We are constantly working to improve the site, and to add more laws to our database. If you are receiving value from using our site please consider signing up for a subscription to support the site and to get many additional benefits for you.
Key Benefits:
(You can close this ad by clicking anywhere on the page.)
Key Benefits:
The current system of delegation of powers of the Executive Commission of the Banco de España framed in the exercise of administrative powers was established by agreement of 18 December 2009, subsequently amended by agreement of the same body adopted on 23 November 2011. Two agreements were published in the Official Gazette of the State on 5 January 2010 and 2 December 2011 respectively.
Among the delegated powers, on the one hand, to the Director General of Regulation and, on the other, to the Director General of Supervision, is to resolve certain procedures and actions provided for in Circular 3/2008, May 22, of the Banco de España, to credit institutions, on the determination and control of the minimum own resources, in the matters contained in Annexes I and II, respectively, to the said delegation of powers agreement.
Circular 3/2008, of 22 May, has been the subject of an amendment in the last few months, by Circular 9/2010 of 22 December, and more recently by Circular 4/2011 of 30 November, giving rise to new procedures and actions framed in the exercise of administrative powers by the Bank of Spain whose nature advises them to be the subject of delegation, with the addition of those currently established in favour of the Director General of Regulation and of the Director General of Supervision, by means of its inclusion in Annexes I and II respectively to the delegation of powers of the Executive Board of the Bank of Spain of 18 December 2009.
It is also considered appropriate to include an additional delegation in favour of the Director General of Supervision concerning the individual exclusion of a savings bank from the consolidable group of credit institutions, according to provided for in Article 8 (5) of Law 13/1985, in the case of savings banks which, within the framework provided for in the Third Additional Provision of Royal Decree-Law No 2/2011, have given in to the direct exercise of their financial activity.
Therefore, the Executive Committee, in accordance with the provisions of Article 68 in relation to the 60, both of the Rules of Procedure of the Banco de España, approved by the Governing Council Resolution of 28 March 2000, has agreed on the following amendments to the delegation of powers established by agreement of that same body on 18 December 2009 (BOE No 4 of 5 January 2010), as amended by agreement of 23 November 2011 (BOE No 290 of 2 December 2011):
First. Amendments to the third paragraph on "Delegations taking place within the scope of the Directorate-General for Supervision".
The third paragraph of the agreement of the Executive Board of the Bank of Spain of 18 December 2009 on "Delegations taking place within the scope of the Directorate-General for Supervision" is amended as follows:
1. A new point (m) is added to the third paragraph number 1, with the following wording:
" (m) Require or authorize the individual exclusion of a savings bank from the consolidated group of credit institutions in accordance with the provisions of Article 8 (5) of Law 13/1985 of 25 May 1985 on investment, own resources and reporting obligations of financial intermediaries, provided that these are savings banks which, in the framework provided for in the third Royal Decree-Law No 2/2011 of 18 February 2011, for the strengthening of the financial system, have given in to the direct exercise of their financial activity. "
Second. New delegations to be included in Annex I to the agreement of the Executive Committee of 18 December 2009 on the delegation of powers.
They are incorporated in Annex I to the Agreement of the Executive Committee of 18 December 2009, referred to in point (c) of the second subparagraph of paragraph 1, the following actions and procedures to be delegated to the Director General of Regulation:
|
Standard 3/2008 | Procedure |
|---|---|
| 125ª |
Exempt from filing liquidity statements (LQs), require the filing of such statements in a disaggregated form (by entities included in a group, by currency or geographical areas, by currencies), require a increased frequency in the presentation, as well as shortening or dilating the filing deadline |
Third. New delegations to be included in Annex II to the agreement of the Executive Commission of 18 December 2009 on the delegation of powers.
They are incorporated in Annex II to the Agreement of the Executive Committee of 18 December 2009, referred to in point (g) of the third subparagraph of paragraph 1, of the following actions and procedures to be delegated to the Director Monitoring General:
|
Standard 3/2008 | Procedure |
|---|---|
|
8t.1.d) | Modification of the option of not computing in the calculation of own resources amount any of the capital gains and losses on debt securities accounted for by its fair value as assets available for sale |
|
59t.8 |
|
|
93er.bis.2 | In the method intended to reflect incremental default and migration risks, systematic inclusion of all positions in listed variable income and of all positions in income-based derivatives listed variable |
| 93t.bis.12 | Setting up specific and default extreme situation scenarios, and capital requirement supplemental relative to the mapping negotiation portfolio |
|
94t.4 | Choosing historical data to integrate into the value model at risk for the purposes of calculating an "extreme value at risk" |
| 102.bis.2 | In the method based on internal ratings, recognition of the effects of the actual collateral of a financial nature on its exposures when calculating the value of these. |
Fourth. Character of the delegations made.
The delegation of powers provided for in this Agreement are of a permanent nature.
Fifth. Publication.
This agreement will be published in the "Official State Gazette".
Sixth. Entry into force.
This agreement shall have effect from the day following its publication in the "Official State Gazette".
Madrid, December 23, 2011.-The Secretary General of the Banco de España, Francisco Javier Priego Pérez.
