Reporting requirements for MFIs applying the IAS 39 or similar national accounting rules

Both standards should be controlled by NCBs by regular sample checks .

The current situation of diverging national standards and payment information requirements should be abandoned as quickly as possible .

It will also provide the necessary legal framework for SEPA , as it will harmonise existing , and differing , national legal requirements .

The above are minimum requirements .

It will also provide the legal framework necessary for SEPA , as it will harmonise the differing national legal requirements currently in force .

The competent national authorities may only recognise an ECAI if the latter complies with requirements such as objectivity , independence , ongoing review , credibility and transparency .

An important strand of work has related to streamlining the supervision of cross border groups and fostering convergence of national requirements .

confront issuers with several sets of national requirements going beyond the Community requirements under this proposal .

( ii ) reducing national options and discretions in EU rules and achieving closer convergence of financial reporting requirements

Prerequisites

Requirements 2 .

EN R e q u i r e me n t s

EN Requirements

Timeliness 33 .

On the basis of those business requirements , the EPC has identified logical requirements .

It applies the same principles of harmonisation and coherence for the transmission of national accounts data as the ESA95 Regulation and , furthermore , it incorporates new requirements expressed both from national producers and key users .

( b ) statistical reports must take their form and format from the technical reporting requirements set by national central banks

The new disciplinary framework set out by this Directive is not intended to replace the national provisions by directly applicable Community provisions , but contribute towards helping some convergence among the different national regimes through compliance with the requirements of the Directive .

The Directive will introduce clear and succinct information requirements for payment services replacing 25 sets of national rules .

Liabilities to euro area residents denominated in foreign currency

SPECIFIC STATISTICAL REQUIREMENTS

Specific statistical requirements

New statistical requirements

Data requirements

General technical requirements

Some market participants believe that , once all card schemes meet SEPA requirements and national markets are opened up , the result would already be quite different than the current nationally fragmented markets .

Yet cities like Hangzhou, Portland, and Vancouver take pride in their green ethos, and go far beyond national requirements in terms of environmental protection.

National central banks ( NCBs ) should be allowed to grant , on a non discriminatory basis , derogations from the reporting requirements to individual electronic money institutions in certain situations .

That framework should ensure the coordination of national provisions on prudential requirements , the access of new payment service providers to the market , information requirements , and the respective rights and obligations of payment services users .

Conformity to formal requirements

2 ) business requirements

SECTION 2 OTHER REQUIREMENTS

There is no man datory requirement .

There is no mandatory requirement .

Domestic Domestic

In view of the additional burden that the computation of national estimates would place on NCBs , efforts should be mainly concentrated on a limited number of key statistical data .

National legislation further complicates cross border business , as stakeholders may face different rules and requirements depending on the country with which they are doing business .

By derogation to paragraph 1 , Member States may maintain different packaging requirements provided for under their national rules when this Regulation comes into force . EN

Otherwise , companies wanting to be quoted in several Member States would certainly be discouraged through diverging national disclosure requirements .

Annex 4.1 Statistical reporting requirements PART 1 Description of requirements 1 .

Domestic Domestic Non MFIs

9A Deposits domestic

Liabilities to euro area residents denominated in foreign currency

co branding , i.e. Option 3 , is in principle SEPA compliant , provided that the SEPA requirements are met by all national card payment schemes and that national markets are open to competition .