Key Benefits:
The current system of delegation of powers of the Executive Commission of the Bank of Spain, approved by agreement of that body adopted at its meeting of 18 December 2009, has been subsequently modified up to ten years The Bank of Spain has made public statements by means of its publication in the "Official Gazette of the State". The existence of successive amendments raises the difficulties inherent in the regulatory dispersion.
In recent months there have been major organizational and operational changes that have affected the Banco de España. On the one hand, the Single Supervisory Mechanism was launched on 4 November 2014, which has led to a profound change in procedures and the distribution of responsibilities for banking supervision in countries. of the euro area. This implies the need for the Banco de España to carry out new activities and to develop new functions within the established regulatory framework. In addition, significant changes have been made to the internal structure of the Banco de España. The last and most profound one, agreed by the Executive Committee of the Banco de España at its meeting on 29 April 2015, which has been a major change in the institution's establishment plan.
Therefore, in order to update the existing regime, speed up the procedures linked to the Single Supervisory Mechanism and adapt the system of delegation of powers to the new internal structure of the Banco de España, the Executive Commission, at its meeting of 22 May 2015, in accordance with the provisions of Article 68 in relation to the 60, both of the Rules of Procedure of the Banco de España, adopted by the Governing Council Resolution of 28 March 2000, has agreed on the following arrangements for the delegation of powers, whether delegated or delegated by the Governing Council, to provision of sub-delegation, framed in the exercise of administrative powers, leaving without effect the decision of the Executive Board of the Bank of Spain of 18 December 2009 and its subsequent amendments:
First. Delegations which are in favour of all the management bodies, in the field of their respective functions.
Each of the Directors-General, the Secretary-General and the Deputy Directors-General are delegated to each of the Directors-General for their exercise in the field of action of these bodies, the power to issue the reports required by the administrative and external relations of the institution in the exercise of its own legal powers, in accordance with the possible guidelines issued by the Governing Council and the Executive Committee. The provisions of this Article shall be subject to the provisions of the Treaty on the European Union and the Member States of the European Union and of the Member States of the European Union. Two credit institutions subject to the supervision of the Banco de España do not belong to the same group, as well as the reports to be issued in the cases of authorisation of institutions subject to the supervision of the Bank of Spain. Spain.
Second. Delegations to be held in the field of the Directorate-General for Financial Stability and Resolution.
1. The following powers are delegated to the Director-General for Financial Stability and Resolution:
(a) Formulate requirements and recommendations to entities subject to the supervision of the Banco de España in respect of the reporting of financial information and to the reporting entities to the Risk Information Central statements to this service.
b) Solve external consultations on the interpretation and application of resolution rules.
2. The following powers are delegated to the Director of the Financial Information Department and CIR:
(a) In the field of financial information, issue and transfer to the institutions subject to supervision of the Banco de España clarifications on how to fill in the obligations relating to that information.
b) Issue and move the reporting entities to the Risk Information Central for clarification on how to complete the declarations to this service.
Third. Delegations that are made within the scope of the General Directorate of Supervision.
1. The following powers are delegated to the Director-General of Supervision:
(a) Solve on the procedures and actions provided for in Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and the investment firms, and amending Regulation (EU) No 648/2012 (hereinafter CRR), as listed in Annex I to this Agreement.
b) Solve on the procedures and actions provided for in Law 10/2014 of 26 June, of the management, supervision and solvency of credit institutions, Royal Decree 84/2015 of 13 February, for which the and its implementing rules, as listed in Annex II to this Agreement.
c) Solve the procedures and actions provided for in Law 21/2011 of 26 July 2011 on electronic money, and Royal Decree 778/2012 of 4 May 2012 on the legal status of electronic money institutions, and rules on development, contained in Annex III.1 to this Agreement.
(d) Resolve the procedures and actions provided for in Law 16/2009 of 13 November of payment services, Royal Decree 712/2010 of 28 May 2010, of a legal regime for payment services and payment institutions, and its implementing rules, contained in Annex III.2 to this Agreement.
e) Resolve the following procedures and actions under other rules:
e.1) The power to not object to the acquisition of significant holdings in valuation companies (Article 3.b of Law 2/1981 of 25 March of regulation of the mortgage market).
e.2) In mutual guarantee companies, authorize the distribution, in any form, of the reserves of free disposition, as well as the application of the fund of technical provisions for purposes other than the coverage of the risk (Article 8 of Royal Decree 2345/1996 of 8 November 1996 concerning the rules of administrative authorisation and the solvency requirements of mutual guarantee companies).
e.3) Inform or issue credentialed certificates of certain objective situations concerning credit institutions or other supervised entities, where they are provided for in the applicable rules or are to have effects against them third parties.
e.4) Rissue written to credit institutions or other supervised entities by clarifying and indicating which treatment is applicable to certain specific transactions or situations of the institution, in view of the existing rules or, where appropriate, of the interpretations issued by the competent bodies of the Banco de España, except those relating to banking transparency and resolution.
e.5) Formulate recommendations to credit institutions and other entities subject to the supervision of the Banco de España, except those relating to bank transparency and resolution, provided that they do not result from the carrying out of (Article 23 (1) (f) of Law 13/1994 of 1 June 1994 of the Autonomy of the Banco de España). The power to make recommendations resulting from the conduct of inspection visits and the ability to formulate requirements shall correspond to the Executive Commission.
e.6) Rissue written to credit institutions and other supervised entities requesting compliance with observations or requirements previously formulated by the Executive Committee; making clarifications on certain detected irregularities appearing in the Bank of Spain's written submissions to the institution, or recalling the obligation to acknowledge receipt of the written submissions or to take account of the measures taken to comply with the requirements, except those relating to banking transparency and resolution.
In the absence of the Director-General of Supervision, all the delegations set out in this point shall be construed as being in favour of the Deputy Director-General of Supervision.
2. The following powers are delegated to the Deputy Director-General of Supervision:
(a) Authorize, as provided for in the additional provision of Royal Decree 84/2015 of 13 February 2015, that the use of the additional capital instruments of Tier 1 instruments and instruments of Level 2 capital, including those referred to in Article 73 (1) of the CRR.
(b) Authorise the exemption from compliance with the requirement set out in point (d) of Article 83 (1) of the CRR for computability as equity capital instruments of Tier 1 and Tier 2 additional capital instruments issued by specific task entities and their corresponding emission premium accounts.
(c) Approve modifications to the guides referred to in Article 54 of Law 10/2014 of 26 June of the ordination, supervision and solvency of credit institutions, Article 20 of Law 21/2011 of 26 July, of money electronic, and Article 15 of Law 16/2009, of 13 November, of payment services, provided that their preparation corresponds to the scope of action of the Directorate-General of Supervision, as they consist of technical adaptations, improvement or coordination of concepts, terminology and criteria set out in such guides, or variations in the form of to provide the Bank of Spain with the specific information provided for them.
d) Resolve external consultations on the interpretation and application of sectoral management rules, except for bank transparency and resolution, except where they meet new interpretative criteria of these particularly significant rules for the relevant sector, the competence of which shall be the responsibility of the Executive Committee.
(e) Solve consultations that institutions may raise on the application of accounting criteria not covered by Circular 4/2004 of the Bank of Spain of 22 December in the terms provided for in paragraph 4 of the Standard eighth of the indicated circular, and provided that there are criteria established by the Executive Committee.
(f) Solve requests for indirect compliance with the minimum reserve ratio, as provided for in Article 10 of Regulation (EC) No 1745/2003 of the European Central Bank of 12 September 2003 on the application of minimum reserves.
In the absence of the Deputy Director-General of Supervision, all the delegations set out in this point shall be construed as being in favour of the Director-General of Supervision.
3. The following powers are delegated to the directors of the department of the Directorate-General for Supervision, for their exercise in the field of action concerned:
(a) Resolve the procedures and actions provided for in the CRR listed in Annex IV to this Agreement, as well as acknowledge receipt, request clarifications, demonstrations or verifications, and make suggestions, those communications that credit institutions must make to the Banco de España in compliance with the requirements of the CRR.
b) Solve on the procedures and actions provided for in Law 10/2014 of 26 June, of the management, supervision and solvency of credit institutions, Royal Decree 84/2015 of 13 February, for which the and its implementing rules, contained in Annex V to this Agreement.
c) Solve the procedures and actions provided for in Law 21/2011 of 26 July 2011 on electronic money, and Royal Decree 778/2012 of 4 May 2012 on the legal status of electronic money institutions, and rules on development, contained in Annex VI.1 to this Agreement.
(d) Resolve the procedures and actions provided for in Law 16/2009 of 13 November of payment services, Royal Decree 712/2010 of 28 May 2010, of a legal regime for payment services and payment institutions, and its implementing rules, contained in Annex VI.2 to this Agreement.
e) Resolve the following procedures and actions under other rules:
e.1) Communicate to other national or foreign supervisory authorities or competent institutions the resolutions adopted by the corresponding organs of the Banco de España with respect to credit institutions or other supervised entities, as well as to formulate requests for information to those authorities and to respond to requests referred by them on aspects relating to the entities mentioned above.
e.2) Exorder the certification referred to in Article 21.6 of Royal Decree 1282/2010 of 15 October, regulating the official markets for futures, options and other derivative financial instruments, when such issue, depending on the type of entity concerned, corresponds to the Banco de España.
e.3) Request information or order inspections in relation to natural or legal persons who, without having obtained the required authorization from the Banco de España, carry out in establishments open to the public operations of foreign currency exchange or offer to the public its realization (article 178.4 of Law 13/1996, of December 30, of Fiscal, Administrative and Social Order Measures).
e.4) Issue the acknowledgement of receipt, as well as request information that is required and/or additional in the procedure for the acquisition of significant shares in valuation companies (Article 3b of Law 2/1981 of 25 March 2001). Regulation of the mortgage market.
e.5) Solve the following procedures and actions provided for in Law 5/2005, of 22 April, of supervision of financial conglomerates, Royal Decree 1332/2005, of 11 November, for which the above, and its development regulations:
-The ability to identify financial conglomerates or collaborate with other authorities in the identification of financial conglomerates, the faculty to send written to the National Commission of the Securities market, the General Directorate of Insurance and Pension Funds and the other supervisory authorities of the European Union, specifying the criterion of the Banco de España in the processes of identification of financial conglomerates, the determination of the authority to carry out the task of coordinating and delimiting the whole of the competent authorities involved, as well as the power, in relation to the exercise of the functions which correspond to him as the coordinator of the conglomerate, to communicate to the entity obliged his status as such, the scope of his obligations and other extremes arising from the exercise of the additional supervision of the conglomerate.
The decisions that the Banco de España may adopt as coordinator in respect of the non-attachment or partial subjection of a financial conglomerate to the obligations of supplementary supervision, as provided for in paragraph 2 of the Article 2 of Royal Decree 1332/2005, of 11 November, shall correspond to the Executive Committee.
-The power to define and request specific information from entities forming part of a financial conglomerate and to carry out the exchange of information with other competent authorities in accordance with the provisions of the legislation on supplementary supervision of financial conglomerates.
e.6) Issue the report prior to the granting of loans, guarantees or guarantees to the members of the board of directors of the savings banks or to persons linked to them, as well as the disposal of a cash savings bank or securities of their ownership or issued by such entities, where they are staff representatives, as provided for in Article 18.2 of Law 26/2013 of 27 December, of savings banks and bank foundations.
(f) Request information, documentation or clarifications to credit institutions and other supervised entities in the framework of supervisory work and in the processing of administrative procedures, where appropriate necessary to carry out such a formal requirement.
4. The following faculty are delegated to the Director of the Department of Regulatory and Supervisory Policy, Directorate-General for Supervision:
Authorize the computability as own resources of the Common Equity Tier 1 instruments referred to in Article 26 of the CRR, including those referred to in Article 73 (1) of the CRR.
5. The delegations referred to in numbers 1 to 4 above which relate to credit institutions shall also be understood as having been made in relation to the credit institutions in those procedures which are applicable to them in accordance with the provisions of Law 5/2015 of 27 April 2015 on the promotion of business finance.
Fourth. Delegations that are made within the scope of the General Directorate of Operations, Markets and Payment Systems.
1. The following powers are delegated to the Director General of Operations, Markets and Payment Systems:
(a) Approve evaluation reports, newspapers and possible changes, of the payment systems and instruments, prepared by the Banco de España in accordance with the corresponding standards and in the exercise of its powers of surveillance. Make, where appropriate, the recommendations resulting from the previous financial year.
(b) to issue written letters to the managing entities of a payment system, to payment service providers and to entities providing technological services for the said system, clarifying or interpreting the rules and the policies to be implemented in the framework of the monitoring of payment systems.
c) Approve the internal procedure manual for the surveillance activities of payment systems and instruments carried out by the Banco de España, and its updates.
d) Approve the reports and formulate the recommendations that are considered necessary on the systems and services that the Spanish Society of Payment Systems, SA (Iberpay) manages, in the exercise of the functions of supervision of that society.
e) Approve the reports and formulate the recommendations deemed necessary on the annual accounts, the management report, the report of the external auditors, the composition of the Board of Directors and the shareholders of the Sociedad Española de Sistemas de Pago, SA (Iberpay), in the exercise of the supervisory functions of the Company.
f) Rissue written clarification or interpretation of the rules that apply in the framework of the supervision of the Spanish Society of Payment Systems, SA (Iberpay).
g) Request and/or issue the mandatory report on the recognition of a payment system for the purposes of Law 41/1999 of 12 November on payment and securities settlement systems.
h) Make recommendations and issue broad guidelines, best practices, interpretations and clarifications to facilitate understanding of the obligations arising from the provisions of Regulation (EU) No 260/2012 European Parliament and the Council of 14 March 2012 laying down technical and business requirements for transfers and direct debits in euro, and amending Regulation (EC) No 924/2009 and its correct implementation, provided that they do not relate to new interpretative criteria.
2. The following powers are delegated, interchangeably, in the Director General of Operations, Markets and Payment Systems and the Director of the Payment Systems Department:
(a) Request information and documentation from both the managing entities of a payment system and the payment service providers, including those entities that provide technology services for the systems and (c) services referred to in order to assess the efficiency and security of payment systems and instruments.
b) Exchange information that is relevant to other public authorities responsible for the surveillance of payment and settlement systems to facilitate the exercise of the oversight function entrusted to the Bank of Spain.
c) Approve the list of payment systems that have communicated to the Banco de España its access rules for publication.
d) Deciding on the opposition to the basic rules regarding ancillary services or accessories managed by the Spanish Society of Payment Systems, SA (Iberpay).
e) Deciding on the opposition to instructions of a technical or operational nature relating to the systems and services managed by the Spanish Society of Payment Systems, SA (Iberpay), except those relating to the management of the distribution, collection and processing of means of payment.
f) Request relevant information on the systems and services managed by the Spanish Society of Payment Systems, SA (Iberpay), as well as information regarding its annual accounts and the management report, the report of the external auditors, the composition of the Board of Directors and the shareholders, in the exercise of the supervisory functions of the company.
g) Request from payment service providers generic and specific information (including the one relating to interbank agreements) that allows verification of compliance, on the other hand, of the different legal obligations, essential requirements and other technical requirements of Regulation (EU) No 260/2012 of the European Parliament and of the Council of 14 March 2012 laying down technical and business requirements for transfers and debits in euro, and amending Regulation (EC) No 924/2009.
(h) Rissue written to payment service providers requesting compliance with observations or performance requirements previously formulated by the Executive Committee.
i) To exchange information that is relevant to other public authorities, both national and international, within the scope of Regulation (EU) No 260/2012.
3. It is delegated, interchangeably, in the Director General of Operations, Markets and Payment Systems, at the Deputy Director General of Cash and Branch Management, and in the Director of the Department of Emission and Caja the following faculty:
-Decide on the opposition to instructions of a technical or operational nature regarding the management of the distribution, collection and treatment of means of payment (System of Auxiliary Deposits, SDA).
4. The following powers are delegated to the Director of the Payment Systems Department, resulting from the fulfilment of the obligations laid down in Article 16 of Law 41/1999 of 12 November on payment and settlement systems values:
(a) To issue to the European Systemic Risk Board (ESRB), to the other Member States and to the European Securities and Markets Authority (ESMA), the court's communications concerning the declaration of competition of an institution of participant credit on a system.
(b) To inform the managers of Spanish payment systems of communications similar to those referred to in point (a) above received from another Member State of the European Union or a third country.
Fifth. Delegations to be made at the level of the General Secretariat.
1. The following powers are delegated to the Secretary-General:
a) The accumulation of administrative files.
(b) Solving complaints against entities subject to the supervision of the Banco de España, provided that the facts reported are manifestly unfounded.
(c) Resolve the reports on external consultations on the interpretation and application of banking transparency rules, except where they meet new interpretative criteria for such rules, in particular significant for the relevant sector, the adoption of which will be the responsibility of the Executive Committee.
(d) Approve modifications to the guides referred to in Article 54 of Law 10/2014 of 26 June of the management, supervision and solvency of credit institutions, provided that their preparation corresponds to the scope of the the General Secretariat, as they consist of technical adaptations, improvement or coordination of concepts, terminology and criteria set out in those guides, or variations in the form of giving the Bank of Spain the specific information provided for in them.
e) Resolver on the inadmissibility of requests for access to public information submitted under Law 19/2013, of December 9, of transparency, access to public information and good governance. The Commission shall be responsible for the refusal of applications.
(f) Grant the authorization to carry out the operations referred to in Article 2.2 of Royal Decree 2660/1998 of 14 December 1998 on the exchange of foreign currency in establishments open to the public other than the credit institutions.
g) Issue the mandatory reports on statutory amendments that the legal system entrusts to the Banco de España.
(h) Grant the authorization for the modification of the social statutes of credit institutions and resolve the unnecessary nature of the authorization of those modifications that have little relevance, in the legally intended terms.
(i) to resolve requests for the opening of branches in other countries of the European Union by Spanish credit institutions and to make the corresponding notifications, as well as to issue the certification provided for in the Article 14.6 of Royal Decree 84/2015, of 13 February, for which the Law 10/2014, of 26 June, of ordination, supervision and solvency of credit institutions is developed, to be issued in this procedure (article 11.1 of Law 10/2014, of June 26, and Articles 14.1, 3 and 6 of Royal Decree 84/2015, of 13 February, for which it is developed the previous one).
2. The following powers are delegated to the Director of the Market Conduct and Claims Department:
(a) With regard to the advertising of institutions subject to the supervision of the Banco de España, to resolve the cessation or rectification of advertising campaigns that do not comply with the provisions of the regulations on advertising banking services and products; requiring entities to include in advertising warnings in relation to the product or service offered; to request from the entities the referral of the data contained in their internal advertising register; and the documentation relating to the advertising campaigns which have been the subject of dissemination; as information on the criteria which they generally apply in the preparation and dissemination of their advertising campaigns.
b) Resolve on the verification, in the legally intended terms, of the regulations of the customer services and customer advocates of the credit institutions.
(c) In the field of information on commissions and interest rates, issue and transfer to the entities subject to the supervision of the Banco de España clarifications on how to fill in the obligations relating to the aforementioned information.
d) Formulate observations and recommendations to credit institutions and other entities subject to the supervision of the Banco de España in the area of banking transparency and customer protection, as well as systems and mechanisms attention and conflict resolution with such customers.
e) Rissue written to credit institutions or other supervised entities, clarifying and indicating the treatment applicable to specific products, operations, actions or situations of the institution, in the view of the rules in force in the field of banking transparency and customer protection, as well as systems or mechanisms for dealing with and resolving disputes with such customers, or in the light of interpretations issued, where appropriate, by the bodies competent of the Banco de España.
f) Rissue written to credit institutions and other supervised entities requesting compliance with previously formulated observations, recommendations or requirements regarding banking transparency and protection of the customers, as well as systems or mechanisms for dealing with and resolving disputes with such customers; making clarifications about certain irregularities detected in the Bank of Spain's written statements previously sent to the institution; requesting clarifications, additional information or sending of necessary documentation, or recalling the obligation to acknowledge receipt of the written submissions or to account for the measures taken to comply with the requirements set out.
g) Communicate to other national or foreign supervisory authorities, or to competent institutions, the resolutions adopted by the corresponding bodies of the Banco de España with respect to credit institutions or other supervised entities, as well as to formulate requests for information to those authorities and to reply to requests referred by them on aspects related to such entities, provided that such communications and requests relate to aspects related to banking transparency and protection of customers, as well as with systems and mechanisms for attention and conflict resolution with such customers.
3. The following powers are delegated to the Deputy Secretary:
(a) Resolve the assessment files of suitability, with a positive assessment, of the members of the administrative body, the directors-general or the like and of the persons who assume internal control functions or occupy key positions for the daily development of the activity of the entities subject to the supervision of the Banco de España, and of its dominant entities, in the terms and assumptions established in the applicable regulations.
It shall be for the Executive Committee to resolve the dossiers which are concluded with a negative statement on the suitability of the assessed person, as well as those in which, in accordance with the applicable rules, consider the existence of convictions by the commission of offences or offences, penalties for the commission of administrative offences relating to the financial system, or relevant and substantiated investigations in criminal or administrative matters.
b) To favorably resolve requests for access to public information submitted under Law 19/2013, of December 9, of transparency, access to public information and good governance.
(c) Grant authorization to carry out the operations referred to in Article 2 (1) of Royal Decree 2660/1998 of 14 December 1998 on foreign exchange in establishments open to the public other than credit institutions.
(d) Authorising the exchange of currency establishments to carry out ancillary or complementary operations in respect of their principal activity (Article 5 (2) of the Order of 16 November 2000, to regulate certain aspects of the legal regime of currency exchange establishments and their agents).
(e) to resolve and to carry out the communications provided for in the procedures for the modification of the content of the information notified in the applications for the opening of branches of Spanish credit institutions in the Member States of the European Union (Articles 14.4 and 15.3 of Royal Decree 84/2015 of 13 February 2015, implementing Law 10/2014 of 26 June 2014 on the management, supervision and solvency of credit institutions).
(f) to carry out communications relating to the performance of Spanish credit institutions in the Member States of the European Union under the freedom to provide services and to issue the certification provided for in the Article 14.6 of the Royal Decree 84/2015, of 13 February, for which the Law 10/2014, of 26 June, of ordination, supervision and solvency of the credit institutions is developed, that must be issued in this procedure (article 11.2 of the Law 10/2014, 26 of June, and Articles 14.5, 14.6 and 15.4 of Royal Decree 84/2015, of 13 February, for which the old).
g) Making communications relating to Spanish electronic money institutions for the issuance of electronic money or the provision of payment services not linked to such issuance in another Member State of the European Union, or by the establishment of a branch, either under the freedom to provide services or through agents (Article 11 of Law 21/2011 of 26 July 2011, electronic money, and Articles 10 and 14 of Royal Decree 778/2012 of 4 May 2012), legal status of electronic money institutions).
(h) to carry out communications relating to Spanish payment institutions for the provision of payment services in another Member State of the European Union, either by the establishment of a branch or by a free movement the provision of services or through agents (Article 11 of Law 16/2009, of 13 November, of payment services, and Articles 10 and 14 of Royal Decree 712/2010 of 28 May 2010 on the legal status of payment services and of the institutions of payment).
Sixth. Unique Monitoring Mechanism.
The present delegations are to be understood exclusively in the field in which the Banco de España is competent authority as set out in Council Regulation (EU) No 1024/2013 of 15 October 2013, to entrust the European Central Bank with specific tasks related to policies related to the prudential supervision of credit institutions.
Seventh. Acts of processing.
The delegations provided for in this resolution will include the issue of the necessary acts for the exercise of delegated competence.
Eighth. Vocation.
The Executive Committee may endorse the knowledge of any matter whose resolution has been delegated pursuant to this Agreement when circumstances of a technical, economic, social or legal nature do so. convenient.
If the resolution of the case is due, by virtue of this agreement, to a Deputy Director-General or Director of Department, the Director-General of which the Deputy Director-General or Department is responsible may also to endorse your knowledge.
Ninth. Signature delegation.
For the exercise of the above powers, the Directors-General, the Secretary-General, the Deputy Directors-General and the department directors referred to in this Agreement may carry out signature, including on a permanent basis, in favour of the holders of the departments, services, divisions, groups or units in charge of the departments, as well as for the executive coordinators or the directors of the branch.
10th. Statement of account to the Executive Committee.
The Directors-General and the Secretary-General shall give the Executive Committee, at least six months, the Executive Committee, in the field of their respective addresses, of the previous delegations. To this end, each of them shall establish the periodicity with which they shall be informed of the arrangements adopted under this agreement by the staff in charge.
11th. Character of the delegations made.
The regime of delegation of powers established in this agreement is permanent in nature.
12th. Reference to Organic Law 3/2007.
For the purposes of the Organic Law 3/2007, of 22 March, for the effective equality of women and men, the references made in this agreement to the Bank of Spain's charges shall be construed as of the specific gender of those who occupy such positions at any time.
13th. Derogations.
The resolutions of the Executive Committee are not immediately set out below:
Resolution of 18 December 2009, of the Executive Committee of the Banco de España, of approval of the delegation of powers ("BOE" n. 4 of 5 January 2010) and subsequent amendments agreed by the Decision of the Executive Committee of 23 November 2011 ("BOE" n ° 290 of 2 December 2011), 23 December 2011 ("BOE" n. 309 of 24 December 2011), 25 January 2013 ("BOE" n. ° 31 of 5 February 2013), 16 December 2011 ("BOE" n ° 309 of 24 December 2011). April 2013 ("BOE" n ° 99, 25 April 2013), 27 June 2013 ("BOE" n ° 155, 29 June 2013), 29 July 2013 ("BOE" n. 182 of 31 July 2013), 30 April 2014 ("BOE" n ° 114 of 10 May 2014), 29 September 2014 ("BOE" n. ° 238 of 1 October 2014), 5 December 2014 ("BOE" n ° 298, 10 December 2014) and 12 February 2014 2015 ("BOE" n. 40, 16 February 2015).
References to such resolutions contained in current application rules or agreements shall be construed as being made to this agreement or, where appropriate, to those who may, in the future, replace it.
14th. Publication.
This agreement will be published in the "Official State Gazette".
15th. Entry into force.
This delegation of functions agreement shall take effect from the day following its publication in the Official Gazette of the State.
Madrid, 22 May 2015.-The Secretary General of the Banco de España, Francisco Javier Priego Pérez.
ANNEX I
Delegations in favour of the Director-General of Supervision referred to in Annex I referred to in point (a) of the third subparagraph of paragraph 1
Regulations referred to in the articles below: Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and undertakings investment, and amending Regulation (EU) No 648/2012 (named as CRR).
Credit Entities
|
| Standard | Procedure | |
|---|---|---|---|
| 1 | Art. 19.2 of the CRR. | Exclude from prudential consolidation to a subsidiary or investee. | |
|
2 | Art. 41.1.b) of the CRR. | Own funds. Deduction of defined benefit pension fund asset deduction that the entity can use without restrictions | |
|
3 | Art. 49.3 of the CRR. | Own funds. Waiver, in the calculation on an individual or sub-consolidated basis, of the deduction of the holding of own funds instruments in the cases collected in certain cases | |
|
4 | Arts. 76.2 and 76.3 of the CRR. | Own funds. Use of a conservative estimate of an entity's exposure to capital instruments included in indexes | |
|
5 | Arts. 77 and 78 of the CRR. | Supervisory authority to reduce, repurchase or repay own funds, including the assumption provided for in art. 32.2 of Commission Delegated Regulation (EU) No 241/2014 of 7 January 2014 | |
| 6 | Art. 84.5 of the CRR. | Own funds. Exempt a parent financial holding company from the application of Article 84 of the CRR on minority interests | |
|
7 | Arts. 148.1 and 283.3 of the CRR. | Authorizing the modification of the successive application of the internal credit risk methods, counterparty. | |
| 8 | Art. 143.3 of the CRR. | Credit risk, IRB method. Authorize significant changes in rating systems or internal model methods for already authorized variable income exposures, or in their scope of application | |
|
9 | Art. 148.4 of the CRR. | Credit risk, IRB method. Notify that sufficient guarantees are held that the IRB approach will be completed. | |
|
10 | Art. 157.5 of the CRR. | Credit risk, IRB method. Exempt from the calculation of dilution risk weighted assets in exposures arising from the acquisition of receivables from companies or retailers | |
|
11 | Arts. 160.7, 161.3, 163.4 and 164.2 of the CRR. | Credit risk, IRB method. Admit adjustments to the probability of default or loss in case of default in recognition of credit risk coverage based on personal guarantees | |
|
12 |
Art. 162.2.h) of the CRR. | Credit risk, IRB method. Use as expiration the effective duration of the credit estimated by the internal model | |
|
13 | Art. 179.1 of the CRR. | Credit risk, IRB method. Easing the application of required standards for data | |
|
14 | Art. 199.6 of the CRR. | Credit risk, mitigation. Use as eligible collateral for physical collateral of a different kind than those indicated in paragraphs 2, 3 and 4 of Article 199 of the CRR | |
| 15 | Arts. 221.1 and 221.2 of the CRR. | Credit risk, mitigation. Using internal models to calculate the adjusted exposure value in case of compensation framework agreements | |
| 16 | Art. 225.1 of the CRR. | Credit risk, mitigation. Use of own estimates of volatility adjustments according to the broad method for collateral of a financial nature, as well as the reversal of the use of other methods | |
| 17 | Art. 243.2 of the CRR. | Deny the existence of significant transfer in a securitisation, even if the conditions set out in Article 243.2 of the CRR are met | |
| 18 | Art. 256.7 of the CRR. | Credit risk, securitisations. To authorise, in certain cases of securitisations of free and unconditionally uncancelled retail exposures, without prior notice, that the entity applies a treatment which is very close to that prescribed in Article 256.6 to determine the conversion factor indicated. | |
| 19 | Art. 259.1.e) of the CRR. | Credit risk, securitisations. Authorize to calculate the risk weight for certain unqualified positions in an ABCP program in accordance with Articles 253 or 254 of the CRR | |
|
20 |
Art. 259.5 of the CRR. | Authorize a previously authorized entity to use the internal evaluation method in securitisations, to reuse other methods. | |
| 21 | Art. 262.2 of the CRR. | Credit risk, securitisations. Authorize that in retail securitisations the method based on the supervisory formula can be used using the simplifications h = 0 and v = 0 | |
| Art. 263.2 of the CRR. | Credit risk, securitisations. To authorise, where the calculation of risk-weighted exposures for securitised exposures is not possible as if they were not securitised, to temporarily apply the method set out in Article 263.3 of the CRR | ||
|
23 | Arts. 284.4 and 284.9 of the CRR. | Counterparty risk. Allow those entities already authorized to employ internal models for counterparty risk to use their own alpha estimates, or to require an alpha greater than the default collected in Article 284 of the CRR | |
|
24 | Art. 285.1 of the CRR. | Counterparty risk. Authorize to estimate the expected exposure (EE) by directly using the measure resulting from the model in the equation in Article 284.5 of the CRR | |
| 25 | Art. 292.5 of the CRR. | Counterparty risk, internal models. Require that the resistance calibration be adjusted for the expected positive exposure (EPE) | |
| Art. 294.2 of the CRR. | Counterparty risk, internal models. Authorize to use, instead of alpha multiplied by effective EPE, a more prudent measure. | ||
| Art. 298.4 of the CRR. | Counterparty risk. Authorization to choose between original or residual maturity in interest rate contracts, for the purposes of contractual compensation | ||
|
28 | Art. 312.2 and 363.3 of the CRR. | Authorizing the entities to carry out significant extensions and modifications to the advanced methods of calculating the operational risk capital requirements and | |
| 29 | Arts. 312.1 and 312.3 of the CRR. | Operational Risk. Take timely action to notify an entity of its intention to apply the standard method, as well as changes to its advanced methods models | |
|
30 | Art. 313.3 of the CRR. | Operational Risk. Authorize an entity to reapply the basic indicator method. | |
| 31 | Art. 314.4 of the CRR. | Operational Risk. Authorize to use a combination of the basic indicator method and the standard method. | |
| 32 | Arts. 315.3 and 317.4 of the CRR. | Operational Risk. Modify the calculation of the relevant indicator to take into account that a merge, purchase, or lease of entities or activities has occurred | |
| 33 | Art. 323.1 of the CRR. | Operational risk, internal models. Authorization to recognize the effects of insurance and other risk transfer mechanisms | |
|
34 | Art. 325.2 of the CRR. | Market risk. Authorization to compensate positions in an entity with positions in another entity in the group | |
| 35 | Arts. 329.1, 352.1, and 358.3 of the CRR. | Market risk. Authorization to calculate the delta by using a model. | |
|
36 | Art. 331.1 of the CRR. | Market risk. Authorization to use sensitivity models to calculate positions in derived instruments | |
| 37 | Art. 337.2 of the CRR. | Market risk. To allow an investment entity in securitisations in its trading book to use the supervisory formula. Authorize the use of PD and LGD estimates that come from IRC models such as inputs in the monitor formula. | |
| 38 | Art. 352.2 of the CRR. | Market risk. Exclude from the calculation of the net foreign currency position positions that have been deliberately taken to cover the adverse impact of the exchange rate on own resource requirements ratios | |
| < 39 | Art. 366.4 of the CRR. | Market risk, internal models. Limit the second sum of the CRR item 366.2 to which it results from the excess-derived-hypothetical changes | |
| 40 | Art. 382.2 of the CRR. | Credit Rating Adjustment (AVC). Determination that exposures are significant, for the purposes of the institution's need to include securities financing transactions in the calculation of own resources requirements for AVC risk | |
| 41 | Art. 396.1 of the CRR. | Large risks. Grant a limited period of time to return to compliance with the limit | |
| 42 | Art. 401.2 of the CRR. | Large risks. Recognition of the effects of financial collateral when calculating the exposure value | |
|
43 | Art. 414 of the CRR. | Liquidity. In the event of non-compliance with liquidity requirements, authorization to present information less frequently than daily and time limits higher than the business day | |
|
44 | Art. 422.8 of the CRR. | Liquidity. Applying a lower percentage of outputs to certain liabilities | |
|
45 | Arts. 423.2, 425.1, and 425.4 of the CRR. | Liquidity. Require additional liquidity outflows to be considered; to allow for a higher liquidity entry to be applied in certain cases, and to allow certain liquidity inflows to be excluded from full or partial limits | |
|
46 | Art. 471 of the CRR. | Transitional provisions. Authorisation not to deduct from CET1 until 31.12.2022, shares in the capital of insurance undertakings, reinsurance undertakings and insurance holding companies when certain conditions are met |
ANNEX II
Delegations in favour of the Director-General of Supervision referred to in Annex II referred to in point (b) of the third subparagraph of paragraph 1
Regulations referred to in the articles below: Law 10/2014 of 26 June 2014 on the management, supervision and solvency of credit institutions; Royal Decree 84/2015 of 13 February 2015, for which the former is developed; and Royal Decree 84/1993, of 22 January, for which the Regulation of the Development of Law 13/1989, of 26 May, of Credit Cooperatives is approved.
Credit Entities
|
| Standard | Procedure |
|---|---|---|
| 1 | Art. 8.1 of RD 84/2015. | Authorizing dividend sharing on newly created banks |
|
2 | Art. 8.1 of RD 84/2015 and art. 9.1 of RD 84/1993. | Authorizing the inter-living transmission, lien or pignoration of the shares of the newly created banks and of the contributions to the capital of the credit unions new creation, as well as the subscription by a legal person of contributions to the capital of credit cooperatives in excess of 5% of the capital, provided that the volume of the transaction does not apply to the taking of shares significant from Chapter III of Title I of Law 10/2014 on the management, supervision and solvency of credit institutions, and Chapter II of Title I of Royal Decree 84/2015, of 13 February, of the development of that law |
| 3 | Art. 9 of Law 10/2014 and art. 12 of RD 84/2015. | Elevate to the European Central Bank the proposal to revoke the authorisation when the credit institution renounces the authorisation granted, as well as the power to refuse such authorisation. step down |
|
4 | Art. 10 of Law 10/2014 and art. 11 of RD 84/2015. | expressly declare the expiration of the authorization to operate as a credit institution in the cases referred to and following the procedure provided for this purpose. |
|
5 | Art. 22.6 of RD 84/2015. | Set limitations to delegation based on the nature or criticality of the activities |
|
6 |
Art. 90 of RD 84/2015. | Accept, formulate observations or reject proposals for joint decision that the supervisory authorities of the European Union are responsible for supervision on a consolidated basis a group in which a Spanish credit institution is integrated present the Banco de España in the framework of the provisions of Article 90 of RD 84/2015, of 13 February |
|
7 |
Arts. 59.2 and 62.1 of Law 10/2014 and art. 91 of RD 84/2015. | Recognize the decision taken by the competent authority of the host Member State regarding the declaration of branches as significant in the absence of a joint decision; to request the competent authorities of the supervision of a credit institution authorised in the European Union with branches in Spain to be considered as significant branches, and to resolve the significant nature of the branches of credit institutions authorised in the European Union in the absence of a joint decision. |
|
8 | Art. 80.1 of RD 84/2015. | Demanding that deficiencies in an entity's internal model capacity be remedied to reflect risks, as well as take steps to mitigate its consequences or adopt corrective measures |
|
9 | DA 4. of Law 10/2014. | Request the Ministry of Economy and Competitiveness the provision of information of different nature and the carrying out of inspections in relation to with natural or legal persons who, without being registered in some of the legally provided administrative registers for financial institutions, offer to the public the conduct of financial or liability operations or the providing financial services. |
ANNEX III
Delegations in favour of the Director-General of Supervision referred to in Annex III.1 and III.2 referred to in points (c) and (d) of the third subparagraph
paragraph 1.Regulations referred to in the articles below:
Electronic money institutions: Law 21/2011, of July 26, of electronic money, and Royal Decree 778/2012, of 4 May, of legal regime of the entities of electronic money.
Payment Entities: Law 16/2009 of 13 November, of payment services, and Royal Decree 712/2010 of 28 May, of legal status of payment services and of payment institutions.
ANNEX III.1
Electronic money entities
|
| Standard | Procedure |
|---|---|---|
| 1 | Art. 7.2 of Law 21/2011. | Require electronic money institutions to have their own funds up to 20% higher, or to allow them to maintain a figure of up to 20% of their own resources that results from the minimum requirements |
|
2 | Art. 7.2 of Law 21/2011. | Adopt the necessary measures to prevent the multiple use of the elements of own resources, to ensure an adequate distribution of own resources and to guarantee the existence of sufficient capital for the issuance of electronic money |
|
3 | Art. 9.3 of Law 21/2011. | Authorizing the electronic money institutions to use the safeguard method provided for in Article 10.1.b) of Law 16/2009 |
| 4 | Art. 15.3 of RD 778/2012. | The ability to oppose the delegation of essential operational functions |
ANNEX III.2
Payment Entities
|
| Standard | Procedure |
|---|---|---|
| 1 | Art. 8.2 of Law 16/2009 and art. 19.3 of RD 712/2010. | Require the payment institution to own a figure of own funds up to 20% higher, or to allow it to have an own funds figure of up to 20% lower than that resulting from the your minimum requirements |
|
2 | Art. 8.2 of Law 16/2009 and art. 18.2 of RD 712/2010. | Adopt the necessary measures to prevent the multiple use of the elements of own resources to ensure an adequate distribution of these and to ensure the existence of sufficient capital for payment services |
|
3 | Art. 16.2 of RD 712/2010. | The ability to oppose the delegation of essential operational functions |
ANNEX IV
Delegations in favour of the department directors of the Directorate-General for Supervision referred to in Annex IV referred to in point 3 (a) of the third paragraph
Regulations referred to in the articles below: Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and undertakings investment, and amending Regulation (EU) No 648/2012 (CRR)
Credit Entities
|
| Standard | Procedure |
|---|---|---|
| 1 | Art. 9 of the CRR. | Authorize the inclusion, in the calculation of the solvency requirements individually, of certain subsidiaries. |
|
2 | Art. 26.2 of the CRR. | Authorize the inclusion in the Common Equity Tier 1 capital of interim or year-end benefits |
|
3 | Art. 89.1.b) of the CRR. | Own funds. Determining whether a company that is not a financial sector entity performs activities that are considered an extension of the banking activity |
|
4 | Art. 94.3 of the CRR. | Capital requirements. Determination that trading portfolio businesses exceed the threshold that allows their requirements to be calculated as credit risk |
|
5 | Arts. 315.3 and 317.4 of the CRR. | Operational Risk. Authorize modification of the relevant indicator calculation to take into account that a merge, purchase, or lease of entities or activities has occurred |
|
6 |
Art. 416.6 of the CRR. | Liquidity. Determine whether the entity has developed robust methodologies for the valuation of the OIC shares, for the purposes of considering the shares in liquid assets. |
|
7 |
Art. 420.2 of the CRR. | Liquidity. Determination of the liquidity outflow flows to be allocated in relation to products and services not included in Article 422, 423 and 424 of the CRR |
ATTACHED V
Delegations in favour of the department directors of the Directorate-General for Supervision referred to in Annex V referred to in point (b) of the third subparagraph of paragraph 3
Regulations referred to in the articles below: Law 10/2014 of 26 June, of the ordination, supervision and solvency of credit institutions and Royal Decree 84/2015 of 13 February, for which the previous.
Credit Entities
|
| Standard | Procedure | |
|---|---|---|---|
| 1 | Art. 23.5 of RD 84/2015. | The ability to oppose changes in persons or entities that are indirectly, in whole or in part, a significant participation in credit institutions. | |
| 2 | Arts. 25 and 26 of RD 84/2015. | Issue the acknowledgement of receipt; request additional information or remedy for deficiencies; interrupt the assessment period, and extend that time limit in the procedure for taking significant shareholdings | |
|
3 | Arts. 14.4 and 15.3 of RD 84/2015. | Resolve and carry out the communications provided for in the procedures for modifying the content of the information reported in the requests for opening branches of Spanish credit institutions in non-EU Member States | |
| 4 | Art. 11.2 of Law 10/2014 and arts. 14.5, 14.6 and 15.4 of RD 84/2015. | Making communications relating to the performance of Spanish credit institutions in non-EU Member States under the freedom to provide services services, as well as issuing the certification provided for in article 14.6 of the royal decree to be issued in this process | |
|
5 | Art. 26.5 of Law 10/2014 and art. 35.1 of RD 84/2015. | Authorize the granting of credits, guarantees and guarantees to members of the board of directors or general directors or assimilated to the assumptions provided for in the regulations. |
ATTACHED VI
Delegations in favour of the department directors of the Directorate-General for Supervision referred to in Annex VI.1 and VI.2 referred to in the third paragraph, number 3, points (c) and (d)
Regulations referred to in the articles below:
Electronic money institutions: Law 21/2011, of July 26, of electronic money, and Royal Decree 778/2012, of 4 May, of legal regime of the entities of electronic money.
Payment Entities: Law 16/2009 of 13 November, of payment services, and Royal Decree 712/2010 of 28 May, of legal status of payment services and of payment institutions.
ANNEX VI.1
Electronic money entities
|
| Standard | Procedure |
|---|---|---|
| 1 | Art. 12.5 of RD 778/2012. | To process the communications of the electronic money institutions regarding the modifications of the information provided in the procedures for opening branches or freedom to provide services in non-EU Member States |
| 2 | Art. 21 of Law 21/2011. | Issue the acknowledgement of receipt, and request additional information or the remedy for deficiencies in the procedure for taking significant stakes |
ANNEX VI.2
Payment Entities
|
| Standard | Procedure |
|---|---|---|
| 1 | Art. 11.4 of the RD 712/2010. | To process the communications of the Spanish payment institutions regarding the modifications of the information provided in the procedures of opening branches and free provision of services in non-EU Member States |
