On 19 May 2014 the launched a three-month public consultation on possible modifications to the Credit Transfer () and Direct Debit (SDD) Rulebooks. The encourages all Single Euro Payments Area () stakeholders to provide feedback by 15 August 2014. The next generation rulebooks, ( Rulebook version 8.0, Rulebook version 8.0 and SDD Business to Business (B2B) Rulebook version 6.0), and associated implementation guidelines will be published in November 2014. These rulebook versions will then take effect in November 2015. In accordance with industry best practice, payment service providers () and their suppliers have a one-year lead time to address rulebook updates prior to such updates taking effect.
This blog provides an overview of the scheme change management process and includes details on how to participate in the 2014 public consultation. The links to the change request documents pertaining to the , and Rulebooks, respectively, and the related response templates are included in the ‘related links’ below.
Have your say: the three-month public consultation on possible modifications to the next generation and SDD Rulebooks starts on 19 May 2014
The develops the payment schemes, based on global technical standards made available by international standardisation bodies, in close dialogue with all stakeholders. The payment schemes as defined in the and SDD Rulebooks contain sets of rules and standards for the execution of payment transactions that have to be followed by scheme participants, i.e. that have formally adhered to the schemes. These rulebooks can be regarded as instruction manuals, which provide a common understanding on how to move funds between payment accounts within .
The and SDD Schemes evolve based on a transparent change management process adhered to by the . This evolution reflects changes in market needs and updates of technical standards developed by international standards bodies, such as the International Organization for Standardization (ISO). For detailed information on the timelines applicable to the scheme change management process, refer to the Website page, entitled ‘ / SDD Rulebook Release Management and Scheme Development’ (see ‘related links’ below).
The scheme change management process provides all stakeholders with the opportunity to participate from an early stage; i.e. to introduce suggestions for changes to the schemes. All interested parties had been invited to submit suggestions for changes proposed to be incorporated into the next version of the and SDD Rulebooks by 28 February 2014. To obtain an overview of the suggestions for possible modifications to the and SDD Rulebooks received by that date, refer to the article ‘Next Generation and SDD Rulebooks: Three-Month Public Consultation Starts on 19 May 2014’ published with the April 2014 edition of the Newsletter (see ‘related links’ below).
All suggestions for changes to the rulebooks that were received by 28 February 2014 have been evaluated by the Payment Schemes Working Group and consolidated into a single change request document per rulebook (the Rulebook, the Rulebook and the Rulebook). As with previous scheme change cycles, all proposed changes to the schemes are released with the change request documents for a three-month public consultation. All stakeholders are encouraged to participate in the public consultation on the possible changes to be introduced into the next version of the rulebooks.
The 2014 public consultation on possible modifications to the and SDD Rulebooks takes place between 19 May and 15 August 2014. The links to the change request documents and the related response templates are included in the ‘related links’ below. All interested parties are invited to complete the response template provided with each change request document. The completed response template per change request document should be sent by email to change-request.EPCemail@example.com by 15 August 2014.
Proposed changes to the schemes that find broad acceptance in the entire stakeholder community and are technically and legally feasible are taken forward. Proposed changes that lack such broad support are not – regardless of whether such a change is proposed by a or by a user representative. This ensures that the and SDD Schemes evolve in line with the requirements of the majority of all market participants.
Regulation () No 260/2012 (the Regulation) empowers the European Commission to amend the technical requirements applicable to and SDD
In February 2012, the European Union (EU) co-legislators, i.e. the European Parliament and the Council of the EU representing EU Member States, adopted the ‘Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro’. The and SDD Schemes have to comply with the technical requirements detailed in Article 5 and in the Annex to this Regulation. It remains the ’s objective to ensure that the and SDD Rulebooks evolve in response to proven market needs, based on a predictable release schedule. The must, however, clarify that moving forward, it may be required to adapt the rulebook release schedule at short notice to ensure compliance with technical requirements set out in the Annex to the Regulation (EU) No 260/2012, also known as the Regulation, as amended by the European Commission or with any other relevant EU legislation.
EPC Newsletter (April 2014): Next Generation SCT and SDD Rulebooks: Three-Month Public Consultation Starts on 19 May 2014. All stakeholders are invited to provide feedback on possible modifications to the SCT and SDD Rulebooks (this article provides an overview of the suggestions for possible modifications to the and SDD Rulebooks received by 28 February 2014)
EPC Newsletter (April 2014): Join the Debate on the Further Evolution of the SCT and SDD Schemes: Less Flexibility, More Harmonisation? An overview of the options, variations, exceptions and exemptions possible in SEPA today
If you would like to comment on this article, please identify yourself with your first and last name. Your name will appear next to your comment. Email addresses will not be published. Please note that by accessing or contributing to the discussion you agree to abide by the EPC website conditions of use.