EPC Public Consultation: EPC Launches Annual Three Month Public Consul...

EPC Public Consultation: EPC Launches Annual Three Month Public Consultation on Possible Modifications to the SEPA Credit Transfer and SEPA Direct Debit Rulebooks.

24 October 13

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On 16 May 2012, the European Payments Council () launched the annual public consultation on possible modifications to the Credit Transfer () and Direct Debit (SDD) Scheme Rulebooks. The encourages all Single Euro Payments Area () stakeholders to provide feedback by 13 August 2012.

To date, the develops the payment schemes and frameworks, based on global technical standards made available by international standardisation bodies, in close dialogue with the customer community. 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 adhering payment service providers (). These rulebooks can be regarded as instruction manuals which provide a common understanding on how to move funds between bank accounts within . The and SDD Schemes evolve over time based on a transparent change management process adhered to by the . This evolution reflects changes in market needs and updates of technical standards. For details on the principles governing the annual scheme change management cycle, refer to the Scheme Management Internal Rules (see below).

Any stakeholder may introduce suggestions for changes to the and SDD Rulebooks. All suggestions for changes to the rulebooks are evaluated by the Payment Schemes Working Group and consolidated into a single change request per rulebook (the Rulebook, the Rulebook and the SDD Business to Business Rulebook). In addition, the publishes a change request which details proposed changes to the Scheme Management Internal Rules:

  • Rulebook Change Request Consultation Document 2012 (see below): to share your feedback on this Change Request, please complete the online questionnaire posted at http://www.smart-survey.co.uk/v.asp?i=52371yemfd.
  • Rulebook Change Request Consultation Document 2012 (see below): to share your feedback on this Change Request, please complete the online questionnaire posted at http://www.smart-survey.co.uk/v.asp?i=52410djgse.
  • Rulebook Change Request Consultation Document 2012 (see below): to share your feedback on this Change Request, please complete the online questionnaire posted at http://www.smart-survey.co.uk/v.asp?i=52471iyxtm.
  • Scheme Management Internal Rules Change Request Consultation Document 2012 (see below): to share your feedback on this Change Request, please complete the online questionnaire posted at http://www.smart-survey.co.uk/v.asp?i=52472mdfbv.

Should you encounter any technical difficulties in accessing or completing the questionnaires, please contact the Secretariat at secretariat@epc-cep.eu. Proposed changes detailed in the change requests, which are broadly accepted by all stakeholders, are taken forward. The updated versions of the and SDD Rulebooks will be published in November 2012. In accordance with industry best practice, and their suppliers have a one-year lead time to address rulebook updates prior to such updates taking effect.

In February 2012, the European legislator adopted the 'Regulation (EU) 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). The and SDD Schemes will have to comply with the technical requirements detailed in Article 5 and in the Annex to the Regulation. Some of the change suggestions submitted with this year's public consultation have been introduced by the in order to ensure the schemes' compliance with the Regulation.



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