Regulatory Alerts2020-02-05
Circular 1/2020 of 28 January from the Bank of Spain, amending Circular 1/2013 of 24 May on the Risk Information Central
The Bank of Spain issued Circular 1/2020 to amend Circular 1/2013 on the Risk Information Central (CIR), aligning reporting obligations with Law 5/2019 on real estate credit contracts and ECB Regulation 867/2016 on granular credit data. The amendment expands the perimeter of reporting entities to include real estate lenders and credit institutions operating under the freedom to provide services, while granting real estate credit intermediaries equal access to CIR risk reports. It also introduces updated data module structures, clarifies risk allocation and accumulation thresholds for direct and indirect exposures, and establishes new procedural rules for data submission, exemptions, and guarantee reporting.
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