RegAlert2022-02-01
Added · Updated
Overview of Notification and Reporting Requirements under the Payment Services Supervision Act (ZAG)
This document outlines the specific notification and reporting obligations for payment institutions and e-money institutions in Germany, categorized into five groups based on their business scope and regulatory status. It details the required submissions, including monthly, quarterly, half-yearly, and annual reports, as well as ad-hoc notifications for events such as insolvency, significant shareholding changes, outsourcing, and serious operational incidents. The requirements are derived from the Payment Services Supervision Act (ZAG), the ZAG Monthly Statement Ordinance, the ZAG Notification Ordinance, and the ZAG Institutions' Own Funds Ordinance, with specific forms and deadlines designated for submission to the Federal Financial Supervisory Authority (BaFin) or the German Federal Bank.
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DEUTSCHE BUNDESBANK
Overview of Notification and Reporting Requirements under the Payment Services Supervision Act (ZAG) Status: February 2022
Notes:
Classification of Payment Institutions (PI) and E-Money Institutions (EMI):
Group A: pure payment institutions / e-money institutions Group B: payment institutions/e-money institutions that are simultaneously credit institutions within the meaning of the German Banking Act (KWG) Group C: payment institutions/e-money institutions that are simultaneously financial service institutions within the meaning of the German Banking Act (KWG) Group D: payment institutions that only provide payment initiation services or payment institutions that only provide payment initiation services and account information services Group E: payment institutions that only provide account information services (R-AIS)
I. ZAG Monthly Statement Ordinance (ZAGMonAwV)
| ZAGMonAwV | ZAG | Content | Form | Submission to BaFin / HV 1 | Number of Reports | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Formless | Form | Unver. | Monthly | Quarterly | Half-yearly | Annually | A | B | C | D | E | |||
| § 2 and § 5 para. 1 and 2 | § 29 para. 1 sentence 1 | Financial status, profit and loss statement | STZAG, GVZAG | 0/12 | x | xx | ||||||||
| § 2 and § 5 para. 1 and 2 | § 29 para. 1 sentence 1 | Financial status, profit and loss statement (additional data) | ESTZAG, EGVZAG | 0/12 | x | |||||||||
| § 3 para. 1 no. 1 and § 5 para. 1 and 2 | Average e-money circulation, number of e-money instruments issued | WAZAG | 0/12 | x | x | x | ||||||||
| § 3 para. 1 no. 2a), § 3 para. 2 § 5 para. 2 | Payment volume, number of payment transactions, number of payment instruments issued; chargebacks | WAZAG | 0/12 | x | 3 | |||||||||
| § 3 para. 1 no. 2b) and § 5 para. 1 and 2 | Refund requests, number of initiated payment transactions and total value of initiated payment transactions | WAZAG | 0/12 | x | x | x | x | |||||||
| § 3 para. 1 no. 2c) and § 5 para. 1 and 2 | Refund requests, number of payment accounts accessed, total number of customers using AIS | WAZAG | 0/12 | x | x | x | x | 4 |
1 Submission is generally quarterly by the 20th business day of the calendar month following the reporting date; in exceptional cases, monthly (§ 4 sentence 2 ZAGMonAwV) 2 In the case of providing financial transfer business, further details must be subdivided into the various payment directions based on the payment recipient 3 applies only to institutions that operate both payment initiation services and account information services
Notification obligations that are not directly contained in the Payment Services Supervision Act (ZAG) or the ordinances based on it are not included. The notification obligations for institutions (credit institutions and financial service institutions) under the German Banking Act (KWG) remain unaffected (see separate overviews here). Therefore, for payment institutions and e-money institutions of groups B and C, the notification and reporting requirements of the German Banking Act (KWG) together with the associated ordinances generally apply, e.g., Financial and Risk Solvency Information Ordinance, Notification Ordinance, Solvency Ordinance, Shareholder Control Ordinance, Ordinance on the Accounting of Credit Institutions and Financial Service Institutions, etc.
Regarding the submission procedure, § 1 ZAGAnzV is generally decisive. The remark "Formless" does not exempt from written form, but merely indicates the absence of a separate form. For electronic submission, reference is made to the information sheet for participation notifications "Electronic Submission of Participation Notifications" and to the ExtraNet section on the internet (http://www.bundesbank.de/service/extranet).
Current forms can be found at the link https://www.bundesbank.de/en/service/reporting/banking-supervision-form-center.
1 BaFin: Federal Financial Supervisory Authority, HV: Main Administration of the Deutsche Bundesbank Application to PIs/EMIs of groups
II. ZAG Notification Ordinance (ZAGAnzV)
| ZAGAnzV | ZAG | Content | Form | Submission to BaFin / HV 1 | Number of Reports | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Formless | Form | Unver. | Monthly | Quarterly | Half-yearly | Annually | A | B | C | D | E | |||
| § 2 | § 10 para. 2 and § 11 para. 2 | Authorization application (see Guidelines on authorization and registration under PSD2 - EBA/GL/2017/09) | x | 2/0 | x | |||||||||
| § 3 | § 10 para. 5 and § 11 para. 4 | Change in legal or factual circumstances | x | 1/1 | x | x | x | x | ||||||
| § 16 in conjunction with § 2 | § 34 para. 1 | Registration application (see Guidelines on authorization and registration under PSD2 - EBA/GL/2017/09) | x | 2/0 | x | |||||||||
| § 16 in conjunction with § 3 | § 34 para. 5 | Change in legal or factual circumstances | x | 1/1 | x | |||||||||
| §§ 4, 5 in conjunction with § 2c KWG and §§ 6 and 7 InhKontrollV | § 14 para. 1 sentence 2 | Holders of significant participations 2: Intention to acquire/increase or change the notified intention/details or intention to relinquish/reduce | x | 3 | ||||||||||
| Annexes 1 and 3 to ZAGAnzV, possibly with Annex 2 to ZAGAnzV | 1/1 | x | x | |||||||||||
| § 4 para. 4 sentence 1 in conjunction with § 2c para. 1 KWG and § 18 InhKontrollV | § 14 para. 1 sentence 2 | Holders of significant participations 2: newly appointed statutory or articles of association representative or new personally liable partner | x | 1/1 | x | x | ||||||||
| § 4 para. 4 sentence 2 | § 14 para. 1 sentence 2 | Holders of significant participations 2: Departure of a statutory, articles of association representative or personally liable partner | x | 1/1 | x | x | ||||||||
| § 22 para. 1 in conjunction with §§ 242 and 245 HGB | Draft annual financial statement | Annual financial statement: Forms according to RechZahlV 4 | 1/1 | x | ||||||||||
| § 6 | § 22 para. 1 | Determined annual financial statement 5 and management report | Annual financial statement: Forms according to RechZahlV | 1/1 | x | |||||||||
| § 22 para. 2 | Consolidated financial statement and consolidated management report | Annual financial statement: Forms according to RechZahlV 6 | 1/1 | x | ||||||||||
| § 7 in conjunction with AgNwV | § 25 para. 1 sentence 1 and 4 § 32 para. 1 and 3 | Intention to use an agent/change in notified circumstances | Data capture sheet 7 | 1/1 | x | x | x | x | ||||||
| § 8 | § 26 para. 2 and 4, § 28 para. 1 no. 10 | Outsourcing | Intention and implementation 8 / change in notified outsourcing (see Guidelines on outsourcing EBA/GL/2019/02 and EBA/REC/2017/03) | x | 1/1 | x | x | x | x | x | ||||
| § 9 | § 38 para. 1, 2, 6 and 9, § 25 para. 4 § 32 para. 3 | EEA branch or EEA cross-border service provision or EEA agents - Intention to establish/provide/use and change in circumstances | Form Notification 9 | 1/1 | x | |||||||||
| §§ 10 and 10a | § 28 para. 1 no. 1, 2 | Management board members and persons with individual representation authority: Intention and implementation of personnel changes (appointment and departure) | x with Annex 4 to ZAGAnzV also intention | 1/1 | x | |||||||||
| § 10 para. 2 sentence 2 and 3, § 15 para. 1 | § 28 para. 3 no. 1 | Management board members: Side employment | Annex 5 to ZAGAnzV | 1/1 | x | x | x | x | x | x | ||||
| § 10 para. 2 sentence 4 and 5, § 15 para. 2 | § 28 para. 3 no. 2 | Management board members: Participation (from 25%) | Annex 6 to ZAGAnzV | 1/1 | x | x | x | x | x | x | ||||
| § 11 | § 28 para. 1 no. 4 and 8 | Passive participations: Significant participations and passive close links | Annex 7 to ZAGAnzV, possibly with Annex 2 to ZAGAnzV | 1/1 | SA 10 | |||||||||
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Source: Deutsche Bundesbank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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