Supervisory Disclosure Spain Supervisory Disclosure Spain

Introduction

Directive 2013/36/UEAbre en nueva ventana on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms establishes disclosure requirements not only for European Credit Institutions and Investment firms but also for the EU banking supervision authorities. Its title VIII “Disclosure by competent authorities” specifies the new disclosure requirements.

To facilitate the comparability of supervisory information among the various member states and as established by Article 143.3 of the Directive, the European Commission has adopted the Commission Implementing Regulation (EU) No 650/2014 that establishes harmonized format, structure, content and publication date of the information to be published by national competent authorities.

This constitutes a common framework comprising centralised information currently published on the EBA website. More specific reports are published on the websites of the various supervisory authorities.

In response, the Banco de España (BE), the supervisor of Credit Institutions, and the Comisión Nacional del Mercado de Valores (CNMV – the Spanish National Securities Market Commission), the supervisor of Investment Firms, have set up this joint website, although each supervisor will retain full responsibility for the information provided. This information is organised into four areas:

  • Rules and guidance
    The texts of laws, regulations, administrative rules and general guidance adopted in Spain in the field of prudential regulation.
  • Options and national discretions
    The manner of exercising in Spain the options and discretions available in Community legislation.
  • Supervisory review
    General criteria and methodologies used in Spain in the supervisory review and evaluation.
  • Statistical data
    Aggregate statistical data on key aspects of the implementation of the prudential framework in Spain.

Prior to the above referenced legal framework similar information was published according to the CEBS (Committee of European Banking Supervisors, the EBA forerunner) guidelinesAbre en nueva ventana. This historical information is also available.