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Purpose & Aims of EACT Print E-mail

The Purpose of EACT is to group the National Associations of Corporate Treasurers and Financiers of the countries belonging to the European Union.

EACT's aims are

  • To develop and strengthen relations with European authorities and institutions
  • To share experiences, express common points of view, undertake joint actions on financial and treasury matters as well as relationships with financial partners
  • To carry out and publish joint surveys and working papers

Any National Association of Corporate Treasurers and/or Financiers of a European country and/or a country, which has made application to join the European Union, may have the status of observer.

Topics already addressed by EACT include: European Securities Regulations, international accounting standards on financial instruments, cross-border payments, harmonisation of business rules of conduct, Basel regulations on banking supervision.

Last Updated ( Friday, 04 July 2008 )
 
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Use of IBAN and BIC in European Credit Transfers – Public Consultation

The EPC Customer Stakeholder Forum (CSF) representing the EPC and customer organisations acting on a European level have prepared a set of questionnaires to investigate the actual experience of users inputting the IBAN and the BIC.

IBAN is a problem in a number of countries who still use old bank coordinates. The two main reasons for this are that IBAN is not yet mandated by national law in these countries, and that they do not have the IBANs for their suppliers and IBANs cannot be safely obtained from BBAN by a safe algorithm.

The first problem will be solved when the SEPA end date is fixed. The second, however, requires cooperation among customers, suppliers and banks and, possibly, a smart solution like the one implemented in Italy where corporates receive IBAN updates directly from banks.
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