For example, it has a mechanism that would allow banks that adopt internal models for credit risk to alleviate the impact of the output floor on a temporary basis. There is also a proposal to postpone the deadline for applying the new rules for another two years, even though it had already been delayed by the Committee owing to the effects of the pandemic.
Irrespective of how the payments landscape evolves over the coming years, it is essential that users of the various payment systems can be confident that all payment solutions, old and new alike, are safe and efficient. To ensure that we have a safe, efficient and modern European payment system in the long term, though, we will need to work together at the European level.