Commission Delegated Regulation (EU) 2018/32Show full title

Commission Delegated Regulation (EU) 2018/32

of 28 September 2017

supplementing Directive 2014/92/EU of the European Parliament and of the Council with regard to regulatory technical standards for the Union standardised terminology for most representative services linked to a payment account

(Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Directive 2014/92/EU of the European Parliament and of the Council of 23 July 2014 on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features(1), and in particular the third subparagraph of Article 3(4) thereof,

Whereas:

(1) Directive 2014/92/EU requires Member States to establish provisional lists of the most representative services linked to a payment account and subject to a fee and to integrate the Union standardised terminology into a final list.

(2) Union standardised terminology for the services that are common to at least a majority of Member States should be established. Some Member States have included in their provisional list of most representative services different variations of the same service. Also, some Member States distinguish between the set-up of a service and the execution of that service. In order to identify the broadest possible number of the most common services within the Union, while at the same time ensuring that the services' terminology is harmonised at an adequate level in order to enable the consumers to understand and compare payment account fees and offers on a cross-border basis, the core elements of services should be taken into account.

(3) The definitions should be formulated, where possible, in a way that denotes the role of the account provider as provider of the services linked to the payment account.

(4) Pursuant to Directive 2014/92/EU the terms and definitions should be laid down for each of the Member States separately.

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

(6) The 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(2),

HAS ADOPTED THIS REGULATION:

(1)

OJ L 257, 28.8.2014, p. 214.

(2)

Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).