The European Payments Council ( ) released updated versions of the Credit Transfer ( ) and Direct Debit ( ) Rulebooks and associated implementation guidelines ( ) to take effect in February 2014. The related to the Rulebook version 7.0, the Core Rulebook version 7.0 and the Business to Business (B2B) Rulebook version 5.0 published in November 2012, are based on the 2009 version of ISO 20022. Links to the updated rulebook versions and associated to take effect in February 2014 are available with this Blog (see below).
Based on the established release management cycle, the updated versions of the rulebooks published in November 2012, would normally take effect on 16 November 2013. Single Euro Payments Area ( ) stakeholders in the euro area however, are currently working towards achieving compliance with the European Union ( ) 'Regulation ( ) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009' (the Regulation) by 1 February 2014. As a result, and as previously communicated, the decided to postpone the effective date for the Rulebook version 7.0, the Core Rulebook version 7.0 and the B2B Rulebook version 5.0 and associated , from 16 November 2013 to 1 February 2014. This allows market participants sufficient time to adapt their systems and operations to comply with both the Regulation and the updated versions of the rulebooks.
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