Regulatory Alerts2014-01-31
Circular 2/2014 of the Bank of Spain on the exercise of regulatory options in Regulation (EU) No 575/2013
The Bank of Spain issues Circular 2/2014 to define the specific regulatory options under Regulation (EU) No 575/2013 that Spanish credit institutions must immediately apply to ensure continuity with previous national standards. The circular establishes permanent and transitional measures, including the treatment of financial sector participations, liquidity outflows, and the phased deduction of deferred tax assets and intangible assets. It further specifies operational requirements for liquidity coverage, large exposures, and the classification of Level 2B assets to align Spanish entities with the Basel III framework.
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