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On 23 April 2026, the Council of the European Union (Council) published the awaited final compromise texts for the legislative proposals on the Third Payment Services Directive (PSD3) (here) and the Payment Services Regulation (PSR) (here).
The publication of PSD3/PSR final compromise texts will better enable payment institutions, e-money institutions and in-scope credit institutions to plan and prepare for implementing this new suite of EU payment services legislation.
Background
In November 2025, negotiators for the Council and the European Parliament reached a provisional political agreement on PSD3 and PSR. However, the final compromise texts of PSD3 and PSR were not published at that time and have been awaited until now. For further information, please see our article here.
Next steps
The Council has also published an I item note dated 17 April 2026 (here) from its General Secretariat to the Permanent Representatives Committee (COREPER), which suggests that COREPER approves these texts with a view to reaching an agreement at second reading with the European Parliament.
The final texts must be formally adopted by the European Parliament and the Council before they can be published in the Official Journal of the EU and come into force.
Contributed by Jane Balfe
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