Regulatory Alerts2010-01-27
Circular 1/2010 of the Bank of Spain on Interest Rate Statistics for Deposits and Loans to Households and Non-Financial Corporations
The Bank of Spain issued Circular 1/2010 to update interest rate statistics for deposits and loans to households and non-financial corporations, aligning with ECB Regulation 290/2009. The regulation mandates reporting entities to submit weighted average Restricted Effective Definition Rates (TEDR) for both existing balances and new operations, while introducing stricter definitions for renegotiated loans and secured credit. It establishes specific reporting thresholds, submission deadlines, and detailed calculation rules for various financial instruments to ensure data representativeness and consistency.
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