Regulatory Alerts2018-01-03
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Circular 5/2017, of December 22, amending Circular 5/2012 on banking transparency and lending responsibility
The Bank of Spain issued Circular 5/2017 to formally update Annex 8 of Circular 5/2012, correcting obsolete references to the Euribor administrator and incorporating its new status as a critical reference index. The amendment replaces the former name 'European Banking Federation' with the current administrator 'European Money Markets Institute (EMMI)' and aligns the regulatory text with EU Regulation 2016/1368. These changes ensure that the definitions and calculation methods for the one-year interbank reference rate (Euribor) and the one-year interbank rate (Mibor) accurately reflect current legal and operational realities.
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