The credit and payments sector has been extremely dynamic over the past decade, with a plethora of legislative initiatives being unveiled at EU level to reflect this. As a new five-year political mandate is about to begin, this contribution reviews the future of consumer finance, as well as discusses the ongoing developments for credit and […]
On 19 March 2024, the Regulation on Instant Payments was published in the Official Journal of the European Union. The generalisation of instant euro payments in the EU will lead to very relevant benefits in terms of liquidity management, market competition and convenience for users. Furthermore, it could possibly lead to an increase in public […]
This ECRI Explainer explores payments policy initiatives that will be the main focus of European legislation in the 2024-29 institutional cycle. They examine Level 1 – pending files, Level 2 – implementation of files, as well as Level 3 – recommendations for future policy developments.
In October 2022, the European Commission published a proposal on instant credit transfers in euro. In practice, the proposal will mean that money being transferred from one account to another should be received by the recipient within a matter of seconds at any time of day, any day of the year. The Commission argues that […]