Balance of payments (BoP) reporting issues were discussed in a number of fora. These included the Committee on Monetary, Financial and Balance of Payments Statistics, Eurostat's Balance of Payments Working Group, and a high-level Joint Task Force on the use of Payments Data for the Balance of Payments Statistics, set up by the European Central Bank (September 2007–January 2008).

The options related to BoP reporting are (4) maintain the existing threshold that exempts payment service providers from reporting on payment transactions below EUR 12 500; (5) create a voluntary Additional Optional Service (AOS) Community within SEPA that would allow the collection of statistical data from settlements to continue; (6) encourage voluntary adjustments by the Member States; and (7) address the BoP reporting problems through legislation, with three sub-options: (7a) raise the exemption threshold to EUR 50 000; (7b) abolish settlement-based BoP reporting obligations imposed on payment service providers; and (7c) raise t ...[+++]he exemption threshold to EUR 50 000 followed, in a second phase, by abolition of BoP reporting based on settlements by January 2012.

Balance of payments (BoP) reporting issues were discussed in a number of fora. These included the Committee on Monetary, Financial and Balance of Payments Statistics, Eurostat's Balance of Payments Working Group, and a high-level Joint Task Force on the use of Payments Data for the Balance of Payments Statistics, set up by the European Central Bank (September 2007–January 2008).

The options related to BoP reporting are (4) maintain the existing threshold that exempts payment service providers from reporting on payment transactions below EUR 12 500; (5) create a voluntary Additional Optional Service (AOS) Community within SEPA that would allow the collection of statistical data from settlements to continue; (6) encourage voluntary adjustments by the Member States; and (7) address the BoP reporting problems through legislation, with three sub-options: (7a) raise the exemption threshold to EUR 50 000; (7b) abolish settlement-based BoP reporting obligations imposed on payment service providers; and (7c) raise t ...[+++]he exemption threshold to EUR 50 000 followed, in a second phase, by abolition of BoP reporting based on settlements by January 2012.

The quality of the data transmitted shall be assessed, on the basis of the quality reports, by the Commission with the assistance of the Balance of Payments Committee referred to in Article 11.

The present facility providing medium-term financial assistance for Member States' balances of payments was established by Council Regulation (EEC) No 1969/88 of 24 June 1988, which merged two Community financial mechanisms, namely the machinery for medium-term financial assistance [1] and the Community loan mechanism designed to support the balance of payments of Member States, [2] into a single facility providing medium-term financial assistance.