EBA欧洲银行-EBA-GL-2017-08-CT-GLs-on-criteria-on-how-to-stipulate-the-minimum-monetary-amount-of-PII_6页_238kb

EBA Guidelines Compliance Summary on Professional Indemnity Insurance (PII) Minimum Amounts

Overview

The European Banking Authority (EBA) issued Guidelines on the criteria on how to stipulate the minimum monetary amount of the professional indemnity insurance or other comparable guarantee under Article 3(4) of Directive (EU) 2015/2366 (PSD2) on 7 July 2017, with an application date of 20 February 2018. This document outlines the status of compliance by competent authorities across the European Economic Area (EEA) and European Territories, indicating whether they comply or intend to comply with the EBA's guidelines.

Core Content

• Purpose: The guidelines define the criteria for setting the minimum monetary amount of professional indemnity insurance (PII) or other comparable guarantees for payment service providers (PSPs).
• Scope: Applies to institutions and services regulated under PSD2, which governs payment services in the EU.
• Compliance Deadline: The guidelines were intended to be applied starting from 20 February 2018, with some authorities aiming to comply by 13 January 2018.
• Non-Compliance Note: Authorities that do not comply or intend to comply must inform the EBA of their reasons. Some jurisdictions have not responded within the two-month time limit.

Compliance Status by Competent Authorities

EU Member States

EEA EFTA States

European Territories under Article 355(3) TFEU

Key Information

• Guidelines Date: 7 July 2017
• Application Date: 20 February 2018
• Compliance Deadline: Most authorities aimed to comply by 13 January 2018, with some extending to Q3 2018 or later.
• Non-Compliance: Romania's National Bank of Romania did not respond within the two-month period.
• Voluntary Reporting: EEA States outside the EU are not required to notify compliance, and this table is based on voluntary information.
• Note on Non-Compliance: If an authority continues to intend to comply after the application date, it will be marked as "non-compliant" unless specific exceptions apply.

Main Points

• The EBA's guidelines provide a framework for determining the minimum PII amount for payment service providers.
• Most competent authorities either comply or intend to comply with the guidelines, aligning with the transposition of PSD2 into national law.
• Some jurisdictions, such as Romania and Gibraltar, have not provided a response, indicating uncertainty or non-compliance.
• The EBA emphasizes transparency and encourages competent authorities to inform them of their compliance status or reasons for non-compliance.