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The Euro Banking Association (EBA), also referred to adding its French acronym ABE-EBA (French : Association bancaire pour l'euro), is a trade association for the European payments industry with close to 200 member banks and organisations from the European Union and around the world aimed at fostering and driving pan-European payment initiatives. The ABE-EBA has strived to contribute to the creation of a standardised Single Euro Payments Area (SEPA). [1] It is established at 40, rue de Courcelles in Paris. [2]
The ABE-EBA was founded in Paris in 1985 by 18 commercial banks and the European Investment Bank. The European Commission as well as the Bank for International Settlements (BIS) supported the founding of the ABE-EBA. Since then, the number of members has risen to almost 200. The institutions come from all member states of the European Union as well as from Norway, Switzerland, Australia, China, Japan, the United Arab Emirates and the United States.
In its early years, the agenda of the ABE-EBA included the promotion of the European Monetary Union (EMU) and the development and management of a private industry ECU clearing system stretching across Europe. In more recent times it has contributed to policy debates about financial market infrastructures, e.g. a report on 2018 about the prospects for usage of distributed ledger technology. [3]
Through its affiliate EBA Clearing, the ABE-EBA has developed significant market infrastructures of its own. These include EURO1, a real-time gross settlement-equivalent large-value payment system for single euro transactions; STEP1, a payment service for single euro payments of high priority and urgency for small and medium-sized banks; and STEP2, a Pan-European Automated Clearing House which processes euro retail payments. EURO1 and STEP2 are designated as Systemically Important Payment Systems.[ citation needed ]
In 1986, the ABE-EBA appointed Gilbert Lichter as its secretary-general, [4] a position he held until 1989 and again from 1992 to 2016. [5] Since 2016, the secretary-general of the ABE-EBA has been Mr Thomas Egner. [6]
| Members of the Euro Banking Association | |
|---|---|
| Austria | |
| Belgium | |
| Cyprus | |
| Denmark | |
| Finland | |
| France | |
| Germany | |
| Greece | |
| Hungary | |
| Ireland | |
| Italy | |
| Luxembourg | |
| Netherlands | |
| Portugal | |
| Slovenia | |
| Spain | |
| Sweden | |
| United Kingdom |
|
A giro transfer, often shortened to giro, is a payment transfer from one current bank account to another bank account and initiated by the payer, not the payee. The debit card has a similar model. Giros are primarily used in Europe; although electronic payment systems exist in the United States, it is not possible to perform third-party transfers with them. In the European Union, the Single Euro Payments Area (SEPA) allows electronic giro or debit card payments in euros to be executed to any euro bank account in the area.
In banking and finance, clearing denotes all activities from the time a commitment is made for a transaction until it is settled. This process turns the promise of payment into the actual movement of money from one account to another. Clearing houses were formed to facilitate such transactions among banks.
A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, payment instruments such as payment cards, people, rules, procedures, standards, and technologies that make its exchange possible. A payment system is an operational network which links bank accounts and provides for monetary exchange using bank deposits. Some payment systems also include credit mechanisms, which are essentially a different aspect of payment.
Eba or EBA may refer to:
The Single Euro Payments Area (SEPA) is a payment integration initiative of the European Union for simplification of bank transfers denominated in euros. As of 2020, there were 36 members in SEPA, consisting of the 27 member states of the European Union, the four member states of the European Free Trade Association, and the United Kingdom. Some microstates participate in the technical schemes: Andorra, Monaco, San Marino, and Vatican City.
A pan-European automated clearing house (PE-ACH) is a clearing house that is able to settle SEPA compliant credit transfers and direct debits across the Eurozone.
The Revised Payment Services Directive (PSD2, Directive (EU) 2015/2366, which replaced the Payment Services Directive (PSD), Directive 2007/64/EC) is an EU Directive, administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA). The PSD's purpose was to increase pan-European competition and participation in the payments industry also from non-banks, and to provide for a level playing field by harmonizing consumer protection and the rights and obligations of payment providers and users. The key objectives of the PSD2 directive are creating a more integrated European payments market, making payments more secure and protecting consumers.
The Euro Alliance of Payment Schemes (EAPS) was an international alliance of European bank and interbank networks that had aimed to creating a pan-European debit card system in the Single Euro Payments Area to rival Visa and Mastercard using existing country specific systems. It was launched in 2007 with the support of the European Union but failed and was abandoned sometime after 2013.
The banking industry in France has, as of 11 October 2008, an average leverage ratio of 28 to 1, and its short-term liabilities are equal to 60% of the French GDP or 128% of its national debt.
A Systemically Important Payment System (SIPS) is a payment systems whose failure could potentially endanger the operation of the whole economy. In general, these are the major payment clearing systems or real-time gross settlement systems of individual countries, but in the case of Europe, there are certain pan-European payment systems. TARGET2 is a pan-European SIPS dealing with major inter-bank payments. STEP2, operated by the Euro Banking Association, is a major pan-European clearing system for retail payments which has the potential to become a SIPS.
TIPANET is an international payment system set up by the European cooperative banks. Its shareholders were Natexis Banques Populaires, France; Banca Popolare Commercio e Industria, Italy; Istituto Centrale delle Banche Popolari Italiane, Italy; Banco Popular de España, Spain; Crédit Professionnel, Belgium; The Cooperative Bank plc, United Kingdom; Österreichische Volksbanken AG, Austria; Genossenschaftliche FinanzGruppe, Germany, and Caisse Centrale Desjardins Quebec, Canada.
Groupe BPCE is a major French banking group formed by the 2009 merger of two major retail banking groups, Groupe Caisse d'Épargne and Groupe Banque Populaire. As of 2021, it was France's fourth largest bank, the seventh largest in Europe, and the nineteenth in the world by total assets. It has more than 8,200 branches nationwide under their respective brand names serving nearly 150 million customers. Its wholesale banking subsidiary Natixis, previously a separately listed company, was delisted and came under full ownership of Groupe BPCE in 2021.
The Irish Payment Services Organisation Limited (IPSO) was established in June 1997. IPSO was a company limited by guarantee owned by its member banks.
The European Banking Authority (EBA) is a regulatory agency of the European Union headquartered in La Défense, Île-de-France. Its activities include conducting stress tests on European banks to increase transparency in the European financial system and identifying weaknesses in banks' capital structures.
Vocalink is a payment systems company headquartered in the United Kingdom, created in 2007 from the merger between Voca and LINK. It designs, builds and operates the UK payments infrastructure, which underpins the provision of the Bacs payment system and the UK ATM LINK switching platform covering 65,000 ATMs and the UK Faster Payments systems.
European Banking Supervision, also known as the Single Supervisory Mechanism (SSM), is the policy framework for the prudential supervision of banks in the euro area. It is centered on the European Central Bank (ECB), whose supervisory arm is referred to as ECB Banking Supervision. EU member states outside of the euro area can also participate on a voluntary basis, as was the case of Bulgaria as of late 2023. European Banking Supervision was established by Regulation 1024/2013 of the Council, also known as the SSM Regulation, which also created its central decision-making body, the ECB Supervisory Board.
In financial services, open banking allows for financial data to be shared between banks and third-party service providers through the use of application programming interfaces (APIs). Traditionally, banks have kept customer financial data within their own closed systems. Open banking allows customers to share their financial information securely and electronically with other banks or other authorized financial organizations such as payment providers, lenders and insurance companies.
EBA Clearing is a provider of pan-European payment infrastructure wholly owned by shareholders that consist of major European banks.
The European Payments Initiative (EPI), previously known as the Pan-European Payments System Initiative (PEPSI), is a European Central Bank-backed payment-integration initiative aiming to create a pan-European payment system and interbank network to rival Mastercard and Visa, and eventually replace national European payment schemes such as France's Carte Bancaire and Germany's Girocard.
The STET-CORE system is a French interbank automated clearing house that has been designated as a Systemically Important Payment System at the European level. STET, the name of the operating company, refers to Systèmes Technologiques d'Echange et de Traitement, and CORE, the name of the infrastructure itself, refers to COmpensation REtail.