Recent regulatory developments focussed on the payments sector. See also our Financial institutions general regulatory news of broad relevance in the Related Materials links.
European Central Bank (ECB) Regulation (EU) 2021/728, which amends the Regulation on oversight requirements for systemically important payment systems (SIPS) (the SIPS Regulation), has been published in the Official Journal of the European Union, together with two related ECB Decisions, (EU) 2021/729 and (EU) 2021/730.
The Amending Regulation will revise the SIPS Regulation to:
ECB Decision (EU) 2021/729 and ECB Decision (EU) 2021/730 make consequential amendments to, respectively, ECB Decision (EU) 2017/2098 on procedural aspects concerning the imposition of corrective measures for non-compliance with the SIPS Regulation, and ECB Decision (EU) 2019/1349 on the procedure and conditions for exercise by a competent authority of certain powers in relation to oversight of SIPS.
The ECB has updated its webpage on its preceding consultation to provide clarifications on certain issues that arose in feedback to the consultation.
Authored by Yvonne Clapham
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