New version of the Clarification Paper on SCT and SCT Inst

New version of the Clarification Paper on SCT and SCT Inst

09 April 20

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Today the European Payments Council ( ) published the version 1.5 of the clarification paper on Single Euro Payments Area ( ) Credit Transfer ( ) and Instant Credit Transfer ( ) rulebooks. The paper applies to the current applicable 2019 and rulebooks and provides guidance and, where feasible, recommendations to scheme participants on how to handle situations that are not described in the rulebooks.

The paper addresses operational aspects related to the and rulebooks and seeks to ensure consistent implementation of the two credit transfer rulebooks by payment service providers participating in the schemes.

The paper now contains an additional section about the inquiry process. A new section 3.4 provides scheme participants with a temporary workaround for Beneficiary Banks in case they want to send a positive response to a ‘Claim for Value Date Correction’ inquiry. Beneficiary Banks have pointed out they cannot claim their administrative fees for a value date correction prior to the correction itself of that value date.

A more permanent solution for this issue has been presented as an change request for the 2020 scheme rulebook change management cycle.

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