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

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Circular 1/2016, of January 29, of the Bank of Spain, modifying Circular 1/2015, of March 24, to payment service providers, regarding information on discount and interchange rates received. (BOE of February 6)

Circular 1/2015, of March 24, of the Bank of Spain, to payment service providers, regarding information on discount and interchange rates received (hereinafter, the circular), regulates the content and other aspects related to the information that entities acting as payment service providers must provide to the Bank of Spain regarding the discount and interchange rates received by payment services in card transactions.

This circular modifies and complements Circular 1/2015, introducing improvements in the information requested on the interchange and discount rates received by entities to facilitate their analysis and comparability.

Consequently, in exercise of the powers conferred upon it, the Governing Council of the Bank of Spain, on the proposal of the Executive Committee and in accordance with the Council of State, has approved this circular, which contains the following provisions:

Sole Provision.

The following modification is introduced in Circular 1/2015, of March 24, of the Bank of Spain, to payment service providers, regarding information on discount and interchange rates received [1]:

− The TID statements included in the annex of Circular 1/2015 of the Bank of Spain are replaced by those included in the annex of this circular.

[1]

Texts incorporated into Circular 1/2015, of March 24.

Transitory Provision.

1. The first statements to be declared to the Bank of Spain with the new TID statements collected in the annex of this circular will be those corresponding to the last natural quarter of 2015.

2. The Bank of Spain will publish individually and aggregated, on its website, the information received prior to the entry into force of this circular that had not been subject to publication, in the new format of the TID statements collected in the annex of this circular.

3. The information that payment service providers had sent to the Bank of Spain prior to the entry into force of this circular that had not been subject to publication on their respective websites will be published in the new format of the TID statements collected in the annex of this circular.

Final Provision. Entry into force.

This circular will enter into force the day following its publication in the "Official State Bulletin".

Annex

ANNEX-C-1-2016.PDF (164 KB)

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