On 6 March the European Banking Authority (EBA) launched a public consultation on four draft Regulatory Technical Standards (RTS) that will be part of the EBA’s response to the European Commission’s Call for Advice.

‘Regulatory Technical Standards (RTS)’ are a covert term for further regulation, which could potentially have a major impact on the large group of obliged entities, which includes not only large companies like banks, but also sole traders and SMEs.