With migration to harmonised Single Euro Payments Area () payment schemes in the euro area complete, the European Payments Council () resolved in October 2014 to adapt its current structure to further enhance governance and stakeholder involvement. The primary objective of this process is to ensure that the continues to be best equipped to perform its main task, i.e. to manage the Credit Transfer () and Direct Debit () Schemes, in an efficient and transparent manner. (For more information, refer to the Newsletter article included in the ‘related links’ below.)
The principles governing the administration and evolution of the and Schemes are set out in the Scheme Management Internal Rules (SMIRs), which are included as an Annex to the , Core and Business to Business Rulebooks. The SMIRs are binding on both the and the scheme participants, i.e. payment service providers that have formally adhered to the and Schemes.
On 31 October 2014, the launched a 90-day consultation among scheme participants on the draft revised SMIRs amended in line with the new governance model.
The draft revised SMIRs reflect, amongst others, certain changes to funding and governance aspects of the and Schemes. The proposed revisions to the SMIRs were adopted by the Plenary in October 2014, subject to carrying out a public consultation in accordance with the process foreseen under section 3 of the SMIRs currently in place (EPC027-07). For detailed information, refer to the draft revised SMIRs (EPC207-14) available in clean and black lined versions and the ’s letter to scheme participants (Letter 078-14). These files can be downloaded following the first 'related link' below.
Scheme participants are invited to submit comments to the in the context of this public consultation by 30 January 2015 through their national banking communities. The will review all comments received and subsequently conclude on a final text of the revised SMIRs. The will also prepare a feedback report on the consultation which will be made publicly available on the Website.
The final revised SMIRs will become effective 30 calendar days after the approval of the final text by the , i.e. before the end of the first quarter of 2015.
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