Regulatory Alerts2020-05-27
Royal Decree 877/2015 on the Reserve Fund for Banking Foundations and Amendments to Audit and Investment Institution Regulations
The Spanish Ministry of Economy and Competitiveness issued Royal Decree 877/2015 to mandate banking foundations holding majority stakes or control in credit institutions to establish a reserve fund for solvency support. The decree specifies that the fund's value is calculated based on risk-weighted assets using a tiered percentage table and allows for constitution via a holding entity under strict liquidity and independence conditions. Additionally, the regulation modifies audit rules to define public interest entities and adjusts liquidity coefficients for collective investment institutions to align with EU directives.
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