17 September 2002
Proposed Sanctions for breach of the Regulation on Cross-Border payments in Euro: Consultation
In December 2001, the European Parliament and the Council of the European Union adopted the Regulation on cross-border payments in euro. It came into force on the 31st December 2001. The main objective of the Regulation is to prohibit institutions from charging more for certain cross-border payments in euro than for corresponding payments in euro transacted within the Member State. Further, it requires institutions to be transparent with their charges for such payments and to disseminate International Bank Account Numbers and Bank Identifier Codes in order to facilitate cross-border credit transfers.
This consultation document proposes sanctions for the breach of the Regulation in the United Kingdom, as required by Article 7.
Responses should be sent by 17 December 2002 to:
Nick Barter
European Financial Services Team
HM Treasury
1 Horse Guards Road
London SW1
Tel: 020 7270 1386
Fax: 020 7270 4322
The documents are available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website.
There are also text versions of the documents available below.
PDF file of The Cross-Border Payments in Euro Regulations 2002: Annex A Draft Statutory Instrument (13KB)
PDF file of Regulation on Cross-Border Payments in Euro 2002: Annex B (108KB)
PDF file of Statutory Instrument, The Cross-Border Payments in Euro Regulations 2003(13Kb)