Regulatory Alerts2017-07-08
Circular 1/2017 of the Bank of Spain Modifying Circular 1/2013 on the Risk Information Central (AnaCredit)
The Bank of Spain issued Circular 1/2017 to modify Circular 1/2013, integrating the granular credit data reporting requirements of ECB Regulation (EU) No 867/2016 (AnaCredit) into the national Risk Information Central (CIR). This amendment mandates credit institutions and foreign branches in Spain to report detailed loan data, including specific definitions for observed agents, direct and indirect risk holders, and new operational attributes, to facilitate transmission to the European Central Bank. By consolidating these requirements into a single declaration framework, the regulation aims to ensure regulatory efficiency and reduce administrative burdens while maintaining comprehensive data quality for the Eurosystem's centralized credit database.