Regulatory Alerts2012-02-01
Order ECC/149/2012 of 30 January developing Article 49.2.b of State Budget Law 39/2010 regarding State Guarantees for Credit Entities
The Spanish Ministry of Economy and Competitiveness issued Order ECC/149/2012 to implement state guarantees for bond and obligation issuances by credit entities to facilitate access to capital markets during the sovereign debt crisis. The order establishes eligibility criteria based on market share, sets a maximum guarantee volume of 100 billion euros, and defines specific issuance requirements including maturity limits and minimum nominal values. It further regulates the calculation of granting and issuance commissions, the application procedure, and the conditions under which the guarantee may be executed and reported to the Bank of Spain.
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