The European Banking Authority (EBA), the EU’s banking regulatory body, has published a Decision aimed at standardising how national regulators report data under the SEPA Regulation.
The Decision establishes a single reporting channel through the EBA, meaning National Competent Authorities (NCAs) will now submit SEPA data exclusively to the EBA, which will then pass it on to the European Commission. The measure is designed to reduce the administrative load on NCAs whilst ensuring both institutions receive consistent, high-quality data. It also clarifies that where NCAs already hold some of the required information, they are responsible for verifying its accuracy and completeness without needing to re-collect it from Payment Service Providers (PSPs).
The Decision complements an existing European Commission Implementing Regulation that requires all PSPs to report data covering charges for credit transfers and payment accounts, as well as the proportion of transactions rejected due to EU sanctions. The new measure addresses the second stage of that reporting process — the flow of information from NCAs to the EBA and the Commission.
The EBA said the change supports the Commission’s ability to monitor whether consumers across the EU have access to instant credit transfers, and that those transfers are not priced higher than standard credit transfers. The Decision also amends the annex to the EBA’s EUCLID Decision to incorporate the new reporting requirement, and took effect immediately upon publication.
The EBA is the European Union’s authority responsible for overseeing prudential regulation and supervision across the EU banking sector, working to maintain financial stability and ensure effective, consistent regulatory standards.
The Decision draws its legal basis from Article 15(3) of the SEPA Regulation, which requires PSPs to report annually on credit transfer charges and sanction-related rejections, and from Article 15(4), which obliges competent authorities to share that information with both the Commission and the EBA. Article 53 of the EBA Regulation, which sets out the responsibilities of the EBA Executive Director — including implementation of the annual work programme and adoption of internal administrative instructions — also forms part of the legal foundation.
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