EBA Q&A 2019_4691 — Q&A — Interpretation of the words ‘preceding year’ [Rejected question]

Interpretation of the words ‘preceding year’ in Method B under Article 9(1) of the PSD2

Question

How should the words ‘preceding year’ be interpreted in Method B under Article 9(1) of the PSD2?

Background

According to Article 9(1) of the PSD2, Method B shall be calculated based on the payment volume, “where payment volume (PV) represents one twelfth of the total amount of payment transactions executed by the payment institution in the preceding year”. The words ’preceding year’ In Method B may either be interpreted as meaning previous calendar year, previous twelve months (rolling) or previous financial year and therefore we are in debate on what is the correct interpretation of these words.

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Answer

Please note that as part of adjustments to the Single Rulebook Q&A process, agreed by the EBA and the European Commission, it has been decided to reject outstanding questions submitted before 1 January 2020, when the Q&A process was updated as part of the last ESAs Review. In particular, the question that you have submitted has now regrettably been rejected and will not be addressed.

If you believe your question would still benefit from clarification, you are invited to resubmit your question, adapting it to reflect any legislative, regulatory or other relevant developments that may have occurred since the initial date of submission. The EBA will aim to address resubmitted questions as a matter of priority. When considering to resubmit, you are kindly requested to observe the updated admissibility criteria agreed in the context of the adjustment of the Q&A process, available in the Additional background and guidance for asking questions. We hope for your understanding.

For further information please refer to the press release and the updated Q&A page.

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Source: EBA original document