EBA published final draft Implementing Technical Standards on reporting under Instant Payment Regulation

The European Banking Authority (EBA) has published the final draft Implementing Technical Standards (ITS) on reporting of data on charges for credit transfers and payments accounts and of the shares of rejected transactions. The ITS is based on the Instant Payment Regulation (IPR) amending the SEPA Regulation, and aim at standardising reporting from banks, payment institutions and e-money institutions (i.e. Payment Service Providers - PSPs) to their national competent authorities.

The ITS specify uniform reporting templates, instructions, and methodology for the reporting of charges for credit transfers, instant payments and payment accounts and shares of rejected transactions due to the application of the EU sanctions regime.

In developing the ITS, the EBA has sought to consider, on the one hand, the need to collect adequate data to analyse the impact of the amended SEPA Regulation, and on the other hand, the need to avoid an excessive reporting burden for the industry.

The reporting framework will support the European Commission in assessing the impacts of the Regulation and help ensure that consumers benefit from instant credit transfers and that they are not more expensive than regular credit transfers.

To ease the burden on the industry, and in response to comments received to the consultation, the draft final ITS postpone the deadline set in the amended SEPA Regulation for the first harmonised reporting by 12 months, to April 2026. The first subsequent reporting by National Competent Authorities to the EBA and the European Commission is postponed to October 2026.

The EBA is preparing the technical specifications for the reporting, including the XBRL taxonomy, datapoint model and validation rules. At present, it is anticipated that these specifications will be included in the EBA's technical reporting framework 4.1. Further information on the XBRL taxonomy and the DPM model applying to ITS reporting is available on the EBA website.