The European Banking Authority, ECB, and national authorities have signed a Memorandum of Understanding to enhance cooperation and support non-bank payment service providers’ access to central bank payment systems.
The European Banking Authority (EBA), the European Central Bank (ECB), national central banks, and national supervisory authorities across the European Economic Area have signed a Memorandum of Understanding (MoU).
The MoU aims to strengthen cooperation and information sharing to support non-bank payment service providers’ (PSPs) access to central bank-operated payment systems.
This multilateral agreement establishes clear principles for collaboration and harmonizes processes and procedures for information exchange between national supervisory authorities and central banks regarding non-bank PSPs’ participation in payment systems operated by central banks.
The harmonized approach seeks to ensure consistent outcomes and create a level playing field in the European payments market.
