Regulatory Alerts2022-04-06
Circular 3/2022 of the Bank of Spain, of March 30, amending Circulars 2/2016, 2/2014, and 5/2012
The Bank of Spain issued Circular 3/2022 to transpose the CRD V and CRR II European banking directives into Spanish law, thereby modifying the regulatory framework for credit institutions' supervision, solvency, and prudential options. The circular updates capital buffers, remuneration policies, and internal governance rules while introducing specific transparency obligations for revolving consumer credit contracts. These amendments aim to align national regulations with EU standards, enhance legal certainty, and strengthen consumer protection measures.
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