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ECB Warns on SEPA Migration

The European Central Bank says companies are running out of time to implement Single Euro Payments Area structures.

By Jana Randow, Bloomberg | Updated on March 22, 2013

The European Central Bank warned that companies are running out of time to implement payment structures that are in line with region-wide standards.

“A number of companies have adopted very late internal deadlines” to migrate toward the Single Euro Payments Area, or SEPA, the ECB said today in a report. “This is a source of concern,” it said. “More worryingly, small and medium enterprises’ and local public administrations’ awareness of SEPA is still fragmented and the level of preparedness is rather poor.”

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