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The Eurosystem, which comprises the European Central Bank (ECB) and the 16 national central banks of the euro area (NCBs), has today published the final versions of the “Oversight Framework for Credit Transfer Schemes” and the “Oversight Framework for Direct debit Schemes.” The new frameworks will help strengthen the soundness and efficiency of credit transfers and direct debits schemes by highlighting risks that could have an overall impact on the confidence of users of the instrument. In this way, they will ultimately contribute to maintaining confidence in the currency and promoting an efficient economy. The publication of the frameworks follows a public consultation, which took place between 10 August and 10 November 2009, and was intended to gather comments from interested parties on...
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