# PSR Article 123 — Correlation table

Textual state: amended_substantial. 15 words changed

- Compared text: Council position at first reading (Council document 8543/26) — not yet law.
- Compared against: Council document 8221/26 — superseded.
- Classification is mechanical; method: https://paymentslaw.eu/method/
- Editorial review state: not_assessed. Editor's notes are selective, not a complete assessment.

Word-level diff for each step, earlier → later edition: `{+text+}` was inserted, `[-text-]` was deleted.

## Step 1 · Commission proposal (2023) to Council compromise text (April 2026)

Article 111 → 111. Textual state: amended_limited. 2 words changed

- Editorial review state: not_assessed.

### Unnumbered text

Any reference to Directive (EU) 2015/2366 and to Directive 2009/110/EC shall be construed as a reference to Directive (EU) (PSD3) or to this Regulation and shall be read in accordance with the correlation table in {+the +}Annex [-III -]to this Regulation.

## Step 2 · Council compromise text (April 2026) to Council position at first reading (October 2026)

Article 111 → 123. Textual state: amended_substantial. 15 words changed

- Editorial review state: not_assessed.

### Unnumbered text

[-Any reference -]{+References +}to [-Directive -]{+Directives 2009/110/EC and +}(EU) 2015/2366 [-and to Directive 2009/110/EC -]shall be construed as a [-reference -]{+references +}to Directive (EU) [-(PSD3) -]{+2026/…++ +}or to this Regulation and shall be read in accordance with the correlation table in the Annex to this Regulation.