At its meeting on 18 June 2014, the Plenary of the European Payments Council () appointed Javier Santamaría for a second term as Chair. The Plenary elected Narinda You as Vice Chair. Ms You succeeds former Vice Chair Günther Gall who will be retiring following completion of his term in office. Ms You and Mr Santamaría commenced their two-year term on 18 June 2014. The Plenary is the decision-making body of the .
Narinda You has served as a member of the Plenary since 2004. Ms You is Secretary General and Head of Interbank Relations at Crédit Agricole – Global Transaction Services. Prior to joining Crédit Agricole, she worked with Crédit Lyonnais where her extensive portfolio featured assignments in corporate banking, communication and marketing as well as corporate market organisation and governance. With Crédit Lyonnais, Ms You also held the position as Head of Market Infrastructures and Innovation. In addition to the , Ms You represents Crédit Agricole in various other industry bodies both at national and European level including in the Euro Banking Association and the French Banking Federation. Ms You chairs the Payments Services Working Group of the European Association of Co-operative Banks.
Chair Javier Santamaría comments: “On behalf of the I would like to express my respect and gratitude for the invaluable contributions of Günther Gall during his tenure as Vice Chair. His advice and support, reflecting forty-five years of experience in all aspects of payments, were instrumental at a time when market participants in the euro area were preparing to achieve Single Euro Payments Area () compliance by the formal 1 February 2014 deadline mandated by European Union (EU) law.”
Javier Santamaría adds: “Narinda You and I are very honoured to have the opportunity to continue the important work aimed at promoting the integration of the euro payments market together with the members. The remains committed to contributing, together with all other stakeholders, to the creation of an efficient and secure payments landscape, which responds to market needs.”
Vice Chair Narinda You says: “I very much look forward to supporting the in this new role at this juncture in the process. With migration to in the euro area nearly complete it has to be kept in mind however, that this does not mark the end of the process.”
“The focus going forward is to ensure meeting the 1 February 2016 deadline regarding the migration of so-called niche products, where applicable. On that date, also possible exemptions regarding the use of the International Bank Account Number (IBAN), the Business Identifier Code (BIC) and the ISO 20022 message standards will expire. Last but not least, market participants in non-euro countries must comply with the requirements by 31 October 2016,” she points out.
Narinda You stresses: “Meeting these next deadlines established by the lawmakers requires continued and coordinated efforts by the public authorities driving the process, the representatives of payment services users as well as banks and other service providers.”
(The ‘Regulation () No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro’ (the Regulation) stipulates that credit transfer and direct debit transactions with a cumulative market share of less than 10 percent in an Member State that were granted a waiver must comply with the provisions set out in this legislative act only by 1 February 2016. The Regulation has also introduced several exemptions regarding the use of the IBAN, the BIC and the ISO 20022 XML message standards by the February 2014 deadline. Member States have discretion as to whether they will use any or all of the options to derogate from the 1 February 2014 deadline (until 1 February 2016) with regard to the use of the IBAN, the BIC and the ISO 20022 XML message standards by payment service users.)
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.