Regulatory Alerts2020-06-16
Circular 2/2020 of the Bank of Spain, of June 11, amending Circular 4/2017 on public and reserved financial information standards and financial statement models for credit institutions
The Bank of Spain issued Circular 2/2020 to amend Circular 4/2017, aligning Spanish credit institutions' financial reporting requirements with updated international standards and EU regulations. The amendment simplifies the definition of a 'business' for acquisitions, updates reporting formats for supervisory purposes, and introduces new requirements to address data gaps in real estate financing and employee statistics. It also modifies transparency rules for publishing financial statements and adjusts sector classifications for international bodies and the United Kingdom post-Brexit.
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