Cross-Border Credit Transfers, SEPA Project Implementation and their Effect on SME´s

Authors

  • Otakar Schlossberger University of Finance and Administration, Estonská 500
  • Karel Havlicek University of Finance and Administration, Estonská 500

DOI:

https://doi.org/10.31578/job.v2i1.51

Keywords:

cross-border credit transfer, directive, ecb, European Commission, price, regulation, SEPA project, SME - small and mediumsized enterprise

Abstract

In Czech Republic we noticed the term “cross-border payments” for the first time more than 20 years ago. Then Czech Republic was not amember of the European Union yet (it became an EU member in 2005) nevertheless as early as in 1990 the EU had shown its interest in startingregulating a banking area not regulated until then, i.e. the payments. SEPA project emerged more than ten years later. It looked into issues which had been adopted by EU during gradual implementation ofcross-border credit transfers. Why was it actually created? And has it contributed to satisfaction of the needs of mainly small clients, representedparticularly by consumers and small and medium-sized enterprises, related to transfers of funds of EU countries? The presented text deals with issues of cross-border credit transfers implementation in relation to SEPA project results, it answers the questionwhether at the moment SEPAproject coincides with cross-border credit transfers or not and in the conclusion it evaluates thepossible effect
ofcross-border credit transfers implementation on small and medium-sized enterprises.

Author Biographies

Otakar Schlossberger, University of Finance and Administration, Estonská 500

Ph. D., Head of Finance Department, Faculty of Economic Studies, University of Finance and Administration, Estonská 500, Prague

Karel Havlicek, University of Finance and Administration, Estonská 500

Ph.D., Faculty of Economic Studies, University of Finance and Administration, Estonská 500, Prague

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Issue

Vol. 2 No. 1 (2013)

Section

Articles