formal approval by both institutions, in first reading (?) ► Timing for approval : end beginning 2012 ?

Presentation NBB 26 April / 27 Regulation, article 1 ► Article 1: scope ● credit transfers and direct debit in € within the EU both legs in the EU ● out of scope: cards, mobile payments, money remittance, e-money

Presentation NBB 26 April / 27 Regulation, article 5 & 5a ► Article 5a: End dates ● "Credit transfers shall be carried out in accordance with the requirements... by 1 February 2013" ● "Direct debits shall be carried out in accordance with the requirements... by 1 February 2014" ► Technical requirements in Annex ► "Requirements": more or less in line with European Payment Council (EPC) Rulebooks ● Use IBAN & BIC ● Use ISO20022 ●...

Presentation NBB 26 April / 27 Regulation, article 5 & 5a, continued ► "Requirements": more or less in line with European Payment Council (EPC) Rulebooks ● Direct debits "... payers shall have the possibility to:  instruct their PSP to limit a direct debit collection to a certain amount or periodicity, or both;  request their PSP, where there is no refund right according to the PSD, to verify each direct debit transaction and to check whether the amount of the submitted direct debit transaction is equal to the amount agtreed in the mandate;  instruct their PSP to block any direct debits to their account or to block any direct debits coming from one or more specified payees or to autorise direct debits only coming from one or more specified payees." ● "The PSP shall ensure that a Payment Service User (PSU) that is not a customer or a micro-enterprise, and initiates or receives individual credit transfers or direct debits which are bundled together for transmission, uses message formats ISO20022."

Presentation NBB 26 April / 27 Regulation, article 3 & 8 ► Article 3: Reachability ● "... the payment service provider (PSP) of the payee... shall be reachable... for credit transfers... initiated... in any member state... " ● "... the payment service provider (PSP) of the payer... shall be reachable... for direct debit transactions... initiated by a payee... in any member state... " ► Article 8: Payment accessibility ● "A payer making a credit transfer up to € to a payee with a payment account located within the Union shall not specify in which member state the that payment account should be located..." ● " A payee using a direct debit to collect funds up to € from a payer with a payment account located within the Union shall not specify in which member state that payment account should be located.. " ► Conclusion: ● Credit transfers have to be credited on an account regardless where the account is held ● Direct debit can be made regardless where the payee/payer hold their account

Presentation NBB 26 April / 27 Regulation, article 6 ► Article 6: Interchange fees for direct debit transactions ● "the aim of the European Commission is to create neutral conditions for competition between PSP's" ● "... no multilateral interchange fees per direct debit transaction or other agreed remuneration with an equivalent object or effect shall apply to direct debit transactions." Exception for "R-transactions"

Presentation NBB 26 April / 27 Regulation, article 17 ► Transitional provisions ● Credit transfer niche products (less than 10%, 01/08/2015) ● Direct Debit niche products (less than 10%, 01/08/2016) ● Allow PSPs to provide conversion services for national payment transactions to consumers ● Non-euro area countries

Presentation NBB 26 April / 27 Regulation: conclusions ► Proposal = subject to changes by ● European Parliament ● Council ► Strict deadlines expected ► Use of ISO20022 ► Time to ● Start migration to SCT for those who did not yet start ● Plan SDD migration

Presentation NBB 26 April / 27 Next steps ► Next meeting: September ● latest amendments of text available ● Overview status of migration ● Experiences to be shared

Presentation NBB 26 April / 27 Info en Contactpersonen ► uw bank... ► Febelfin ● ► NBB ● ● Jan Vermeulen tel ● Axelle Waterkeyn tel ● ► European Commission ● ► EPC ●