Regulatory Alerts2022-03-18
Circular 2/2022 of the Bank of Spain on rules for the submission of payment statistics by payment service providers and payment system operators
The Bank of Spain issued Circular 2/2022 to establish the procedures, periodicity, and formats for payment service providers and payment system operators to submit payment statistics and fraud data. This regulation updates previous requirements to align with amended EU Regulation 1409/2013 and Spanish Royal Decree-Law 19/2018, replacing the earlier Circular 2/2015. It mandates quarterly, semi-annual, and annual electronic submissions to the Bank of Spain, while defining specific exemption and inactivity notification protocols for certain entities.
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