Article 5 › 4

By 13 January 2017, EBA shall, after consulting all relevant stakeholders, including those in the payment services market, reflecting all interests involved, issue guidelines, addressed to the competent authorities, in accordance with Article 16 of Regulation (EU) No 1093/2010 on the criteria on how to stipulate the minimum monetary amount of the professional indemnity insurance or other comparable guarantee referred to in paragraphs 2 and 3. In developing the guidelines referred to in the first subparagraph, EBA shall take account of the following: (a) the risk profile of the undertaking; (b) whether the undertaking provides other payment services as referred to in Annex I or is engaged in other business; (c) the size of the activity: (i) for undertakings that apply for authorisation to provide payment services as referred to in point (7) of Annex I, the value of the transactions initiated; (ii) for undertakings that apply for registration to provide payment services as referred to in point (8) of Annex I, the number of clients that make use of the account information services; (d) the specific characteristics of comparable guarantees and the criteria for their implementation. EBA shall review those guidelines on a regular basis.

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Source: EUR-Lex CELLAR · retrieved 2026-08-27