Regulatory AlertsCircular 4/2019 of the Bank of Spain on Public and Reserved Financial Information Standards and Financial Statement Models
The Bank of Spain issued Circular 4/2019 to establish the specific accounting regime for credit institutions, replacing their previous transitional framework with standards aligned with the Commercial Code and EU-adopted IFRS. The regulation mandates that these institutions apply recognition, valuation, and presentation criteria identical to those required for credit entities under Circular 4/2017, while maintaining simplified reporting requirements for models, frequency, and submission deadlines. It further defines the scope for individual and consolidated financial statements, including specific transitional provisions for the first application of these rules starting in 2020.
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