Thursday, 1 February 2018

Ceisteanna (82)

Michael McGrath

Ceist:

82. Deputy Michael McGrath asked the Minister for Finance the progress State-supported banks have made on Payment Services Directive II, PSD2; the potential implications for not implementing the directive; the potential implications for non-compliance in time; and if he will make a statement on the matter. [5267/18]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

In relation to the Payment Services Directive II (PSD2), I have received the following comments.

AIB

"AIB has implemented all aspects of PSD II which came into effect on 13 January 2018 and is on track to implement the remaining articles once the final Regulatory Technical Standards (RTS) has been published and its implementation date agreed."

PTSB

"Permanent TSB implemented PSD2 on the 13th January 2018 and updated and communicated to customers the changes in Terms and Conditions accordingly."

Statutory Instrument No. 6 of 2018 – European Union (Payment Services) Regulations 2018 – deals with PSD2. Section 134 sets out the penalties for offences under Statutory Instrument No. 6 which are listed under sections 126-131. Statutory Instrument No. 6 can be found at the following link:

http://www.finance.gov.ie/wp-content/uploads/2018/01/18012-S.I.-No.-6-of-2018-European-Union-Payment-Services-Regulations-2018.pdf