Abwicklung von SEPA-Zahlungen zentral, dezentral oder bilateral

Transcription

1 Abwicklung von SEPA-Zahlungen zentral, dezentral oder bilateral Zahlungsverkehr in Deutschland im Jahr 2015: Zukünftige Abwicklungsinfrastruktur ein Ausblick Zahlungsverkehrssymposium der Deutschen Bundesbank Frankfurt am Main, 15. Juni 2015 Hays Littlejohn, CEO, EBA CLEARING

2 Agenda STEP2: a central SIPS platform for SEPA and other XML payments in Germany and Europe, developed in co-operation with banks across Europe Central, decentral, bilateral: key considerations and the positioning of EBA CLEARING 2

3 STEP2: the pan-european platform for SEPA 100% reachability SCT AOS/VAS, other XML Services (e.g. SCC) SDD Resilience Governance Performance Functionality Pricing Compliance: Systemically Important Payment System 3

4 STEP2 reach 4,812 STEP2 SCT Reachable BICs 131 of which are Direct Participants , Status: May 2015 European Union member states Other European Economic Area countries

5 STEP2 volume evolution (daily average figures) Millionen SEPA Migration End-Date End of SEPA Migration transition period STEP2 Card Clearing Service live SCC SDD 15 SCT

6 STEP2 cost efficiency average price per transaction 45% 27% 41% 61%

7 STEP2 usage in Germany 14 Direct Participants from Germany in STEP2 SCT and SDD Core, 6 Direct Participants and Deutsche Bundesbank as cooperation partner in STEP2 CC Percentage of total monthly traffic sent by country (status April 2015) FI 8.03% IT 13.43% SCT FR 6.15% NL 5.06% IE 3.16% BE 1.37% LV 1.21% AT 0.96% DE 55.64% Others 5.01% NL 11.32% SDD Core IT 7.01% FR 6.84% BE 5.76% IE 1.64% ES 0.88% GB 0.83% PT 0.50% AT 0.18% Others 0.24% DE 64.79% SCT Batch processing SDD Batch processing COR1 processing 27.44% 48.97% 11.2 % Bulk % of total Batch % of total 72.56% Bulk % of total Batch % of total 51.03% CORE payments COR1 payments 88.8 % 7

8 Agenda STEP2: a central SIPS platform for SEPA and other XML payments in Germany and Europe, developed in co-operation with banks across Europe Central, decentral, bilateral: key considerations and the positioning of EBA CLEARING 8

9 STEP2 Batch processing: how it works Single (bulk) processing Batch processing 9

10 The STEP2 Batch processing approach Adding key benefits of bilateral exchange to central processing Batch processing is a highly efficient and cost-effective processing mode pioneered by the major German payment banks Combines key benefits of the former German bilateral approach ( Garagenclearing ) with the benefits of using a central SIPS platform with SEPA-wide reach Optimal processing method for parties that regularly exchange large retail payment volumes between each other: Payments are grouped by receiving banks at the sending end STEP2 only carries out a reduced number of validation checks at transaction level The use of Batch processing is based on bilateral agreements between banks Batch processed transactions can be processed at a lower cost 10

11 Central processing vs. bilateral exchange Benefits of a central platform Oversight and resilience requirements can be implemented very efficiently and cost-effectively Functionality is introduced at a pan-european level and new service developments can be taken forward by a larger community of banks from the start (e.g. STEP2 Card Clearing) Banks can take advantage of the platform s multilateral netting effect The use of a central platform increases economies of scale Banks have to manage and monitor fewer channels and handle fewer contracts Banks are free to choose via which network they want to connect to the platform One centrally overseen platform rather than multiple binary pairs increased flexibility compared to bilateral clearing and fewer hidden risks and costs 11

12 Central processing vs. decentralised processing Decentralised processing models Interoperability/interlinking established between different clearing platforms of which none provides pan-european reach Benefits: No single point of failure Possibility to re-use existing domestic infrastructure components Easier catering to specific domestic needs Disadvantages: Multiple oversight regimes/bodies No economies of scale and extra costs related to additional complexity Other risks include translation errors, standards divergence, dispute ownership and lack of harmonisation Distributed consensus ledgers: singular repository of transactions without the need for centralised control of the ledger itself, which is secured via private keys Assessment by market players of the pros and cons of cryptotechnology is ongoing as it might hold some promise for the technical design of closed, central systems in the future 12

13 Outlook on next steps and EBACL positioning Payer Payer s PSP Instruments Processing Settlement Instant payments Services Add, e.g. proxy database Reuse/ Enhance EBA CLEARING proprietary to EBA CLEARING User experience of instant Reuse/adapt/ new platform Options Value-added services Payee Bank-to-Bank infrastructure space Payee s PSP Service Layer: Products Services Various channels Mobile p2p schemes.. Space for central and decentralised offerings Clearing layer: Account-to-account transfer processing Clearing Settlement A central pan-european clearing infrastructure for instant payments would offer major benefits re. processing speed, risk reduction, liquidity savings etc. 13

14 EBA CLEARING 40 rue de Courcelles, F Paris Tel