Regulatory Alerts2014-12-19
Circular 6/2014 of the Bank of Spain approving rules for the assessment and payment of the fee for the global assessment of credit institutions
The Bank of Spain issued Circular 6/2014 to establish the procedures for assessing and collecting the fee levied on credit institutions subject to the European Central Bank's global assessment. The regulation designates specific credit institutions, including those where business was transferred from savings banks, as taxpayers liable for this one-time fee incurred on December 31, 2014. It mandates that the Bank of Spain calculate the fee based on total assets as of December 31, 2013, and pay it via TARGET2-Banco de España transfer within strict voluntary payment deadlines.
Share