EBA: Final guidelines on major incident reporting under PSD2

Following a consultation, EBA has now published its final guidelines which set out the criteria, thresholds and methodology to be used by payment service providers in order to determine the severity of an operational or security incident and which provide a set of criteria that competent authorities have to use as primary indicators when assessing the relevance of a major operational or security incident to other domestic authorities in the context of PSD2. EBA notes that it has made some amendments to the guidelines following feedback. The Guidelines will apply from 13 January 2018.