Listening to the community, the ECB has tried to better understand the potential effects of SEPA for the different stakeholders. In general, we expect that the overall impact for the banking industry will vary according to different scenarios and stages of the SEPA project.
In the short run, the coexistence of SEPA schemes in parallel with the national schemes is, for example, expected to lead to initial investment costs and a relatively neutral impact on the revenue side for the banking industry.