The Council of the EU published final compromise texts for PSD3 (ST-8222-2026-INIT) and PSR (ST-8221-2026-INIT) on April 23-24, 2026. An 'I' Item Note from the General Secretariat, dated April 17, recommended that COREPER approve both texts for second-reading agreement with the European Parliament.
The PSR will apply 18 months after entry into force for its general provisions. The payee-name and unique-identifier verification obligation takes effect at 24 months. Settlement Finality Directive amendments enabling direct payment system participation by non-bank payment institutions apply after six months.
Official Journal publication is projected for end of Q2 2026. If published on that timeline, PSR general provisions would apply from early 2028.