Regulatory Alerts2026-03-12
Royal Decree 736/2019 on the legal regime of payment services and payment institutions
The Spanish Ministry of Economy and the Bank of Spain issued Royal Decree 736/2019 to fully transpose the EU Payment Services Directive 2 (PSD2) into national law, transferring authorization powers for payment institutions to the Bank of Spain. The decree establishes detailed regulatory frameworks for authorization, cross-border activities, agent usage, outsourcing, and capital requirements, while introducing new rules for payment initiation and account information services. It also amends existing regulations on electronic money institutions and credit entities to ensure harmonized supervision and conduct obligations across the financial sector.
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