The Bank of Italy actively participated in the adoption of the new directive, supporting the Government since the start of the Italian EU presidency in the second half of 2014 when the text of the PSD2 took shape.
This answer is based on recent reductions in bank funding costs. Not only have these costs declined as a result of the change in monetary policy, but they have also declined because of 3/4  BIS central bankers' speeches  movements in market-based spreads. Last year, these spreads increased and most lenders responded by increasing their standard variable rates by around 15 basis points.