Track: Payment Systems

Impact of SEPA on European Financial Services

Monday, October 20, 2008
4:00 p.m. - 5:30 p.m.
Room: 408 B

This session will provide an update on the SEPA Credit Transfer (SCT) scheme since its launch earlier this year, focusing on the Payments Services Directive (PSD) and SEPA Direct Debit (SDD). We will address the impact of these measures on U.S. corporates, and put SEPA into a global context. Will these new instruments make life more difficult? Why would in-country accounts and services still be needed and for whom?

Speakers:

• Robert J. Lyddon
  Managing Director
  IBOS Association

• Mark Reid
  Senior Vice President, International Product Management
  U.S. Bank

Objectives

• Learn about the current status of the implementation of SEPA and how it has/has not changed the market structure for payments in Europe
• Learn what practical steps a US-based corporate can take to benefit from the state so far, and from the next year's events
• Learn the likely work/impacts facing a US-based corporate up to Nov 2009 as EU banks come into compliance with PSD
• Find out how to prepare for PSD and see whether the corporate will be better or worse off as a result

Pre-Requisites

• Involvement in payments and cash management in the EU due to their company having subs or trade with the EU
• Reasonably current knowledge of the EU payments environment as it has existed before SEPA and PSD

Take-Aways

• Realistic action steps towards gaining benefits from SEPA in the following 12 months
• Prep work needed leading to second round of actions steps with benefits flowing 12-24 months out

CPA Field of Study: MAS