To be published in November 2012
The European Payments Council has launched the annual public consultation on potential modifications to the SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) scheme rulebooks (view press release). SEPA stakeholders are encouraged to provide feedback by 13th August 2012 and updated versions of the rulebook will be published in November 2012. Payment service providers and their suppliers then have one-year lead time to address rulebook updates prior to them taking place.
The SCT and SDD rulebooks contain sets of rules and standards for the execution of SEPA payment transactions that must be adhered to by PSPs. They are essentially instruction manuals providing a common understanding of how to move funds between bank accounts within SEPA. Both schemes evolve over time reflecting changes in market needs and updates of technical standards.
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