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Recital 16

Recital 16

(16)In order to guarantee the continuous, timely and efficient provision of balance-of-payments statistics in the framework of the Single Euro Payments Area (SEPA), it is desirable to ensure that it remains possible to collect readily available payments data, such as the IBAN, the BIC and the amount of the transaction, or basic, aggregated payments data for different payment instruments, if the collection process does not disrupt the automated payments processing and can be fully automated. This Regulation does not affect reporting obligations for other policy purposes, such as for the prevention of money laundering or terrorist financing, or for fiscal purposes.

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