SEPA: Consultation on Evolutions for End 2012
- The EPC starts the annual evolution of SDD and SCT, and has launched a public consultation to learn the opinion of payment players on the improvement proposals received since last (2010) changes.
- For SDD, the main evolution is proposed by Germany and consists in setting a one-day deadline for debit presentation to the debtor’s bank (first debit and recurring debits). This request corresponds to the needs of the insurance and financial sectors. The EPC suggests that this shorter timeline be standardised on a SEPA scale and be optional to smooth the migration of these sectors.
- Several other, more targeted, proposals (such as the EACT suggestions) for SDDs and SCTs are also available.
- The EPC provides annual suggestions to improve the SCT and SDD Rulebooks (Core and B2B), submitted by all the relevant parties. The EPC is now seeking the opinion of all stakeholders to later make its decide. Stakeholders have to provide feedback by 20 August. The EPC will make its decision during a plenary session after the summer break. The changes to be published in November will come into effect one year later (evolutions taking effect in the end of this year were decided similarly in 2010).
- The EPC often has to disagree with the suggestions it receives before submitting them to consultation, when they only respond to the needs of a limited number of players on the SEPA scale, or because they do not comply with its overall regulation framework. Nevertheless, all received and articulated suggestions are published.
See September and November 2010 Watches