Regulatory Alerts2021-02-02
Circular 2/2021 of the Bank of Spain, of January 28, amending Circular 8/2015 regarding information for determining the calculation bases for contributions to the Deposit Guarantee Fund of Credit Institutions
The Bank of Spain issued Circular 2/2021 to amend Circular 8/2015, requiring credit institutions and branches affiliated with the Deposit Guarantee Fund (FGD) to provide updated information for calculating their contribution bases. The amendment introduces specific reporting obligations for balances held by investment service companies in instrumental and transitional cash accounts opened on behalf of their clients, ensuring alignment with Royal Decree 217/2008. Additionally, the circular establishes new data collection requirements and field specifications to facilitate the FGD's cross-border cooperation obligations and ensure the accurate individualization of client deposits.
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