Next Version of SEPA Credit Transfer Rulebook available for public con...

Next Version of SEPA Credit Transfer Rulebook available for public consultation

24 October 13

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After the successful 28 January launch of the Credit Transfer () Scheme, a draft version 3.2 of the SCT Rulebook - intended for roll-out on 1 February 2009 - is now available.

A change request document on the amendments proposed to the current version of the Rulebook (v2.3) is being published for a 90-day public consultation period. It includes a marked-up copy of the draft Rulebook showing the differences from the current Rulebook. Comments may be made at any time during this period.

Following this the feedback from stakeholders will be analysed. The draft Rulebook will then be finalised and submitted for approval at the Plenary meeting on 24 June 2008. If approved it will be published shortly thereafter, leaving a six-month 'freeze' period ahead of implementation. Feedback will be given to commenting parties.

The Change Request document describes how the change management process works and breaks down the changes into a number of categories and explains the rationale behind these. It is accompanied by the Implementation Guidelines, also showing the effect of the proposed changes. A clean version of the Rulebook is also available. In addition, a template is provided for use in supplying with any comments or suggestions on the proposed amendments.

This new version of the Rulebook features further improvements in response to requests from the market with the inclusion of information on the originator and beneficiary reference parties in the messages, and the addition of purpose codes (as defined in ISO 20022) that will allow payments such as salaries, for example, to be identified by bank's clients for reconciliation purposes.

At the same time and in the same vein, work on the harmonisation of customer to bank file format specifications is progressing well and the support of a future ISO creditor reference standard is envisaged.

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