The EACB welcomes the opportunity to participate in the public consultation on Draft Guidelines on the conditions to be met to benefit from an exemption from contingency measures under Article 33 (6) of Regulation (EU) 2018/389 (RTS on SCA & CSC).
We consider that the recent initiatives launched by the EBA contribute to achieve a harmonized implementation of PSD2 requirements, especially with regard to the RTS on SCA & CSC. A harmonized implementation of the RTS on SCA & CSC and consequently a harmonized application of the exemption criteria is key to avoid uneven playing field issues and regulatory arbitrage. We appreciate that the EBA has addressed the potential threats and problems arising from a lack of common understanding and consistent application of the four criteria under Article 33(6) RTS.
From our point of view, divergent approaches by National Competent Authorities will ultimately lead to additional operational burden due to different local assessments and the necessity to adapt the dedicated interface according to local requirements. Furthermore, a lack of transparency about the interpretation of the conditions to be met to benefit from an exemption will increase uncertainty and hamper implementation strategies.
Therefore, we generally agree with the proposed Guidelines as set out in the Consultation Paper and welcome that the EBA aims at ensuring a common, uniform and consistent implementation of the exemption criteria.