Introduction to the Q&A tool

Via the Q&A tool of the EBA (European Banking Authority), firstly, questions from anybody, including national supervisory authorities, institutions that are subject to the provisions of Directive 2013/36/EU (CRD), Regulation (EU) No 575/2013 (CRR), Directive 2014/59/EU (BRRD), Directive 2014/49/EU Deposit Guarantee Schemes Directive (DGSD) and Directive (EU) 2015/2366 (PSD2) as well as related industry associations, individuals and other entities are collected.

Secondly, the EBA answers the relevant questions and publishes them via the Q&A tool. Any question relating to the practical application or implementation of provisions of CRR, CRD, BRRD, DGSD and associated Commission delegated or implementing acts, EBA technical standards as adopted by the Commission and EBA guidelines adopted under that legislation can be asked.

The overall objective of the Q&A tool is to ensure consistent and effective application of the new regulatory framework across the Single Market, and hence contribute to the building of the Single Rulebook in banking. It is important to note, that Q&As have no binding force in law, nor are they subject to „comply or explain“. However their application will be rigorously scrutinised and challenged by the EBA and national supervisory authorities given their undoubted practical significance to achieve a level-playing field. Peer pressure and market discipline are also expected to play a driving force in ensuring adherence to and compliance with the answers provided in the Q&A process.

Therefore, it is important to keep track of all the upcoming Q&As and filter out the important ones. In our blog, we will focus on publishing those Q&As connected to PSD2. Each original answer of the EBA is available by clicking on the respective embedded link.

Published Q&As by the EBA

2018_4360, EBA answer dated 08/03/2019
Question: Has the exemption related to a trusted beneficiary to be applied on an account basis or rather to a list of accounts included in an online banking agreement ? Whose list has to be considered in case of a power of attorney where the initiator is not the account owner ? What happens in case of a shared account where each one holds his own trusted beneficiary lists?

2018_4031, EBA answer dated 01/03/2019
Question: Are card payments that are initiated by the payee only on the basis of (1) an initial mandate by the payer authorizing the payee to initiate the periodic payments and (2) a pre-existing agreement between the payer and the payee for the provision of products or services, subject to the RTS SCA requirements?

2018_4404, EBA answer dated 01/03/2019
Question: Are the subsequent instance of card payment recurring transactions (other than the first, initial one) and of instalment transactions (again, subsequent to the initial one) transactions initiated by the payee only?

2018_4131, EBA answer dated 01/03/2019
Question: Please clarify whether standing agreements between a customer and a merchant resulting in subsequent billing (irregular or otherwise) to be payee-initiated transactions, and as such excluded from the SCA requirement.

2018_4058, EBA answer dated 01/03/2019
Question: Do transactions initiated via Interactive Voice Response (IVR) solutions qualify as telephone orders and are therefore excluded from the scope of the RTS SCA requirements?

2018_4359, EBA answer dated 22/02/2019
Question: When processing SEPA Direct Debits electronically (assuming that the Direct Debit mandate has been signed digitally), does SCA apply to transactions? If not, what is the legal basis for this exemption?