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
…