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
30-11-18

Fine imposed on CAIXABANK, S.A., amounting to three million six hundred thousand euro (€3,600,000), after application of the reductions envisaged 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 sanctioning 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 this latter Law.

Breaches of rules with the status of a law have been detected in relation to the limits imposed by Law 41/2007 on exit fees for early repayments, to the rules on the replacement of benchmark indices established in the Fifteenth Additional Provision of Law 14/2013 and to the rules on interest rate rounding in the Twelfth Additional Provision of Law 44/2002.

Final decision
30-11-18

 

Fine imposed on CAIXABANK, S.A., amounting to one million two hundred thousand euro (€1,200,000), after application of the reductions envisaged 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 sanctioning 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 this latter Law.

Breaches have been detected of specific requirements relating to the delivery of pre-contractual information, to the minimum content of such information and of contractual documentation, to the method of calculating the annual percentage rate (APR) and to the information provided in respect of compensation for bearing interest-rate risk in early repayments. All these obligations are laid down in Ministerial Order 2899/2011 and Banco de España Circular 5/2012.

Final decision
30-11-18

Fine imposed on BANCO BILBAO VIZCAYA ARGENTARIA, S.A., amounting to one million five hundred thousand euro (€1,500,000), after application of the reductions envisaged 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 sanctioning 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 this latter Law.

Breaches have been detected of specific requirements relating to the delivery of pre-contractual information to the customer, to the method of calculating the annual percentage rate (APR), to the information provided in respect of compensation for bearing interest-rate risk in early repayments and to the charging of commission for the removal of a discharged mortgage from the Land Registry, and, finally, to the custody of contractual documentation. All these obligations are laid down in Ministerial Order 2899/2011 and Banco de España Circular 5/2012.

Final decision
30-11-18

 

Fine imposed on BANCO BILBAO VIZCAYA ARGENTARIA, S.A., amounting to one million two hundred thousand euro (€1,200,000), after application of the reductions envisaged 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 sanctioning 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(d) of this latter Law.

Occasional or isolated breaches of rules with the status of a law have been detected. These are specifically breaches relating to the limits imposed by Law 41/2007 on exit fees for early repayments and to the rules on the replacement of benchmark indices established in the Fifteenth Additional Provision of Law 14/2013.

Final decision