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CSSF clarifies the requirements for persons willing to benefit from the limited network exclusion under PSD II

CSSF clarifies the requirements for persons willing to benefit from the limited network exclusion under PSD II

Publications
01 June 2022
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Schmidt Carole
Carole Schmidt

Knowledge Counsel

Luxembourg
Image of Aubry Baptiste
Baptiste Aubry

Head of Finance regulatory

Luxembourg
Costica Andrei
Andrei Costica

Senior Associate

Luxembourg

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On 18 May 2022, the CSSF published CSSF circular 22/812 (the CSSF Circular) through which it integrates into its administrative practice and regulatory approach the EBA guidelines  on the so-called limited network exclusion (LNE) under Directive 2015/2366 (PSD II) (the Guidelines).

The LNE enables service providers to issue certain payment instruments or e-money without requiring a licence under PSD II. In this context, the CSSF also published a press release with further details on the notification process for persons willing to benefit from the LNE (the Press release) and a specific template notification form.

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