Regulatory Alerts2006-02-24
Circular 1/2006 of the Bank of Spain, of February 24, modifying Circular 4/2001 regarding deposit guarantee fund contributions and guaranteed amounts
The Bank of Spain issued Circular 1/2006 to update the valuation criteria and reporting templates for entities affiliated with deposit guarantee funds, aligning them with the new financial reporting standards established by Circular 4/2004. This modification ensures that the calculation base for annual contributions and the scope of guaranteed amounts remain consistent despite changes in accounting norms. Entities are required to use the new reporting model for the declaration corresponding to December 31, 2005, and submit it to the Bank of Spain within forty-eight hours of the circular's entry into force.
Share