Skip to the text

2020/1423 — RTS — Central contact points [in force]

Financial servicesLevel 2RTSPSD2In forceVerifiedOfficial source

COMMISSION DELEGATED REGULATION (EU) 2020/1423 of 14 March 2019 on supplementing Directive (EU) 2015/2366 of the European Parliament and of the Council with regard to regulatory technical standards on the criteria for appointing central contact points within the field of payment services and on the functions of those central contact points (Text with EEA relevance)

Recitals

  1. The requirement to appoint a central contact point in accordance with Article 29(4) of Directive (EU) 2015/2366 should be proportionate to achieving the aims pursued by that Directive, without creating unnecessary burdens on payment institutions operating cross-border. Therefore, it is appropriate to specify proportionate criteria in the form of thresholds relating to the volume and value of the transactions carried out in the host Member State through agents and to the number of agents established in the host Member State. As the competent authority of the host Member State can require payment institutions to report on the activities carried out in the territory of that Member State pursuant to Article 29(2) of Directive (EU) 2015/2366, that authority has the means to obtain the information necessary for applying such criteria. Therefore, those thresholds should be laid down to supplement Article 29(4) of Directive (EU) 2015/2366.

  2. Where the appointment of a central contact point is required by a Member State pursuant to Article 29(4) of Directive (EU) 2015/2366, that central contact point should primarily ensure adequate communication and information reporting on compliance with the requirements laid down in Titles III and IV of that Directive in the host Member State, including the reporting obligations of the appointing payment institution towards the competent authorities of the host Member State. It should also have a central coordinating role between the appointing payment institution and the competent authorities of the home and the host Member States in order to facilitate supervision of the payment services business conducted in the host Member State through agents under the right of establishment. To that end, the payment institution should ensure that the central contact point is given the necessary resources and has access to the relevant reporting data to comply with its obligations under Directive (EU) 2015/2366.

  3. This Regulation is based on the draft regulatory technical standards submitted by the European Banking Authority (EBA) to the Commission.

  4. EBA has conducted open public consultations on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council,

Article 1 — Criteria for determining when the appointment of a central contact point is appropriateArticle page

For the purposes of Article 29(4) of Directive (EU) 2015/2366, requiring payment institutions to appoint a central contact point shall only be considered appropriate where one or more of the following criteria is met:

1(a)
(a)the total number of agents through which a payment institution provides any of the payment services referred to in Annex I to Directive (EU) 2015/2366 in a host Member State under the right of establishment is equal to or exceeds 10;
Copy link
1(b)
(b)the total value of payment transactions, including payment transactions initiated when providing payment initiation services, carried out by a payment institution in the host Member State in the last financial year through agents located in the host Member State and operating under either the right of establishment or the freedom to provide services, exceeds EUR 3 million and the payment institution has engaged at least two of those agents under the right of establishment;
Copy link
1(c)
(c)the total number of payment transactions carried out by a payment institution in the host Member State in the last financial year through agents located in the host Member State and operating under either the right of establishment or the freedom to provide services, including the number of payment transactions initiated when providing payment initiation services, exceeds 100 000 and the payment institution has engaged at least two of those agents under the right of establishment.
Copy link

Article 2 — Functions of the central contact pointArticle page

2(1)

1.A central contact point that is appointed pursuant to Article 29(4) of Directive (EU) 2015/2366 shall carry out each of the following functions:

Copy link
2(1)(a)
(a)it shall serve as single provider and single point of collection for the purposes of the reporting obligations of the appointing payment institution towards the competent authorities of the host Member State pursuant to Article 29(2) of Directive (EU) 2015/2366 in relation to services provided in the host Member State through agents under the right of establishment;
Copy link
2(1)(b)
(b)it shall serve as single point of contact of the appointing payment institution in communications with the competent authorities of the home and host Member States, in relation to the payment services provided in the host Member State through agents under the right of establishment, including by providing competent authorities with documents and information on request;
Copy link
2(1)(c)
(c)it shall facilitate the on-site inspections by competent authorities of the agents of the appointing payment institution operating in the host Member State under the right of establishment and the implementation of any supervisory measures adopted by the competent authorities of the home or host Member States pursuant to Directive (EU) 2015/2366.
Copy link
2(2)

2.Payment institutions shall ensure that a central contact point possesses the necessary resources and has access to all the data necessary for the performance of the functions set out in Article 29(4) of Directive (EU) 2015/2366 and specified in paragraph 1 of this Article.

Copy link

Article 3 — Entry into forceArticle page

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.