Recital 1

(1)The reporting on the level of charges pursuant to Article 15(3) of Regulation (EU) No 260/2012 should enable the Commission to assess the impact of the rule on charges levied for instant credit transfers, as laid down in Article 5b(1) of that Regulation, on the charges for payment accounts, both for national and cross-border credit transfers, and for instant credit transfers in euro and in the national currency of the Member States whose currency is not the euro. Charges levied by payment service providers (PSPs) for credit transfers, including instant credit transfers, typically vary depending on the features of the credit transfer concerned. Such features may be whether the payment service user (PSU) is the payer or the payee, a consumer or not, or the type of payment initiation channel. The reporting on credit transfers sent should therefore include breakdowns by domestic and cross-border transfers, type of PSU and payment initiation channel.