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​​EBA proposes banks’ conditions to gain waivers from need for fallback payment links

( June 14, 2018, 18:16 GMT | Official Statement) -- MLex Summary: EU banks should stress test their dedicated payment interfaces and document any downtime on those systems used to link with outside service providers, among other requirements to gain an exemption from having to create backup systems, the European Banking Authority said in proposed guidelines. As part of another document intended to clarify EU law, the EBA issued an opinion that, among other elements, banks do not have check the consent that their customers give to outside services for making payments or collecting account information.The following is the text of the statement. The full opinion and proposed guidelines are attached at bottom....

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