Circular NBB_2019_12 / Obligations related to the DSP2 information file

NBB_2019_12 – June 12, 2019 Circular – Page 1/2 14 Berlaimont Avenue - BE-1000 Brussels phone: +32 2 221 xx xx - fax: +32 2 221 xx company number: 0203.201.201.340 RPR Brussels www.nbb.be

Circular
Brussels, June 12, 2019
Characteristic: BNB_2019_12 your contact:
Frédéric Romont phone: +32 2 221 40 09 - fax: +32 2 221 31 29 frederic.romont@nbb.be

Obligations related to the DSP2 information file

Scope
Belgian credit institutions and branches of credit institutions subject to the law of a third country

Summary/Objective
This circular clarifies how credit institutions must submit an information file to the NBB regarding compliance with the provisions of the law of March 11, 2018, on the status and supervision of payment institutions and electronic money institutions, on access to the activity of payment service providers, and on the activity of electronic money issuance and access to payment systems applicable to them.

Madam, Sir,

This circular is specifically addressed to credit institutions in their capacity as payment service providers within the meaning of Article 5, § 1, point 1°, of the law of March 11, 2018.

The law of March 11, 2018, transposing Directive (EU) 2015/2366 on payment services in the internal market (DSP2), subjects credit institutions to supplementary provisions.

In accordance with Article 145 of the law of March 11, 2018, credit institutions providing payment services are subject to supplementary provisions concerning, in particular, the following points (non-exhaustive list):
(i) the protection of payment data and the authentication procedure, (ii) secure communication, (iii) the security policy, (iv) the management and reporting of security incidents; and (v) the provision of statistical data.

Circular - Page 2/2 NBB_2019-_12 - June 12, 2019

In particular, credit institutions acting as account servicing payment service providers are required to:
(i) allow account information service providers and payment initiation service providers to rely, for their intervention, on the authentication procedures provided for by the law of March 11, 2018, (ii) comply with secure communication standards to ensure that payers can rely on account information service providers and payment initiation service providers for account information services and payment initiation services regarding online-accessible payment accounts, and (iii) have, in the relevant situation and provided that the conditions are met, appropriate procedures to immediately confirm whether the funds necessary for the execution of a card payment transaction are available on the payer's payment account linked to the card.

The provisions of the law of March 11, 2018, and by extension DSP2, are the subject of a new cycle of deepening and refinement in regulatory technical standards and guidelines, the applicability of which to institutions has also been communicated via circulars.

In order to enable the NBB to assess the compliance of credit institutions with the obligations arising from DSP2, credit institutions subject to the law of March 11, 2018, are invited to submit an information file to the NBB.

In order to process the information from credit institutions in a uniform and structured manner, a schema to be followed by credit institutions for the transmission of this information file is attached to this circular.

Credit institutions are invited to transmit the information file no later than September 30, 2019.

It should also be recalled that Article 76 of the Banking Law provides that any modification of the institution's activities must be notified to the supervisory authority prior to its implementation. The information file allows for the integration of the communication provided for in Article 76 of the Banking Law and should be used in particular for credit institutions that plan to offer or already offer payment initiation and/or account aggregation services since the entry into force of DSP2.

A copy of this circular is sent to the auditor(s) and statutory auditor(s) of your institution.

Please accept, Madam, Sir, the expression of my distinguished sentiments.

Pierre Wunsch
Governor