Circular 1/2019 of the Bank of Spain modifying Circular 8/2015 on information for calculating Deposit Guarantee Fund contributions

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Circular 1/2019, of January 30, of the Bank of Spain, amending Circular 8/2015, of December 18, to entities and branches attached to the Deposit Guarantee Fund of Credit Institutions, regarding information to determine the bases for calculating contributions to the Deposit Guarantee Fund of Credit Institutions. (BOE of February 8, 2019)

The Bank of Spain must subject the Deposit Guarantee Fund of Credit Institutions (hereinafter, "FGD") to stress tests, in accordance with paragraph 10 of Article 4 of Directive 2014/49/EU of April 16, on deposit guarantee schemes, and Article 12 of Royal Decree-Law 16/2011 of October 14, creating the FGD.

During the first cycle of tests carried out in 2017, the Bank of Spain included a test of the files with information by depositor (hereinafter, "SCV", from its English acronym) for a sample of entities adhering to the FGD. The content of the SCV is developed in Annex 2 of Circular 8/2015 of December 18, of the Bank of Spain, to entities and branches attached to the Deposit Guarantee Fund of Credit Institutions, regarding information to determine the bases for calculating contributions to the Deposit Guarantee Fund of Credit Institutions (hereinafter, "Circular 8/2015").

As a result of that test, the need was observed to modify Annex 2 of Circular 8/2015, in order to add new fields with the depositor's contact information, clarify the definition of some fields whose content was not sufficiently explained, and allow the use of some special characters, as they are necessary to correctly handle certain depositor contact data. This aims to guarantee greater quality of SCV data and to allow depositors to be more easily identified when facing a reimbursement situation to them by the FGD.

The perceived need for improvement in the collection of individual information for each depositor by entities adhering to the FGD therefore requires carrying out a modification of Annex 2 of Circular 8/2015. This modification is carried out on the basis of the enabling titles held by the Bank of Spain for the elaboration and adoption of Circular 8/2015; in particular, the first final provision of Royal Decree 2606/1996 of December 20, on deposit guarantee funds of credit institutions (hereinafter, "Royal Decree 2606/1996"), and the Ministerial Order of March 31, 1989, which empowers the Bank of Spain to establish and modify the accounting rules of credit institutions.

For all the above, this circular complies with the principles of necessity, efficacy, proportionality, legal certainty, transparency, and efficiency referred to in Article 129 of Law 39/2015 of October 1, on the Common Administrative Procedure of Public Administrations. The pursued end is thus achieved, namely: to improve the information of depositors available to entities and branches attached to the FGD. This purpose is achieved, furthermore, with the minimum indispensable regulation and without imposing unnecessary or accessory administrative burdens, by replacing Annex 2 of Circular 8/2015 with another with a new, more precise, and clear wording.

Consequently, in exercise of the powers conferred upon it, the Governing Council of the Bank of Spain, upon proposal of the Executive Commission and in agreement with the Council of State, has approved this circular, which contains the following rules:

Sole Rule.

Modification of Circular 8/2015, of December 18, of the Bank of Spain, to entities and branches attached to the Deposit Guarantee Fund of Credit Institutions, regarding information to determine the bases for calculating contributions to the Deposit Guarantee Fund of Credit Institutions.

Annex 2 of Circular 8/2015 is replaced by the following text [1]:

"ANNEX 2

Detailed register of deposits received

The file will have the following general characteristics:

• Text file with printable ASCII characters (from ASCII 32 to ASCII 126, both inclusive). Extended ASCII characters are not allowed, except in fields where expressly indicated.

• Admitted characters: lowercase and uppercase letters, numbers, signs '+' and '-'. Special characters may be used when expressly indicated in each of the fields.

• For each account or deposit, including funds arising from transitional situations from traffic operations (hereinafter, "deposits"), a register will be included for each owner and deposit, with the following exceptions:

○ In the case of multi-currency deposits, one register will be reported per owner, deposit, and currency.

○ In the case of deposits that have mandates with different maturity dates, one register will be reported per owner, deposit, and mandate maturity date.

Consequently, there must be a unique register for "Type of identification document" (field 1), "Identification document number" (field 2), "Maturity date" (field 14), and "Code of the deposit registered in Spain or in a branch of another EU country" (field 15). These fields constitute the unique key of the register.

• The register will include deposits and funds of non-financial companies, households, and Local Administrations with an annual budget equal to or less than 500,000 euros, regardless of whether the deposits and funds are admissible for coverage by the FGD.

• Content of the "Amount" field: In deposits with multiple owners, its amount will be divided among the owners, according to what is provided in the deposit contract, and, failing that, in equal parts, as established in Article 7 of Royal Decree 2606/1996.

• Fields with "Numeric" format will be completed with zeros ('0') to the left. Fields with "Alphanumeric" format will be completed with spaces to the right, except for fields where otherwise indicated.

Description.

Field 1. Type of identification document.

• Format: Alphanumeric.

• Length: 3.

• Content: "DNI", "NIF", "NIE", "PAS" (passport) or "OTR" (others) of the deposit owner.

Field 2. Identification document number.

• Format: Alphanumeric.

• Length: 30.

• Content: Numeric or alphanumeric code of the identification document indicated in field 1.

Field 3. Owner's name.

• Format: Alphanumeric.

• Length: 55.

• Content: Name of the deposit owner. Extended ASCII special characters may be used in this field.

Field 4. Address.

• Format: Alphanumeric.

• Length: 110.

• Content: Address of the deposit owner. Extended ASCII special characters may be used in this field.

Field 5. Municipality.

• Format: Alphanumeric.

• Length: 50.

• Content: Municipality of the deposit owner's address. Extended ASCII special characters may be used in this field.

Field 6. Province.

• Format: Alphanumeric.

• Length: 20.

• Content: Province of the deposit owner's address. Extended ASCII special characters may be used in this field.

Field 7. Postal district.

• Format: Alphanumeric.

• Length: 8.

• Content: Postal district of the deposit owner's address.

Field 8. Country.

• Format: Alphanumeric.

• Length: 2.

• Content: ISO 3166 alpha-2 code of the country or territory of the deposit owner's address, composed of two letters.

Field 9. Country code of the phone number.

• Format: Alphanumeric.

• Length: 6.

• Content: Country code of the depositor's contact phone number. The first position will always be '+'. This field will be filled when this data is available. Otherwise, it will be filled with 6 blank spaces.

Field 10. Phone number.

• Format: Alphanumeric.

• Length: 15.

• Content: Depositor's contact phone, excluding the country code from the previous field 9. This field will be filled whenever this data is available. Otherwise, it will be filled with 15 blank spaces.

Field 11. Owner's email.

• Format: Alphanumeric.

• Length: 55.

• Content: Depositor's contact email (e-mail). The format must comply with the Internet RFC-822 standard. This field will be filled whenever this data is available. Otherwise, it will be filled with 55 blank spaces.

Field 12. Admissible.

• Format: Alphanumeric.

• Length: 1.

• Content: Indicates whether the deposit is admissible to be guaranteed by the Deposit Guarantee Fund (always "S" or "N", yes or no, respectively).

Field 13. Pledged deposit.

• Format: Alphanumeric.

• Length: 1.

• Content: Deposit pledged or affected as guarantee for other operations (always "S" or "N", yes or no, respectively).

Field 14. Maturity date.

• Format: Numeric.

• Length: 8.

• Content: Format YYYYMMDD (only completed if the deposit has a maturity; otherwise, it will be filled with zeros).

Field 15. Code of the deposit registered in Spain or in a branch of another EU country.

• Format: Alphanumeric.

• Length: 39.

• Content: The field will be formed as follows:

– The first two positions will contain the characters "ES" for deposits registered in Spain, or the ISO 3166 alpha-2 code of the country where the branch is located for deposits in other EU countries.

– The next three positions will contain the ISO 4217 code of the deposit's currency.

– The remaining 34 positions will contain the code assigned by the entity to the deposit.

Field 16. Type of deposit.

• Format: Numeric.

• Length: 3.

• Content: Internal code that the entity assigns to the type of deposit in question. By way of example, codes could be assigned as follows: savings accounts (001), current accounts (002), etc.

Field 17. Total number of owners.

• Format: Numeric.

• Length: 4.

• Content: Total number of deposit owners. It will always be a number greater than zero.

Field 18. Owner number.

• Format: Numeric.

• Length: 4.

• Content: Order number corresponding to the total number of deposit owners.

Field 19. Amount.

• Format: Alphanumeric.

• Length: 15.

• Content:

Principal or nominal amount plus accrued interest on the date to which the deposit data refers. In the case of a deposit with more than one owner, the amount will be included in the portion corresponding to each owner.

The amount will be included with a sign and two decimals. The first position will always be '-', if the balance is negative, or '+', if it is positive. The other fourteen positions will be completed with zeros to the left and will contain the amount, which must be expressed in euro cents, with the last two digits corresponding to the decimals of the amount, without including the decimal sign ',' in any case. When the amount is zero, the first position will be '+', and the following fourteen positions will be zeros.

Deposits not denominated in euros will be converted to euros:

– In the event of a payment event, deposits will be converted to euros applying the exchange rate of the day on which any of the events cited in Article 8.1 of Royal Decree 2606/1996 occurs, or the previous business day if it were a holiday.

– In the rest of the cases, the exchange rate corresponding to the reference date of the data will be applied.

Field 20. Especially protected amount.

• Format: Alphanumeric.

• Length: 15.

• Content:

Amount that, being included in the positive balance of the account or deposit in question, corresponds to especially protected amounts, as defined in note (i) of the statement "Base for calculating contributions to the Deposit Guarantee Fund". Therefore, this amount will be positive and equal to or less than the balance of the account in question recorded in field 19, "Amount".

The amount will be included with a sign and two decimals. The first position will always be '+'. The other fourteen positions will be completed with zeros to the left and will contain the amount, which must be expressed in euro cents, with the last two digits corresponding to the decimals of the amount, without including the decimal sign (',') in any case.

This field will only be completed when there are especially protected deposits. Otherwise, the first position will be '+', and the following fourteen positions will be zeros.

Deposits not denominated in euros will be converted to euros:

– In the event of a payment event, deposits will be converted to euros applying the exchange rate of the day on which any of the events cited in Article 8.1 of Royal Decree 2606/1996 occurs, or the previous business day if it were a holiday.

– In the rest of the cases, the exchange rate corresponding to the reference date of the data will be applied.

Field 21. Amount in currency.

• Format: Alphanumeric.

• Length: 15.

• Content:

This field will only be completed in the case that the deposit is not denominated in euros.

The amount in currency will be included with a sign and two decimals. The first position will always be '-', if it is negative, or '+', if it is positive. The other fourteen positions will be completed with zeros to the left and will contain the amount, which must be expressed in currency cents, with the last two digits corresponding to the decimals of the amount, without including the decimal sign (',') in any case. When the amount is zero or there is no amount in currency, the first position will be '+', and the following fourteen positions will be zeros.

Field 22. Especially protected amount in currency.

• Format: Alphanumeric.

• Length: 15.

• Content:

Amount that, being included in the positive balance of the account or deposit in question, corresponds to especially protected amounts not denominated in euros, as defined in note (i) of the statement "Base for calculating contributions to the Deposit Guarantee Fund". Therefore, this amount will be positive and equal to or less than the balance of the account in question recorded in field 21, "Amount in currency".

The amount in currency will be included with a sign and two decimals. The first position will be '-', if it is negative, or '+', if it is positive. The other fourteen positions will be completed with zeros to the left and will contain the amount, which must be expressed in currency cents, with the last two digits corresponding to the decimals of the amount, without including the decimal sign (',') in any case.

This field will only be completed when there are especially protected currency deposits. Otherwise, the first position will be '+', and the following fourteen positions will be zeros.

Field 23. Special payment situation.

• Format: Alphanumeric.

• Length: 1.

• Content: Collects any of the situations provided for in Article 9.1.a) of Royal Decree 2606/1996, under which the payment of the deposit may be deferred, as well as the situation collected in Article 4.6, under which payment may be suspended. It will be filled with a number from 0 to 4, according to the following considerations:

– "1" if there is no certainty about legal rights to collect or if the deposit is the subject of litigation.

– "2" if the deposit is subject to sanctions that restrict disposal powers.

– "3" if no operation has occurred regarding the deposit in the last 24 months.

– "4" when the depositor, or any other person with right or interest in the deposit, has been prosecuted, or an opening for oral trial has been issued for crimes related to money laundering operations, when the summary procedure regulated in Title III of Book IV of the Criminal Procedure Law has been initiated and until the procedure concludes.

– "0" for the rest of the cases.

By way of illustration, some examples are presented below on how the file should be completed in certain cases. For these purposes, only the fields that make up the unique key (fields 1, 2, 14, and 15), as well as fields 19 and 21, are shown. This does not exempt from the obligation to fill out the rest of the fields of the register referred to in this Annex 2.

Example 1. An account with a total balance of 100,000 euros and whose amount is divided between two owners in equal parts.

In total, two registers in the file.

Example 2. A multi-currency account of the same owner with a balance of 1,000 dollars and 1,000 pounds sterling.

In total, two registers in the file.

Example 3. A deposit of the same owner with two mandates with different maturity dates. The first, of 10,000 euros, with maturity on June 12, 2019. The second, of 10,000 euros, with maturity on December 30, 2019.

In total, two registers in the file.

Example 4. A deposit of the same owner with two mandates of 10,000 euros each, and both with the same maturity date.

In total, one register in the file, because the fields that make up the unique key are identical."

[1]

Texts incorporated into Circular 8/2015, of December 18.

Sole Final Provision. Entry into force.

This circular will enter into force on August 8, 2019.

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