Regulatory Alerts2015-12-18
Circular 8/2015 of the Bank of Spain on Information to Determine the Calculation Base for Contributions to the Deposit Guarantee Fund of Credit Institutions
The Bank of Spain issued Circular 8/2015 to replace Circular 4/2001, establishing updated reporting requirements for entities and branches affiliated with the Deposit Guarantee Fund of Credit Institutions (FGD). The circular mandates quarterly electronic submission of specific financial data to calculate contribution bases, defines valuation criteria for deposits and financial instruments, and requires the maintenance of detailed deposit registers. It also introduces additional reporting obligations for credit institutions participating in institutional protection systems with ex ante funds and sets transitional provisions for data from 2014 and 2015.
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