Regulatory Alerts2023-03-02
Circular 1/2023 of the Bank of Spain on information regarding covered bonds and other loan mobilization instruments
The Bank of Spain issued Circular 1/2023 to establish reporting obligations for credit institutions and financial credit establishments regarding covered bonds, mortgage participations, and other loan mobilization instruments. The regulation mandates the submission of specific reserved statistical forms detailing asset eligibility, coverage pool liquidity cushions, and the organization of special registers. Additionally, it amends Circulars 4/2017 and 4/2019 to repeal previous public information requirements related to these instruments and sets the entry into force date for March 31, 2023.
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