Home Means of payment SEPA EPC : Response to the EC Communication on a New Legal Framework for Payments in the internal market  
 
 
 

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29 march 2004

EPC : Response to the EC Communication on a New Legal Framework for Payments in the internal market


The objective of the Commission's initiative of establishing a coherent and comprehensive legal framework for SEPA is shared by the European banking industry.

 

To achieve by 2010 the single payment area in the Internal Market the European banking industry is aware that it must step up its efforts in market self-regulation but the latter may not supersede national legislation. There is a need for long-term migration of Community Law into a simplified set of rules in order to make intra-EU payments domestic. This, of course can be a long and complex process.

 
 
 
 
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