EBA harmonises SEPA data reporting for national authorities
The European Banking Authority (EBA) has published a decision harmonising the reporting of SEPA data by national competent authorities. This decision mandates that national authorities submit SEPA data exclusively to the EBA, which will then share it with the European Commission.
One channel for SEPA data
Under the new decision, national competent authorities (CAs) are now required to submit data from Payment Service Providers (PSPs) under Regulation (EU) No 260/2012 exclusively to the European Banking Authority (EBA).
Previously, CAs provided this information separately to both the EBA and the European Commission.
The EBA will now act as the central hub, making the collected data available to the Commission via its European Centralised Infrastructure of Data (EUCLID).
This streamlined approach aims to prevent double reporting, reduce the administrative burden on competent authorities, and ensure that both the EBA and the Commission receive a consistent and high-quality set of information.
The use of EUCLID is intended to guarantee proper data format, quality, and suitability for immediate analysis, leveraging a sequential approach proven effective in other supervisory reporting frameworks.
Annual reporting and EUCLID updates
Competent authorities are mandated to submit the harmonised SEPA data to the EBA on an annual basis.
The deadline for submission is October 9 of each year, with the data referencing the calendar year ending on December 31 of the preceding year.
For instance, the first harmonised report will cover the period from October 26, 2022, to December 31, 2022.
All submissions must comprise a single, integral, and fully complete file, irrespective of national data collection workflows.
Furthermore, the decision amends the existing EUCLID Decision (EBA/DC/2020/335) by incorporating specific references to Regulation (EU) No 260/2012 and Commission Implementing Regulation (EU) 2025/1979 into its Annex, thereby formally integrating these reporting requirements into the EBA's centralised data infrastructure.
Streamlining for better oversight
This EBA decision represents a pragmatic step towards enhancing regulatory efficiency and data quality within the European payments landscape.
By centralising SEPA data reporting, it directly addresses the issue of redundant submissions, thereby easing the burden on national authorities.
While not a groundbreaking policy shift, this operational harmonisation is crucial for fostering consistent supervisory insights and a more robust financial data ecosystem.