Regulatory Alerts2013-11-30
Royal Decree-Law 14/2013 on Urgent Measures to Adapt Spanish Law to EU Financial Supervision and Solvency Regulations
The Spanish State issued Royal Decree-Law 14/2013 to urgently adapt national legislation to EU Regulations 575/2013 and 2013/36/EU regarding prudential requirements and supervision of credit institutions. The decree incorporates Basel III standards, limits variable remuneration, establishes Legal Entity Identifiers, and modifies the legal framework for the FROB resolution fund and municipal financial assistance. It also clarifies the creditor status of Sareb in insolvency proceedings and adjusts budgetary rules for Autonomous Communities to ensure immediate regulatory compliance.
Share