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December 21, 2018

BDE issued Circular 2/2018, which modifies Circular 4/2017 on rules of public and reserved financial information and financial statement models. Circular 2/2018 also modifies Circular 1/2013 on the Risk Information Center (Central de Información de Riesgos, or CIR) to incorporate minor changes to introduce clarifications and improvements. Circular 2/2018 enters into force on January 01, 2019. The main objective of Circular 2/2018 is to adapt Circular 4/2017 to Regulation (EU) 2017/1986. The Commission Regulation (EU) 2017/1986 amends Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council regarding the International Financial Reporting Standard (IFRS) 16 on leases. In this way, BDE continues to maintain compatibility of the accounting regime of Spanish credit institutions with the European accounting system, as already stated in Circular 4/2017.

Related Links (in Spanish)

Effective Date: January 01, 2019

Keywords: Europe, Spain, Banking, Accounting, IFRS 16, Leases, Circular 2/2018, BDE

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