EBA CLEARING and Europe's banking infrastructure

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1 EBA CLEARING and Europe's banking infrastructure How can banks build for success in payments? David Renault, Senior Manager STEP2 Erwin Kulk, Senior Manager STEP2

2 Overview Introduction to STEP2 STEP2 concepts Recent developments Beyond the SEPA migration 2

3 Video introduction to STEP2 3

4 Overview Introduction to STEP2 STEP2 concepts Recent developments Beyond the SEPA migration 4

5 STEP2 concepts Efficiency Capacity Resiliency Reachability 5

6 STEP2 concepts: Efficiency Cost efficiency through the use of the same system for the national payment traffic of several communities and for cross-border euro payment traffic within SEPA Liquidity efficiency savings through multilateral netting Pricing model taking into account different user profiles and requirements 6

7 STEP2 concepts: Capacity Capability of handling hundreds of millions of SEPA payments per day all over Europe in a reliable and fast manner Faster processing option (batch processing) for SCT and SDD based on pre-sorted files per receiving participants 7

8 STEP2 concepts: Resiliency Back-up site synchronised in real-time with primary site Third site >500km away from the other two sites will further strengthen the system s high resilience levels Preparation for compliance with Systemically Important Payment Systems (SIPS) requirements Enhancing settlement certainty of STEP2 8

9 STEP2 concepts: Reachability Full reach for SEPA Credit Transfers (4,600+ BICs) Full reach for SEPA Direct Debit Core (3,800+ BICs) Over 3,300 BICs reachable in SEPA Direct Debit B2B Building full reach for Core D-1 option Support of many Additional Optional Services (AOS) Links established with 14 other SEPA CSMs 9

10 STEP2: The European ACH 10 STEP2 A solid basis for a Pan-European Clearing House (PE-ACH) 10

11 Overview Introduction to STEP2 STEP2 concepts Recent developments Beyond the SEPA migration 11

12 SCT: Frequent settlement throughout the day Settlement every two hours 11:30 SCT12 2 optional night-time cycles 9:30 SCT11 7:30 SCT10 14:30 SCT20 16:20 SCT21 12

13 SDD: Multiple notifications throughout the day 11:45 SDD Core 12:45 SDD B2B Settlement mid-day for Core and B2B DNF-6 Debit notifications sent six times a day DNF-5 DNF-4 DNF-2 DNF-1 DNF-3 13

14 Increased resiliency Primary site Local DR site Local DR site Third site Recovery Time Max. data loss Inter-site disaster declaration 2 hours 0 Regional disaster declaration 4 hours 15 minutes 14

15 A network independent system STEP2 has always been network independent Since the launch, SIANet and SWIFTNet have been supported EBICS will be added as new connectivity method from 14 th October

16 Facts & Figures days of live SEPA Services SEPA transactions already processed 16

17 Volumes STEP2 18,000,000 15,000,000 12,000,000 9,000,000 6,000,000 3,000,

18 STEP2 and EBA CLEARING bring banks together SCT migration completed in Finland Carport clearing ( Garagenclearing ) migration program in Germany Support migration in the Baltic area Building COR1 reach STEP2 roadshow in Central Europe, National Bank of Slovakia joining STEP2 Agreement with ICBPI and Banca d Italia to support smooth migration Special interest session Croatia 18

19 Overview Introduction to STEP2 STEP2 concepts Recent developments Beyond the SEPA migration 19

20 Drivers for change STEP2 will further evolve in three directions: Further cost savings for our participants Risk control measures Enrichments of the functionalities requested by users 20

21 Compliance with PFMIs Consolidate positions across services Irrevocability file processing Governance SDD contingency cycle 21

22 User change requests Larger input and output files IBAN-BIC directory SDD later cut-offs SDD with additional certainty Real time payments 22

23 Economies of scale Additional domestic migration Re-using STEP2 outside Europe Other currencies in Europe SEPA Card Clearing 23

24 Conclusions 24 STEP2 A proven platform created by users for users 24

25 EBA CLEARING 40 rue de Courcelles, F Paris Tel

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