Monday, August 18, 2003

NMa rejects interbank fee for urgent payments with notification

This press release of the NMa, the Dutch Competition Authority, informs us that the proposal of Dutch banks for an interbank interchange fee system for urgent transfers that include notitification of the receiver of the payment, has not been approved by the NMa. The banks, that have not charged one another for this service up to now, have not succeeded in explaining the reasonability of the introduction of the interbank fee structure to the NMa.

Other news of the NMa: a new director-general has been appointed (Mr Kalbfleisch) and the people may react to the consultation document containing the provisional agenda of the NMa for 2004. Financial markets remain on their radar, aided by the Monitor Financial Markets.