UK: OBIE Publishes Illustrative Answers for PSD2 Contingency Exemption

On April 5, 2019, the Open Banking Implementation Entity (OBIE), in collaboration with UK Finance, published a document entitled "PSD2 Contingency Exemption Form Illustrative Answers - Publication V1", which illustrates example answers in response to requests by account servicing payment service providers (ASPSPs) who are preparing their application for an exemption from the contingency mechanism for the Financial Conduct Authority (FCA) forms.

The answers provided in the document have been made to align to the existing regulatory requirements and the FCA Approach Document, and seek to assist firms to assess how their implementation of application programming interface (API) standards meet the requirements of the revised Payment Services Directive (PSD2).

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