TITLE

As Sepa Deadline Approaches, Bank Clients Seek Guidance

AUTHOR(S)
Sandman, John
PUB. DATE
January 2008
SOURCE
Securities Industry News;1/21/2008, Vol. 20 Issue 3, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that a group of German companies is calling for clearer guidance on the Single Euro Payment Area (Sepa) payment system. Banks in all European Union member countries are required to migrate their corporate clients into the new system beginning January 2008. They must supply international bank account numbers (IBAN) and bank identification codes (BIC) for payment transfers. The German group questioned the Sepa ground rules and its focus on interbank business.
ACCESSION #
28812630

 

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