Press Release: Single Euro Payments Area (SEPA): Commission introduces an additional transition period of six months to ensure minimal disruption for consumers and businesses

The Commission adopted on 9 January 2014 a proposal to give an extra transition period of six months during which payments which differ from the SEPA format can still be accepted so as to minimise any possible risk of disruption to payments for consumers and businesses. The proposal did not change the formal deadline for migration of 1 February 2014.

• Primary Source

ESO: Background information: ECB and Bundesbank urge speed up of Sepa switchover http://www.europeansources.info/record/ecb-and-bundesbank-urge-speed-up-of-sepa-switchover/

ESO: Background information: Single euro payments area (SEPA) http://www.europeansources.info/record/website-single-euro-payments-area-sepa/

ESO: Background information: Second SEPA Migration Report, October 2013 http://www.europeansources.info/record/second-sepa-migration-report-october-2013/

ESO: Background information: New payment services lack security standards, officials warn / EU Commission delays Single Euro Payments Area by 6 months http://www.europeansources.info/record/new-payment-services-lack-security-standards-officials-warn-eu-commission-delays-single-euro-payments-area-by-6-months/

Council of the European Union: Press Release, PRES/14/12: Extension of deadline for SEPA migration: Council confirms deal with EP http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/140734.pdf

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