Published date: 16 February 2017

Opinion of the European Banking Authority on the European Commission's intention to partially endorse and amend the final draft regulatory technical standards submitted by the EBA establishing requirements to be complied with by payment card schemes and processing entities to ensure the application of independence requirements in terms of accounting, organisation and the decision-making process (EBA/Op/2017/01)

Introduction and legal basis

On 26 July 2016, the European Banking Authority (EBA) submitted to the European Commission for endorsement the final draft regulatory technical standards (RTS) under Article 7 of Regulation (EU) 2015/751 [Regulation (EU) 2015/751 of the European Parliament and of the Council of 29 April 2015 on interchange fees for cardbased payment transactions (OJ L 123, 19.5.2015, pp. 1-15).] on interchange fees for card-based payment transactions (IFR).

The RTS establish requirements to be complied with by payment card schemes and processing entities to ensure the application of independence requirements under Article 7 of the IFR in terms of accounting, organisation and the decision-making process.

By letter dated 5 January 2017, the Commission, acting in accordance with the procedure set out in the fifth and sixth subparagraphs of Article 10(1) of Regulation (EU) No 1093/2010 [Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 20