1. By 1 February 2017, the Commission shall present to the European Parliament, the Council, the European Economic and Social Committee, ECB and EBA a report on the application of this Regulation accompanied, if appropriate, by a proposal.

2. By 9 October 2028 the Commission shall present a report to the European Parliament and to the Council accompanied, if appropriate, by a legislative proposal. The report shall contain an evaluation of:

(a) the development of charges for payment accounts as well as for national and cross-border credit transfers and instant credit transfers in euro and in the national currency of the Member States whose currency is not the euro since 26 October 2022, including the impact of Article 5b(1) on those charges; and

(b) the scope of Article 5d and its effectiveness in preventing unnecessary hindering of instant credit transfers.

3. PSPs shall report to their competent authorities on:

(a) the level of charges for credit transfers, instant credit transfers and payment accounts;

(b) the share of rejections, separately for national and cross-border payment transactions, due to the application of targeted financial restrictive measures.