Payments services and e-money | New delegated regulation

On 28 September 2021, the Commission Delegated Regulation (EU) 2021/1722 of 18 June 2021 (the “Regulation”), supplementing Directive (EU) 2015/2366 of the European Parliament and of the Council (the “Payment Services Directive”, “PSD2”) with regard to regulatory technical standards specifying the framework for cooperation and the exchange of information between competent authorities of the home and the host Member States in the context of supervision of payment institutions and electronic money institutions exercising cross-border provision of payment services, has been published in the Official Journal of the European Union.


This Regulation is based on the draft regulatory technical standards (the “RTS”) developed by the European Banking Authority (the “EBA”), in execution of the mandate given to it under the PSD2. 

The RTS set out in the Regulation specify the framework for cooperation and for the exchange of information between the competent authorities of the home and host Member States in accordance with Title II of PSD2 and, as far as the payment service is provided under the right of establishment, for the monitoring of compliance with the provisions of national law transposing Titles III and IV of PSD2. 

Key provisions

All competent authorities shall designate a single point of contact and notify the same to the competent authorities in other Member States as well as to the EBA in order to facilitate communication with the competent authorities among Member States, specifying the language in which they can receive correspondence. The single point of contact is to be a dedicated functional mailbox. 

Standardised forms should be introduced in order to facilitate communication and exchange of information. These forms should nevertheless remain flexible, allowing for the inclusion of explanations and any other information deemed to be essential by the competent authorities. 

Where the competent authorities of a host Member State require payment institutions which have a branch or agent within their territory to submit periodical reports on their activities, they should indicate to such institutions the language and electronic means to submit their reports and ensure the comparability and predictability of the data reported to them.

A particular procedure should be established when the competent authority of a home Member State carries out on-sight inspections of branches or agents of payment institutions located in another Member State. Additionally, the competent authority of the host Member State shall be able to request the competent authority of the home Member State to conduct an on-site inspection at the head office of a payment institution situated within that home Member State. 

Entry into force

The Regulation enters into force, and apply, on 18 October 2021.