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DRAFT REPORT (COM(2023)0364 – C90216/2023 – 2023/0208(COD))

On the proposal for a regulation of the European Parliament and of the Council on the legal tender of euro banknotes and coins

ECON-PR-758001

Committee on Economic and Monetary Affairs · Rapporteur: Stefan Berger

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This is the rapporteur's draft report on the Commission proposal for a regulation on the legal tender of euro banknotes and coins. It adopts a first-reading position with amendments. The amendments add a new Article 5a banning payees from using non-negotiated contractual terms or commercial practices, such as 'no cash' signs, that exclude euro cash, and place the burden of proof on the payee for agreed alternative payment methods. They delete Article 6, which empowered the Commission to adopt delegated acts identifying additional exceptions to mandatory acceptance. They require Member States to monitor access to cash using common indicators weighted by national indicators, and list criteria such as ATM distance, deposit availability, banknote values, counter services, accessibility and charges. ATM providers and payment service providers must carry out an impact assessment before closing a branch or ATM and notify the national competent authority. The Commission must consult the European Central Bank when preparing implementing acts, and the delegation period is set at five years with a three-month objection period.

Committee position. The rapporteur proposes that the committee adopt a first-reading position with amendments: adding a ban on ex ante unilateral exclusions of cash, deleting the Commission's power to adopt additional exceptions, and strengthening monitoring and consultation requirements.

Key points

  1. The draft report adopts a first-reading position on the proposed regulation on the legal tender of euro banknotes and coins.
  2. A new recital states the regulation applies to payment obligations giving rise to pecuniary debts settled in cash, but not to distance payments.
  3. Member States should monitor access to cash using common indicators, including density of access points, withdrawal and deposit conditions, fees, networks, urban-rural and socio-economic variations, and access difficulties for certain groups.
  4. The Commission may adopt implementing acts addressed to a specific Member State when national measures are insufficient or ex ante unilateral exclusions of cash undermine mandatory acceptance or access to cash.
  5. A new recital states that unilateral practices such as non-acceptance of cash by public entities, including public hospitals and museums, should be considered ex ante unilateral exclusions of cash.
  6. A new recital states that payees subject to mandatory acceptance of digital euro should not unilaterally exclude cash through non-negotiated contractual terms or commercial practices.
  7. The definition of 'ex ante unilateral exclusions of cash' is amended to include use of a pre-formulated standard form contract.
  8. A new Article 5a prohibits payees from using non-negotiated contractual terms or commercial practices, including 'no cash' signs, that exclude euro cash, and such terms are not binding on the payer.
  9. Article 6, which empowered the Commission to adopt delegated acts identifying additional exceptions to mandatory acceptance, is deleted.
  10. Member States must monitor access to cash using common indicators weighted by national indicators, assessing criteria such as ATM distance, deposit availability, banknote values, counter services, accessibility and charges.
  11. ATM providers and payment service providers intending to close a branch or ATM must perform an impact assessment, notify the national competent authority, and take remedial measures if access is insufficient.
  12. The Commission must consult the European Central Bank when preparing implementing acts, and the delegation period is set at five years with a three-month objection period.

Who is affected

  • Payees subject to mandatory acceptance of euro banknotes and coins, who face a ban on non-negotiated terms or practices excluding cash.
  • Member States, which must monitor access to cash using common indicators and may face Commission implementing acts.
  • ATM providers and payment service providers, which must assess and notify before closing branches or ATMs.
  • Public entities such as public hospitals and museums, whose non-acceptance of cash is considered an ex ante unilateral exclusion.
  • The European Central Bank, which must be consulted when the Commission prepares implementing acts.

Figures and deadlines

  • five years, the period for which delegated acts are conferred on the Commission.
  • nine months before the end of each five-year period, deadline for the Commission to draw up a report on the delegation of power.
  • three months before the end of each period, deadline for Parliament or the Council to oppose extension of the delegation.
  • three months, the period for objection to a delegated act by Parliament or the Council.
  • three months, the extension of the objection period at the initiative of Parliament or the Council.

Legal basis: Article 294(2) and 133 of the Treaty on the Functioning of the European Union.