Regulatory Alerts2016-01-29
Circular 1/2016 of the Bank of Spain, of January 29, modifying Circular 1/2015 regarding information on discount and interchange rates received by payment service providers
The Bank of Spain issued Circular 1/2016 to modify Circular 1/2015, requiring payment service providers to submit enhanced and comparable data on discount and interchange rates received for card transactions. This regulation replaces the previous TID statements with new formats to facilitate the analysis of fee information. The new reporting requirements apply to the last natural quarter of 2015, with the circular entering into force the day after its publication in the Official State Bulletin.
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