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The Executive Board of the Bank of Spain, at its meeting of 18 December 2009, established a new regime for the delegation of powers, either of its own or delegated by the Governing Council, with a view to subdelegation, the exercise of administrative powers, replacing the previously existing scheme. This agreement was published in the Official Gazette of the State on 5 January 2010.
In the last few months, there have been new developments in the sector regulation of the entities subject to the supervision of the Banco de España, which advise to modify the current regime of delegations, either by establishing new delegated powers or modifying some of the already agreed.
In particular, in the scope of the General Direction of Regulation, it would be two modifications. The first, relating to the powers delegated to the Director-General for Regulation and the Director of the Department of Financial Institutions, on the control of the new institutions subject to supervision by the Bank of Spain. The second amendment refers to a new power delegated to the Director General of Regulation in order to qualify the computer as the principal capital of the credit institutions for their debt issues obligatorily convertible into ordinary shares.
On the other hand, it is proposed to add new powers delegated to the Director General of Supervision, including that of being able to exempt an entity from reporting on the wholesale funding coefficient, that of accepting or reject certain proposals from the supervisory authorities of the European Union, which are responsible for supervision on a consolidated basis of a group in which a Spanish credit institution is integrated and, finally, to delegate certain powers in order not to oppose changes in the persons or entities through which a person is established significant participation in a credit institution or a Spanish valuation company, without altering it. In addition, the extension of existing delegations for credit institutions to the payment institutions in respect of authorisations in the field of action of the European Union is proposed.
For all this, the Executive Committee, at its meeting on 23 November 2011, 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 Council Resolution of Government of 28 March 2000, has agreed on the following amendments to the delegation of powers established by that same body on 18 December 2009 ("BOE" n ° 4 of 5 January 2010).
First. Amendments to the second paragraph on "Delegations taking place within the scope of the General Direction of Regulation".
The second paragraph of the agreement of the Executive Board of the Banco de España, adopted at its meeting of 18 December 2009, on "Delegations taking place in the field of the General Directorate of Regulation", is amended as follows:
1. The wording of point (d) of the second paragraph number 1 is amended, which is worded as follows:
(d) In the field of advertising of institutions subject to the supervision of the Banco de España, resolve the cessation or rectification of advertising campaigns which do not comply with the provisions of the regulations on the advertising of banking services and products, as well as requiring entities to include in advertising warnings in relation to the product or service offered. "
2. A new point (j) is added to the second paragraph number 1, with the following wording:
" (j) Qualify the computability as the principal capital of the credit institutions of their debt issues obligatorily convertible into ordinary shares, as provided for in the third transitional provision of the Royal Decree-Law 2/2011 of 18 February for the strengthening of the financial system. '
3. The wording of point (c) of point 2 of the second paragraph is amended as follows:
" (c) In the area of advertising of the entities subject to supervision of the Banco de España, request from the institutions the remission of the data contained in its internal advertising register and the documentation corresponding to the advertising campaigns which have been the subject of dissemination, as well as information on the criteria which they generally apply in the preparation and dissemination of their advertising campaigns. "
Second. 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 Banco de España, adopted at its meeting of 18 December 2009, on "Delegations taking place in the field of the Directorate-General for Supervision", is hereby amended. as follows:
1. The wording of point (c) of the third subparagraph of paragraph 1 is amended and read as follows:
" (c) Solve requests for the opening of branches in other countries of the European Union by Spanish credit institutions, exercise or not the power of opposition when the mandatory information is modified provided by a credit institution on the authorisation procedures of a branch in the European Union, and to review the documentation submitted by a Spanish credit institution when it intends to carry out activities under the provision of services in another State of the European Union (Articles 49 and 50 of Law No 26/1988 of 29 July 1988 on Discipline and Intervention of Credit Institutions, and Articles 13, 15 and 16 of Royal Decree 1245/1995 of 14 July 1995 on the creation of banks, cross-border activities and other matters relating to the legal regime of credit institutions), as well as that presented by the payment institutions which intend to carry out their business through a branch or under the provision of services in another State of the European Union or when the information provided by a credit institution is modified. payment in the case of the opening of a branch (Article 11 (1) and (3) of Law 16/2009, 13 of November, payment services). "
2. A new point (k) is added to the third paragraph number 1, with the following wording:
" k) Exempt individual credit institutions or consolidable groups of credit institutions, at the request of the required entity, from the presentation of the state that is included as annexed to Circular 2/2011 of 4 March 2011, credit institutions, on a wholesale basis, in the circumstances laid down in the second rule of that Circular. '
3. A new point (l) is added to the third paragraph number 1, with the following wording:
"l)" Accept or reject proposals for a joint decision that the supervisory authorities of the European Union are responsible for supervision on a consolidated basis of a group in which a Spanish credit institution is integrated present the Bank of Spain within the meaning of Article 10,bis (2a) of Law 13/1985 of 25 May 1985 on investment ratios, own resources and information obligations of financial intermediaries. This delegation also includes the power to make observations and to communicate the decision taken in each case. "
4. The wording of point 2 (b) of the third paragraph is amended, which is worded as follows:
" (b) The ability not to oppose changes in persons or entities through which a significant participation in a Spanish credit institution is held, without altering it, at its authorised time by the competent body (Article 18 (5), Royal Decree 1245/1995 of 14 July). The formulation of opposition to changes in persons or entities through which a significant participation in a Spanish credit institution is held shall be the responsibility of the Executive Committee. This same scheme shall apply to significant shareholdings in a Spanish valuation company. '
5. The wording of point 2 (m) of the third paragraph is amended and read as follows:
" m) Exercise or non-opposition when changing the mandatory information provided by a credit institution or by a Spanish payment institution in the authorisation procedures of a branch in a non-member State European Union. "
Third. Character of the delegations made.
The delegation of powers provided for in this Agreement are of a permanent nature.
Fourth. Publication.
This agreement will be published in the "Official State Gazette".
Fifth. Entry into force.
This agreement shall have effect from the day following its publication in the "Official State Gazette".
Madrid, 23 November 2011.-The Secretary General of the Banco de España, Francisco Javier Priego Pérez.
