Featured Product

    BDE Issues Circular on Guarantee Fund of Deposits in Spain

    January 31, 2018

    BDE issued Circular 1/2018, which modifies Circulars 5/2016 and 8/2015 and enters into force on the day following its publication in the Official State Gazette. Circular 5/2016 specifies the method of calculation to ensure that the contributions of the entities that adhere to the guarantee fund of deposits are proportional to their risk profile. Circular 8/2015 is addressed to the entities and branches attached to the guarantee fund of deposits of credit institutions and specifies information to determine the basis for calculating the contributions to the guarantee fund of deposits of credit institutions.

    The revision to Circular 5/2016 is intended to accommodate the legal system to the circumstance, guaranteeing that the contribution regime to the Guarantee Fund of Deposits takes into account the risk profile of the member entities that are part of a Institutional Protection Systems. Additionally, adequate implementation of the modification of Circular 5/2016 requires the provision of sufficient information by the Bank of Spain. A second rule and a new annex have been introduced in Circular 8/2015 while Section 4.3 in Standard 2, Rule 3, and a section in Standard 4 have also been introduced in Circular 5/2016. Other amendments to Circular 5/2016 are modifications to:

    • Section on "Normative references used in this Circular"
    • Section 4 of Rule 1 
    • Sections 3.1, 3.2, 4, 4.1, 4.2 and 5.2 of Standard 2
    • Appendix 1 and Appendix 2 
    • Sections 2, 3, and 5 of Standard 4

     

    Related Links (in Spanish)

    Keywords: Europe, Spain, Banking, Guarantee Fund of Deposits, CRR, Circular 1/2018, Circular 5/2016, Circular 8/2015, Proportionality, BDE

    Related Articles
    News

    EU Amends IFRS 9 Rule, Changes Concern Interest Rate Benchmark Reforms

    EU published Regulation 2020/34 regarding the International Accounting Standard (IAS) 39 and International Financial Reporting Standards (IFRS) 7 and 9.

    January 16, 2020 WebPage Regulatory News
    News

    FDIC and OCC Issue Statement on Heightened Cyber Security Risk

    In response to the heightened cyber-security risk facing the financial services industry and other critical business sectors, FDIC and OCC issued an interagency statement on heightened cyber-security risk.

    January 16, 2020 WebPage Regulatory News
    News

    BCRA Updates Regulation on Capital Requirements and Information Regime

    BCRA updated the rules on minimum capital requirements for financial entities and on certain aspects of the information transparency regime for quarterly and annual supervision.

    January 16, 2020 WebPage Regulatory News
    News

    BoE and FCA Outline Next Steps for LIBOR Transition in 2020

    BoE, FCA, and the Working Group on Sterling Risk-Free Reference Rates (RFRWG) have published a set of documents that outline the LIBOR transition priorities and milestones for 2020.

    January 16, 2020 WebPage Regulatory News
    News

    BIS to Expand Central Bank Membership

    BIS is to expand its central bank membership base and to increase collaboration in its work as a forum for international cooperation and as a hub for central banks and other financial authorities.

    January 14, 2020 WebPage Regulatory News
    News

    EIOPA Issues Technical Specifications for Market and Credit Risk Study

    EIOPA published the technical specifications, including instructions, for the market and credit risk modeling comparative study for year-end 2019.

    January 13, 2020 WebPage Regulatory News
    News

    FED Publishes FAQs on Tailoring Rules for Banks

    FED released a letter announcing the publication of an initial set of frequently asked questions (FAQs) in response to questions from institutions.

    January 13, 2020 WebPage Regulatory News
    News

    IA of Hong Kong Publishes Stress Testing Scenarios in Relation to ORSA

    IA of Hong Kong published the prescribed scenarios for stress and scenario testing to be used by the authorized insurers conducting general insurance business.

    January 13, 2020 WebPage Regulatory News
    News

    FDIC Letter on Submission of Call Reports by End of January 2020

    FDIC, in a letter to financial institutions, announced that the Consolidated Reports of Condition and Income (Call Reports) for the December 31, 2019 report date must be submitted to the Central Data Repository of the relevant US agencies by January 30, 2020.

    January 13, 2020 WebPage Regulatory News
    News

    EBA Consults on Calculation of Own Funds Requirements for Market Risk

    EBA is consulting on the draft regulatory technical standards for calculation of the own funds requirements for market risk, under the standardized and internal model approaches of the Fundamental Review of the Trading Book (FRTB) framework.

    January 13, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4495