EBA · 2019_4691 Rejected question

Interpretation of the words ‘preceding year’ in Method B under Article 9(1) of the PSD2

Regulation
Directive 2015/2366/EU (PSD2)
Article
9, para. 1
Topic
Other topics
Submitted by
Competent authority
Submitted
2019-04-30
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Question

How should the words ‘preceding year’ be interpreted in Method B under Article 9(1) of the PSD2?

Background

According to Article 9(1) of the PSD2, Method B shall be calculated based on the payment volume, “where payment volume (PV) represents one twelfth of the total amount of payment transactions executed by the payment institution in the preceding year”. The words ’preceding year’ In Method B may either be interpreted as meaning previous calendar year, previous twelve months (rolling) or previous financial year and therefore we are in debate on what is the correct interpretation of these words.
No answer published yet.

Original source: European Banking Authority, Q&A ID 2019_4691

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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