Prohibition against circumvention or evasion. The statute grants the Board authority to address circumvention or evasion of the interchange fee restrictions. Under the proposed rule, a finding of circumvention or evasion will generally depend on the facts and circumstances.
The two EU co-legislators and the Commission have been negotiating the new economic governance package during the preceding weeks. The European Parliament has confirmed its position at last Thursday’s plenary vote. The ECB particularly welcomes the strong message that is sent as regards the fact that the Stability and Growth Pact’s procedures have to be made more automatic.