I

Royal Decree-Law 1/2017 of 20 January, of urgent consumer protection measures in the field of land clauses, has established an extra-judicial system to provide consumers and credit institutions with the right to provide a loan or credit agreement with a mortgage guarantee, to reach agreements and to settle the disputes which may arise as a result of the last judicial pronouncements in the field of land clauses, and in particular, the judgment of the Court of Justice of the European Union of 21 December 2016 in cases accumulated C-1 5 4/15, C307/15 and C-308/15.

The purpose of Royal Decree-Law 1/2017 of 20 January is to facilitate the return of the amounts unduly paid by the consumer to credit institutions in application of certain ground clauses contained in loan or credit agreements secured with real estate mortgage.

By this royal decree, a Commission is created to follow up, control and evaluate the performance of the Royal Decree-Law 1/2017, of January 20. In the exercise of regulatory authority, in accordance with the principles of need, the monitoring, control and evaluation of the claims made in the scope of the Royal Decree-Law, is only possible after the development The regulatory framework for the implementation of the regulatory framework for the protection of the environment and the protection of the environment is a matter for the European Parliament, the Council and the Commission. of credit institutions the minimum necessary information; legal certainty ensuring the objective application of the law; transparency-through the publication of a semi-annual report-and efficiency.

II

The royal decree consists of five articles, three additional provisions, and four final provisions.

Articles 1, 2 and 3 create and regulate the Monitoring, Control and Evaluation Commission which will ensure compliance with Royal Decree-Law 1/2017 of 20 January, for which it may propose action measures and assess the information provided by the credit institutions and by the Banco de España.

In order to enable the Monitoring, Monitoring and Evaluation Commission to carry out its tasks, Article 4 sets out certain information obligations to be met by credit institutions. Among others, the information necessary to verify that the previous communication foreseen in the Royal Decree-Law 1/2017, of January 20, has been carried out, with special character to vulnerable persons, for which the concept of person is defined vulnerable by reference to Royal Decree-Law 6/2012 of 9 March 2012 on urgent measures for the protection of mortgage debtors without resources.

This information will be supplemented by the provisions of the first provision which provides that the monitoring, control and evaluation commission regulated in this royal decree may request the Ministry of Justice to information that is available through the LexNet application in the territorial area in which such a system is implemented in respect of court proceedings involving individual actions on general conditions of the procurement contracts included in financing contracts with real real estate guarantees whose borrower is a natural person. The second provision expressly provides for the absence of an increase in expenditure as a result of the implementation of the Commission's work which is set up and regulated in this rule. For its part, the third additional provision provides for the possibility of updating the financial plan by the banking foundations and their time limit taking into account the amendment made by Royal Decree 877/2015 of 2 October 2015. in the second provision second.

The royal decree incorporates four final provisions. The first relates to the enabling constitutional titles of the standard; the second includes an extension of the time limit for which the banking foundations are provided for the formation of the reserve fund required by Law 26/2013 of 27 December. of savings banks and bank foundations; the third provides for the application of the common rules governing bodies in the operation of the Commission; the fourth provides that the entry into force will take place on the next day of its publication in the "Official State Gazette".

Point (a) of the Royal Decree-Law 1/2017 final provision, of 20 January, enables the Government to lay down the provisions necessary for its development, placing particular emphasis on the possibility of creating an organ. monitoring, monitoring and evaluation, which is regulated by this royal decree.

As far as the second final provision is concerned, the final provision twelfth Law 26/2013 of 27 December enables the Government to adopt the measures and provisions necessary for the development and implementation of the This Law.

The second final provision has also been adopted on the basis of the principles of need, effectiveness, proportionality, legal certainty and efficiency. The rule addresses the principles of necessity and proportionality since the reserve fund's endowment is made more flexible to the extent necessary to reconcile the objective of improving the governance of foundations owned by foundations. banks with the adjustment of the institutions to the current situation of the financial markets. The principle of effectiveness is addressed because, since it is a requirement imposed by royal decree, it is necessary to use this instrument to modify it. The principle of legal certainty is observed by establishing a clear mechanism whereby banking foundations with control units in credit institutions can update their financial plan. The principle of transparency is addressed as the rule has been subject to a public hearing. Finally, the principle of efficiency is respected to the extent that no additional administrative burdens are generated beyond the banking foundations to update their financial plan.

This royal decree is dictated by the habilitation contained in Royal Decree-law 1/2017's final provision of January 20, of urgent measures of consumer protection in the field of ground clauses, as well as of the twelfth final provision of Law 26/2013, of 27 December, of savings banks and bank foundations, with respect to the additional third provision and the second final provision.

In its virtue, on the proposal of the Minister of Economy, Industry and Competitiveness, and the Minister of Justice, with the prior approval of the Minister of Finance and Civil Service, according to the State Council and after deliberation of the Council of Ministers at its meeting on 26 May 2017,

DISPONGO:

Article 1. Establishment, purpose and nature of the Monitoring, Monitoring and Evaluation Commission.

1. The Commission monitoring, monitoring and evaluating the Royal Decree-Law 1/2017 of 20 January 2017 on urgent measures for the protection of consumers in the field of soil clauses is hereby established. This Commission is attached to the Ministry of Economy, Industry and Competitiveness.

2. The Commission aims to monitor, monitor and assess compliance with the Royal Decree-Law 1/2017 of 20 January 2017 on urgent measures for the protection of consumers in the field of soil clauses.

3. The Commission has the nature of a collegiate body of a representative nature provided for in Articles 15.2, 21.1 (a) and 21.3 of Law 40/2015 of 1 October 2015 on the Legal System of the Public Sector.

Article 2. Composition.

1. The Commission shall be composed of the following members:

(a) The Deputy Governor of the Bank of Spain, who will preside over the Commission.

b) The Technical Secretary General of the Ministry of Economy, Industry and Competitiveness.

c) A representative of the Ministry of Justice, with the rank of Director General.

d) A representative of the Ministry of Health, Social Services and Equality, with the rank of Director General.

e) A representative of the Consumers and Users Council.

f) A representative of the General Council of Spanish Lawyers.

g) A representative of the General Council of the Judiciary.

h) A representative of the Spanish Mortgage Association.

2. Representatives of organisations representing social interests may replace their members with other members, with at least three days ' notice before the Secretary of the Commission.

3. The Commission shall support its operation in a Secretary, and failing that, in an alternate Secretary. Both the Secretary, and the alternate Secretary are appointed by the Deputy Governor of the Bank of Spain, represent the Banco de España and attend the meetings with a voice but without a vote.

4. The Commission may request assistance to its meetings and the advice of technicians belonging to the bodies of which its members are a member, specialised in the field and whose participation may facilitate the best development of its members. functions.

Article 3. Operation.

1. The Commission shall determine its operating rules and may establish its own system of calls. In any event, the Commission shall meet each time it is convened by its President, on its own initiative, at the request of two of its members.

2. The Commission shall be validly constituted for the purpose of holding meetings and taking decisions where at least three members of the Commission and the President are present, or who replaces it. Its agreements shall be adopted by a majority of its members. The President of the Commission shall have the right to vote for the adoption of agreements.

3. The President is responsible for chairing the Commission, representing it, setting the agenda, moderating its deliberations, ensuring compliance with the laws and monitoring the minutes and certifications of the agreements.

4. In cases of vacancy, absence, illness or when another legally provided cause is present, the President shall be replaced by the Technical Secretary General of the Ministry of Economy, Industry and Competitiveness or, failing that, by the person who appoint the holder of the Presidency between the representatives of the General Administration of the State.

5. With regard to the meetings of the Commission, the Registrar shall be responsible for preparing matters and documentation, drawing up the minutes, ensuring formal and substantive legality and certifying the actions of the Commission, ensuring that the procedures and rules for the establishment of the body are respected, as well as any other work entrusted to it by the body.

6. The Commission may set up, convene, hold its meetings, adopt agreements and report acts both in person and at a distance, as provided for in Article 17.1 of Law 40/2015 of 1 October of the Legal System of the Sector Public.

Article 4. Functions.

The Commission will collect and evaluate the information transferred to it by the Banco de España or the credit institutions and publish a semi-annual report assessing the degree of compliance of the Royal Decree-Law 1/2017 of 20 January. This report should be submitted by the President of the Commission to the Committee on Economic, Industry and Competitiveness of the Congress of Deputies.

Article 5. Reporting obligations.

1. Credit institutions shall forward to the Commission, through the Bank of Spain, on a monthly basis, the information required by them. This information shall, in any case, include and be individualized for each credit institution:

(a) The number of applications submitted, those terminated by agreement and those that have not been possible to reach such an agreement, as well as the reasons,

(b) The amount corresponding to the applications submitted, those that have been terminated by agreement and those that have not been possible to reach such an agreement, duly broken down,

(c) The number and amount of compensatory measures other than the return of the cash which they have offered to consumers, and, where appropriate, agreed with them, corresponding to the applications submitted, which have ended with agreement and those that have not been possible to reach such an agreement, duly broken down.

In addition, each credit institution will report on the system it has implemented to ensure prior communication to consumers that its mortgage loan includes land clauses, especially for individuals. vulnerable.

2. For the purposes of the above paragraph, vulnerable persons shall be understood to be located on the exclusion threshold defined in Article 3.1 of Royal Decree-Law 6/2012 of 9 March 2012 on urgent protective measures mortgage debtors without resources.

3. The Commission may also request directly from the institutions any other information it considers appropriate in relation to the ground clauses, for the purposes of carrying out the tasks entrusted to it in accordance with the provisions of the Treaty. established in the final disposition of the Royal Decree-Law 1/2017 and in this royal decree.

Additional disposition first. Statistics on judicial proceedings.

The monitoring, control and evaluation commission regulated in this royal decree will be able to request from the Ministry of Justice information that is available through the LexNet application in the territorial area in which it is (a) the system of legal proceedings in which individual shares are exercised on general terms and conditions of the contract, including in financing contracts with real estate guarantees, the borrower of which is a physical person.

Additional provision second. No increase in public spending.

The implementation of this royal decree will not increase spending. The measures included in this royal decree will be met with the ordinary budget allocations and will not be able to generate increases in appropriations or salaries or other personnel costs.

Additional provision third. Updating the financial plan of the banking foundations.

The banking foundations referred to in Article 44.3 of Law 26/2013 of 27 December, of savings banks and bank foundations may update their financial plan within three months of the entry into force of this Regulation. of this royal decree.

Final disposition first. Competence title.

This royal decree is dictated by the provisions of Articles 149.1.6., 11. ª, 13. and 14. of the Constitution which attribute to the State the powers of commercial law, procedural, basis of the ordination of credit, banking and insurance, bases and coordination of general economic activity planning, and general government and government debt, respectively.

Final disposition second. Amendment of Royal Decree 877/2015 of 2 October of the development of Law 26/2013 of 27 December, of savings banks and bank foundations, which regulates the reserve fund to be set up by certain banking foundations; Royal Decree 1517/2011 of 31 October, approving the regulation that develops the recast text of the Law of Audit of Accounts, approved by the Royal Legislative Decree 1/2011, of July 1; and the Royal Decree is amended 1082/2012, of 13 July, for which the Regulation of the Development of Law 35/2003, of 4 of Collective Investment Institutions.

Article 6 of Royal Decree 877/2015, of October 2, of the development of Law 26/2013, of December 27, is worded as follows:

" Article 6. Deadline for setting up the reserve fund.

1. The target volume of the reserve fund shall be reached within the maximum period of 8 years from the entry into force of the Banco de España circular which develops this royal decree or from the date on which the banking foundation acquires control or a a share of more than 50% in the investee credit institution, if any of these events were to take place thereafter.

2. If, as a result of the development of the economic-financial situation of the investee credit institution or the development of market conditions, the objective volume of the reserve fund cannot be reached in the the maximum period of eight years referred to in the previous paragraph, the banking foundation may request the Bank of Spain to extend that period up to one more year.

3. The allocation schedule for the reserve fund should be detailed in the financial plan which the banking foundation has to present to the Banco de España. The periodic allocations provided for in the said timetable must be linear over time, without prejudice to any changes to the timetable justified by the variation of the own resources requirements laid down in the financial plan or other relevant circumstances.

4. Until the reserve fund reaches the minimum target amount resulting from the application of the criteria laid down in Article 4, the banking foundations shall allocate at least 30% of the amounts received from the reserve fund to the reserve fund. the credit institutions involved as a cash dividend distribution. '

Final disposition third. Extra regime.

In everything not specifically foreseen in this royal decree or in the own rules of operation approved by the monitoring, control and evaluation commission of the Royal Decree-Law 1/2017, the relative rules will apply to the collegiate bodies provided for in the preliminary title, Chapter II, Section 3 of Law 40/2015 of 1 October, of the Public Sector Legal Regime.

Final disposition fourth. Entry into force.

This royal decree will enter into force on the day following its publication in the "Official State Gazette".

Given in Madrid, on May 26, 2017.

FELIPE R.

The Vice President of the Government and Minister of the Presidency and for Territorial Administrations,

SORAYA SAENZ DE SANTAMARIA ANTON