Regulatory Alerts2017-10-24
Circular 3/2017 of the Bank of Spain, of 24 October, amending Circular 2/2014
The Bank of Spain issued Circular 3/2017 to amend Circular 2/2014, restricting its scope to less significant entities and aligning national regulatory options with European Central Bank guidelines. The amendment introduces specific liquidity exit rate assumptions for commercial financing, allows a 3% multiplier for stable retail deposits, and permits Level 2B asset treatment for religious entities. It also establishes transitional capital recognition rules for defined benefit pension funds and deferred tax assets while removing obsolete provisions.
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