On June 13, 2018, the European Banking Authority (EBA) launched a consultation on Guidelines on the conditions to be met to benefit from an exemption from contingency measures under Article 33(6) of Regulation (EU) 2018/389 Regulatory technical standards on strong customer authentication and common and secure open standards of communication (RTS on SCA & CSC). The guidelines are expected to be applied from January 1, 2019.
The draft guidelines aim to ensure a common, uniform and consistent implementation of the criteria to assess whether to grant an exemption from the obligation to have a fallback mechanism in place under Article 33(6) of the RTS.
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