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The Bank of Spain Will Give Banks More Flexibility with their Refinancings

From today, the Bank of Spain will give a greater margin to financial institutions when measuring the risk of refinancing a loan.

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The Bank of Spain’s oxygen balloon will allow the banks that that are now offering this relief measure to their clients to get through the crisis, to not always assume that the risk will increase. The institution chaired by Pablo Hernández de Cos has approved a double amendment to Circular 4/2017 regarding public and reserved financial reporting standards for credit institutions, which involves the approval of two new circulars.

Specifically, the new regulation published on Tuesday in the Official State Gazette allows entities to classify refinancing operations in the “normal” category if there has not been a significant increase in the credit risk. All this, notwithstanding that they must continue to be identified as refinanced for their proper monitoring and risk management.

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