RESOLUTION A3-0028/92

Resolution on easier cross-border payments in the internal market

The European Parliament,

- having regard to the Commission's working document: "Easier Cross-Border payments: Breaking down the Barriers; (SEC(92)0621),

- having regard to Rule 121 of its Rules of Procedure,

-having regard to the report of the Committee on Legal Affairs and Citizens' Rights (A3-0028/93),

A.whereas it is essential for the functioning of the internal market that consumers and businesses are able to make cross-border payments as quickly and as inexpensively as possible,

B.whereas many of the problems encountered by consumers and businesses alike in making cross-border payments could best be resolved by the introduction of a strict system of self-regulation

C.whereas some of the legal problems encountered in making cross-border payments can however only be resolved by the introduction of harmonizing legislation at Community level,

1.Calls on the Commission to introduce a directive with a view to harmonizing conflicting national legislation regarding the issues of finality and irrevocability and also insolvency;

2.Calls on Member States to liberalize their national legislation on banking to allow financial institutions active on their territory to offer their customers the possibility of holding giro accounts to effect ordinary payments in any freely convertible currency;

3.Calls on the financial institutions involved in cross-border payments to draw up and implement a strict code of conduct relating to technical standards;

4.Calls on the C.E.N. to grant recognition to the Committee on European Banking Standards as an "Associated Standardizing Body" to assist in the process of setting European standards;

5.Welcomes Commission Recommendation 90/109/EEC on transparency in cross-border financial transactions and calls on the Commission to expand and strengthen the existing Recommendation in such a manner as to encourage the development by financial institutions, in cooperation with consumer organizations, of transparency guidelines covering not only remote cross-border payments but also face-to-face cross-border payments;

6.Calls on the Commission to recommend that the national bodies established or to be established pursuant to Recommendation 90/109/EEC to deal with complaints should be granted sufficient authority to deal with cross-border complaints in liaison with the redress systems established by the other Member States concerned;

7.Calls on the Commission to negotiate reciprocal treatment and opportunities for Community financial institutions as regards cross-border payments with third countries, in particular the United States and Canada.

8.Instructs its President to forward this resolution to the Commission and Council.