The Bank of Spain Published Circular 1/2021 on Central Risk Information Center (CIRBE)

 January 31 2021 saw the entry into force of the Bank of Spain’s (BdE’s) Circular 1/2021, modifying Circular 1/2013 of the Central Risk Information Centre (CIR/CIRBE) on the reporting of credit information of direct risk holders (loans) and indirect risk holders (guarantees).

This update brings about a number of changes. The population of entities that have to be declared to the CIR has been expanded and the threshold amount for the reporting to the CIR has been lowered, increasing the volume of the information that must be reported. More specifically the below outlines the major changes brought about by the update to 1/2021 update to Circular 1/2013:

  • The modification of the threshold of accumulated risk from EUR 9,000 to EUR 1,000 for the purposes of reporting. This will increase the volume of risk holders and contracts in scope for reporting to the CIR as well as those included in those returned to entities for the credit assessment of risk holders by reporting agencies.
  • Inclusion of a maximum time limit of 21 (calendar) days following the date of last declaration for the provision of credit information by the BdE to reporting entities
  • Addition of providers of payment services to the scope of reporting entities
  • Addition of electronic money entities, including those that carry out services under the passporting of services
  • Modification of the scope of reporting for the new reporting entities, which will be aligned to the recent reduced return model that is already applied to real estate lenders and credit institutions operating under the passporting of services
  • Additions to the official reference rates used for reporting


For more information please visit: BdE Website

Jurisdiction: Spain


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