Information sharing supports non-bank access to payment systems
National supervisors and central banks will exchange information on non-bank payment providers seeking access to central bank-operated systems. The European Central Bank (ECB) published the framework on October 16, 2026, following a July 2026 update.
Access checks cross borders
The memorandum covers payment institutions and electronic money institutions established in the European Economic Area, excluding specified exempt providers.
For cross-border applications, the central bank operating the system notifies the home supervisor of the application, its participation decision and effective dates.
Supervisors supply compliance assessments where national procedures require them.
Article 35a(1) of the revised Payment Services Directive covers safeguarding customer funds, governance, internal controls and winding-up plans.
Supervisors report material compliance issues without undue delay and authorisation suspensions or withdrawals immediately, before or no later than updating their public register.
Standard forms carry confidential information
Authorities exchange confidential information in English using a standard form and email; urgent oral notifications require written confirmation the same working day.
The European Banking Authority (EBA) maintains supervisory contacts and the ECB maintains central bank contacts.
The framework builds on Regulation (EU) 2024/886 and ECB Decision (EU) 2025/222 of January 27, 2025.
It creates no enforceable rights or binding obligations and preserves national assessment procedures and authorities' independent decisions.
Cooperation without binding obligations
The memorandum takes effect for each authority the day after signature and provides for review after one year, or earlier by agreement.
Withdrawal requires at least 30 days' written notice.
Additional authorities can join after a 60-calendar-day objection period; confidentiality continues after termination.