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

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01 June 2022

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.