Banking Supervision

Sanctions imposed by the Banco de España

Under the provisions of Art. 115.7 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, the Banco de España shall publish on its website the sanctions and reprimands imposed in relation to serious and very serious infringements within 15 working days from the date on which such sanctions and reprimands have become final pursuant to administrative proceedings. Where appropriate, and if it is so resolved, the identity of the person subject to the sanction or reprimand may remain confidential.

In compliance with this obligation, the following table includes a reference to the aforementioned sanctions and reprimands imposed by the Banco de España since the entry into force of Law 10/2014, referring to the appeals for judicial review, if any, lodged against the sanctioning resolution, and the outcome thereof.

Decision date Information on infringements and sanctions imposed Status
26-10-18

Fine imposed on Banco Santander, S.A., in its capacity as universal successor of Banco Popular Español, S.A., amounting to one million five hundred thousand euro (€1,500,000), pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement of the type defined in Article 5(e) of said Law 26/1988, consisting in the performance of actions or operations in breach of the rules issued under Article 29(2) of Law 2/2011 of 4 March 2011 on the sustainable economy.

This infringement was committed since breaches were detected of Ministerial Order 2899/2011 and of Banco de España Circular 5/2012 relating to: the provision to customers of pre-contractual and contractual information and the compulsory content of such information; calculation of APR; and the charging of commission for services not provided.

Final administrative decision. Currently under appeal before the courts
26-10-18

Fine imposed on Banco Santander, S.A., in its capacity as universal successor of Banco Popular Español, S.A., amounting to three million euro (€3,000,000), pursuant to Article 9(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a very serious infringement of the type defined in Article 4(e) of said Law 26/1988, consisting in the performance of actions or operations prohibited by regulatory and disciplinary provisions with the status of law or in non-compliance with the requirements laid down in those provisions , unless on a merely occasional or isolated basis.

This infringement was committed since breaches were detected of Laws 41/2007 and 44/2002 relating, respectively, to: the compensation and charges in the event of early repayment and the application of interest rate rounding clauses.

Final administrative decision. Currently under appeal before the courts
26-10-18

Fine imposed on BANKIA, S.A., in its capacity as universal successor of Banco Mare Nostrum, S.A., amounting to nine hundred thousand euro (€900,000), after the application of the reductions established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 9(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a very serious infringement, as defined in Article 4(e) of said Law, consisting in the performance of actions or operations prohibited by regulatory and disciplinary provisions laid down by statute or in breach of the requirements laid down therein, not merely on an occasional or isolated basis.

Final decision
26-10-18

Fine imposed on BANKIA, S.A., in its capacity as universal successor of Banco Mare Nostrum, S.A., amounting to three hundred thousand euro (€300,000), after the application of the reductions established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, as defined in Article 5(e) of said Law, consisting in the performance of actions or operations in breach of the rules issued under Article 29(2) of the Sustainable Economy Law, and, in particular, in breach of Ministerial Order EHA/2899/2011 and Banco de España Circular 5/2012.

Final decision
26-10-18

Fine imposed on BANKIA, S.A., amounting to nine hundred thousand euro (€900,000), after the application of the reductions established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, as defined in Article 5(e) of said Law, consisting in the performance of actions or operations in breach of the rules issued under Article 29(2) of the Sustainable Economy Law, and, in particular, in breach of Ministerial Order EHA/2899/2011 and Banco de España Circular 5/2012.

Final decision