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report parliamentary committee draft, 9 February 2024

On the Proposal for a Regulation of the European Parliament and of the Council on the provision of digital euro services by payment services providers incorporated in Member States whose currency is not the euro and amending Regulation (EU) 2021/1230 of the European Parliament and the Council

Document ECON-PR-758975 · (COM(2023)0368 – C90214/2023 – 2023/0211(COD))

Committee on Economic and Monetary Affairs · Rapporteur: Stefan Berger

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AI:In short

The draft report proposes amendments to the Commission's proposal on digital euro services by payment services providers in non-euro Member States. It renames 'digital euro' to 'Digital Euro' and extends distribution to all payment services providers in the Union.

Position. The rapporteur proposes amendments to the Commission proposal, mainly renaming 'digital euro' to 'Digital Euro' and broadening the scope of distribution to all payment services providers and customers across the Union.

Key points

  1. Amends the title to refer to 'Digital Euro' services, with changes applying throughout the text.
  2. Ensures all payment services providers in the Union can distribute Digital Euro under the same conditions to euro-area residents, former residents with Digital Euro wallets, and visitors.
  3. Extends distribution to natural and legal persons residing or established in non-euro Member States and other countries, as per the amended recital.
  4. Changes 'account' to 'wallet' in the definition of eligible persons.

Who is affected

  • Payment services providers in non-euro Member States: can distribute Digital Euro to a wider range of customers.
  • Natural and legal persons in non-euro countries: may receive Digital Euro services.

Legal basis. Article 294(2) and Article 114 of the Treaty on the Functioning of the European Union

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Full text

Draft european parliament legislative resolution 28 paragraphs

(COM(2023)0368 – C90214/2023 – 2023/0211(COD))

(Ordinary legislative procedure: first reading)

The European Parliament,

–having regard to the Commission proposal to Parliament and the Council (COM(2023)0368),

–having regard to Article 294(2) and Article 114 of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C90214/2023),

–having regard to Article 294(3) of the Treaty on the Functioning of the European Union,

–having regard to the opinion of the European Central Bank of 31 October 2023,

–having regard to the opinion of the European Economic and Social Committee,

–having regard to Rules 59 and 41 of its Rules of Procedure,

–having regard to the report of the Committee on Economic and Monetary Affairs (A90000/2024),

1.Adopts its position at first reading hereinafter set out;

2.Calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal;

Read the rest (16 paragraphs)

2.Instructs its President to forward its position to the Council, the Commission and the national parliaments.

Amendment 1

Proposal for a regulation

Title 1

Text proposed by the CommissionAmendment
Proposal for aProposal for a
REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCILREGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
on the provision of digital euro services by payment services providers incorporated in Member States whose currency is not the euro and amending Regulation (EU) 2021/1230 of the European Parliament and the Councilon the provision of Digital Euro services by payment services providers incorporated in Member States whose currency is not the euro and amending Regulation (EU) 2021/1230 of the European Parliament and the Council
(Text with EEA relevance)(Text with EEA relevance)
[This amendment applies throughout the text. Adopting it will necessitate corresponding changes throughout]

Or. en

Amendment 2

Proposal for a regulation

Recital 3

Text proposed by the CommissionAmendment
(3) It is essential to ensure that all payment services providers, whether incorporated in Member States whose currency is the euro or in Member States whose currency is not the euro, may distribute the digital euro and therefore exercise their freedom to provide services in the Union. The provision of digital euro payment service by all payment services providers would contribute to a high level of innovation, facilitate payments and increase competition across the Union and is necessary to safeguard the integrity of the single market. All payment services providers incorporated in the Union should therefore be in a position to distribute digital euro payment services under the same conditions to natural or legal persons residing or established in the Member States whose currency is the euro, to natural or legal persons who opened a digital euro account at the time they resided or were established in the Member States whose currency is the euro, but no longer reside or are established in such Member States, and to visitors in the euro area. Payment services providers incorporated in Member States whose currency is not the euro should also be in a position to distribute the digital euro to any other natural or legal persons residing or established in Member States whose currency is not the euro and in other countries of the European Economic Area or any third countries subject to the conditions laid down in the Regulation (EU) [please insert reference – proposal for a Regulation of the European Parliament and the Council on the establishment of the digital euro – COM(2023) 369 final].(3) It is essential to ensure that all payment services providers, whether incorporated in Member States whose currency is the euro or in Member States whose currency is not the euro, may distribute the Digital Euro and therefore exercise their freedom to provide services in the Union. The provision of Digital Euro payment service by all payment services providers would contribute to a high level of innovation, facilitate payments and increase competition across the Union and is necessary to safeguard the integrity of the single market. All payment services providers incorporated in the Union should therefore be in a position to distribute Digital Euro payment services under the same conditions to natural or legal persons residing or established in the Member States whose currency is the euro, to natural or legal persons who opened a Digital Euro wallet at the time they resided or were established in the Member States whose currency is the euro, but no longer reside or are established in such Member States, and to visitors in the euro area. Payment services providers incorporated in Member States whose currency is not the euro should also be in a position to distribute the Digital Euro to any other natural or legal persons residing or established in Member States whose currency is not the euro and in other countries of the European Economic Area or any third countries subject to the conditions laid down in the Regulation (EU) [please insert reference – proposal for a Regulation of the European Parliament and the Council on the establishment of the Digital Euro – COM(2023) 369 final].

Or. en

Amendment 3

Proposal for a regulation

Article 3 – paragraph 1 – point b

Text proposed by the CommissionAmendment
(b) natural and legal persons who opened a digital euro account at the time they resided or were established in the Member States whose currency is the euro, but no longer reside or are established in such Member States;(b) natural and legal persons who opened a Digital Euro wallet at the time they resided or were established in the Member States whose currency is the euro, but no longer reside or are established in such Member States;

Or. en