Regulatory Alerts2023-03-25
Circular 2/2023 of the Bank of Spain modifying Circular 1/2013 on the Risk Information Central
The Bank of Spain issued Circular 2/2023 to amend the Risk Information Central (CIR) regulations, primarily delaying the reduction of the individual reporting exemption threshold to 1,000 euros until 2027. The circular mandates that from January 2, 2023, reporting entities must individually report all operations for holders with an accumulated risk equal to or exceeding 3,000 euros. Additionally, it incorporates updates to align with AnaCredit requirements, integrates new data fields for household loans, and adjusts reporting exemptions for specific institutional sectors.
Share