Progress Report
The official progress report is published here. In October 2010, the European Central Bank published its seventh progress report on SEPA (see external links below). While acknowledging some progress since the last report, the ECB expressed disappointment at the volume of work remaining to bring the SEPA to fruition and requested banks, regulators, and the software industry to continue working. The European Central Bank regards SEPA as an essential element to advance the usability and maturity of the euro. SEPA went live in January 2008, but as of May 2012 only 28.2 percent of credit transfers within Europe are executed in accordance with SEPA standards.
Read more about this topic: Single Euro Payments Area
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