PSD2: EBA consults on guidelines on minimum monetary amount of indemnity insurance

The EBA has launched a consultation on guidelines on the criteria to be considered when stipulating the minimum monetary amount of the professional indemnity insurance (PII) or comparable guarantee for payment initiation and account information service providers under the Payment Service Directive (PSD2).

The draft guidelines set out criteria, indicators, calculation methods and a formula competent authorities should use when granting authorisation to undertakings applying for the provision of payment initiation and/or approving the registration of undertakings applying for the provision of account information.

Comments are due by 30 November 2016.