BT-REQ-3972 PSD3 Impacts v6(without crop marks) RL - Flipbook - Page 5
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HL | PSD3 Impacts
2. Latest
developments in
legislative process
and expected
timing
The Council of the EU’s drafts of PSD3 and the
accompanying PSR were approved by COREPER
on 18 June 2025, meaning that the trilogue process
can now begin.
Whilst the Council does not appear to have
deviated wildly from the original text, there are
points of contention and differences. Trilogues can
often be a long process; however, there is strong
appetite to get both files concluded under the
Danish presidency which concludes at the end of
the year.
At present there is an 18-month implementation
period (although the Council proposes to extend
this to 24 months). As such, the earliest PSD3/ PSR
is likely to become applicable is H2 2027, although
this could move into early 2028 if the Council
is successful in extending the implementation
period.
