FIFA: Clearing House established in Paris (FRA) receives approval from French banking authority

"On Friday, 23/09/2022, the French Prudential Supervision and Resolution Authority (Autorité de contrôle prudentiel et de résolution, ACPR) granted the FIFA Clearing House (FCH) a licence to operate as a payment institution," announced the international federation on 29/09/2022.

In January 2022, FIFA opened an office in Paris (Hôtel de la Marine, Place de la Concorde, 8^th arrondissement, FRA), where it wished to launch the Clearing House, whose mission is to centralise club payments for transfers and to ensure the distribution of training compensation and solidarity contributions. The nature of the activity of this independent body as well as its establishment in France required a specific approval from the APCR, the administrative authority that supervises banks and insurance companies.

"The authorisation from the ACPR enables the FCH to collect and process payments on behalf of clubs, in accordance with the European Union Payment Services Directive (PSD2). This means that the FCH now has the green light to get up and running," explained FIFA.

• "The FIFA Clearing House is a key…