Bank of Spain Circular 5/2012, dated 27 June 2012, on transparency in banking and responsible lending

On 6 July 2012 the Bank of Spain Circular 5/2012, dated 27 June 2012, addressed to credit institutions and payment service providers, regarding transparency in banking and responsible lending (the “Circular”) was published in the Official State Gazette. The Circular is aimed at implementing in an organised manner and in line with best market practices the requirements brought in by Ministerial Order EHA/2899/2011, of 28 October 2011, on transparency and consumer protection in banking (the “Order”) and replaces the previous Bank of Spain Circular 8/1990, dated 7 September 1990, on transparency and consumer protection.

Click here to read more on the Bank of Spain Circular.