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QA2020-166 - CFR

QA2020-166 - CFR

Owned by SRB Services
Feb 01, 2024
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Resolution Reporting Subject Matter Guidance
Guidance Documents Critical-Functions
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QA2020-166

Question


Why do you make the difference between the payer’s and the payee’s? Isn’t it always the bank who sends the money which has to report the values since it is the value of transactions sent?


Response


In accordance with the SRB’s Guidance on the Critical Functions Report, Annex 3: F&Qs , question 9: “How should sent payment transactions be counted?”. The answer provided states the following: “Credit transfers are counted on the payer’s side; direct debits are counted on the payee’s side; cheques are counted on the payee’s side; card transactions are counted on the payer’s, i.e. the issuing side; e-money payment transactions are counted on either the payer’s or the payee’s side, depending on the initiation channel. Concerning payment systems, the definition refers to a transaction sent by the reporting entity for processing by the payment system.” Annex 3 in the above-mentioned document therefore states who must report services falling under category F.22 i.e. the payee’s or the payer’s payment services provider. The aim of this clarification is to avoid potential reporting mistakes that may arise, especially given that it may not always be possible to identify a service provider “sending the money”, but rather collecting it e.g. direct debit.