Regulatory Alerts2013-08-02
Circular 3/2013 of the Bank of Spain on the reporting of transactions and balances in negotiable securities
The Bank of Spain issues Circular 3/2013 to implement ECB Regulation 1011/2012 by requiring detailed, monthly, security-by-security reporting of transactions and balances in negotiable securities. The regulation mandates that credit institutions, depositaries, and investment fund managers submit this data to the Bank of Spain's Statistics Department to fulfill European statistical obligations. The circular repeals the previous Circular 2/2001 and establishes a transitional reporting period ending in December 2014, with full compliance required from January 2014.
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