Order ECC/747/2013 of 25 April modifying Order ECO/697/2004 on the Risk Information Central

OFFICIAL STATE GAZETTE No. 108 Monday, 6 May 2013 Sec. I. Page 33946 I. GENERAL PROVISIONS MINISTRY OF ECONOMY AND COMPETITIVENESS 4718 Order ECC/747/2013, of 25 April, modifying Order ECO/697/2004, of 11 March, on the Risk Information Central.

Order ECO/697/2004, of 11 March, on the Risk Information Central (hereinafter, CIR), was issued in development of Law 44/2002, of 22 November, on measures to reform the financial system. The legal framework of the CIR is completed by Circular 3/1995, of 25 September, on the Risk Information Central of the Bank of Spain. The object of the modification carried out by this order, which has been favorably informed by the Data Protection Agency, is the introduction of certain variations that improve the quality and quantity of the data included in the registry. These changes affect two aspects.

First, the need for the amounts of operations to be declared in euro units, so Article 3.1 of Order ECO/697/2004, of 11 March, is modified to replace the term "thousands" with "units" of euro.

The second aspect of the reform is to allow the establishment of different declaration thresholds depending on the sector of activity of the reporting entity or the holder of the information. Therefore, it is convenient to undertake the reform of the aforementioned order at this point, adjusting the content of Articles 3.1 and 3.4.

Finally, the expression "3 months" in Article 4.1 is replaced by "90 days", which is the term used in European Union legislation to refer to this period.

The final provision establishes that the order will enter into force the day following its publication in the Official State Gazette.

In virtue thereof, in accordance with the Council of State, I order:

Sole Article. Modification of Order ECO/697/2004, of 11 March, on the Risk Information Central.

Order ECO/697/2004, of 11 March, on the Risk Information Central, is modified as follows:

One. Paragraph 1 of Article 3 is drafted in the following terms:

"1. The Bank of Spain, subject to what is provided in Chapter VI of Law 44/2002, particularly in Article 60, and in this Order, shall determine the types of risks to be declared, as well as the scope of the data to be declared regarding the holders and the characteristics and circumstances of the different types of risks, being able to request the declaration of the data it considers necessary for the fulfillment of the purposes served by the CIR, especially that related to the adequate exercise of supervisory and inspection powers over the reporting entities by the competent authorities.

In particular, and in accordance with what is provided in paragraph four of Article 60 of Law 44/2002, the Bank of Spain may determine, with respect to those types of risks subject to declaration, the situations in which the data referred to in the second paragraph of the previous article may be declared with less detail or not be subject to declaration.

The Bank of Spain shall fix the scope of the data to be declared to the CIR, distinguishing the data to be declared exclusively in compliance with the information obligations established by the Bank of Spain in the exercise of its supervisory and inspection functions and other functions legally attributed to it, including data based on forecasts specific to the entities, from those other data that are also declared with the purpose of making them available to the reporting entities for the exercise of their activity."

cve: BOE-A-2013-4718

OFFICIAL STATE GAZETTE No. 108 Monday, 6 May 2013 Sec. I. Page 33947

Two. Paragraph 4 of Article 3 is drafted in the following terms:

"4. The Bank of Spain shall fix the applicable declaration thresholds, specifying those below which all data of a holder shall be declared exclusively in compliance with the information obligations established by the Bank of Spain in the exercise of its supervisory and inspection functions and other functions legally attributed to it. The amount of the risks shall be declared in euro units. For these purposes, the Bank of Spain may determine different declaration thresholds and types of data to be declared regarding the holders and types of risk depending on the characteristics of the sector of activity to which the reporting entities or the holders with whom they maintain credit risks belong."

Three. Paragraph 1 of Article 4 is drafted in the following terms:

"1. The Bank of Spain shall determine the content, format, and periodicity of the reports that reporting entities are entitled to obtain, provided for in the second paragraph of Article 61 of the Law.

In said reports, the name of the entities that have incurred the aforementioned risks shall be omitted. With respect to these, only situations of non-compliance with direct or guaranteed obligations shall be included, distinguishing those that have been written off from the balance sheet by the entities and remain enforceable, situations related to insolvency proceedings, as well as overdue risks, understood for these purposes as those whose date of non-payment exceeds 90 days from their maturity. The reports shall not provide data referring to the holder's membership in a specific economic group, interest rate, start dates, maturity dates, and default dates, nor the prudential risk categories or other data considered necessary exclusively for the adequate exercise of supervisory and inspection powers over the reporting entities by the competent authorities."

Sole Final Provision. Entry into force.

This order shall enter into force the day following its publication in the "Official State Gazette".

Madrid, 25 April 2013.–The Minister of Economy and Competitiveness, Luis de Guindos Jurado.

cve: BOE-A-2013-4718 http://www.boe.es OFFICIAL STATE GAZETTE D. L.: M-1/1958 - ISSN: 0212-033X