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.

Publication date Information on infringements and sanctions imposed Decision date Status
28/12/18

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.

30/11/18 Final decision
28/12/18

 

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.

30/11/18 Final decision
28/12/18

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.

30/11/18 Final decision
28/12/18

 

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.

30/11/18 Final decision
18/12/18

Fine imposed on CAIXABANK, S.A. amounting to three hundred and fifty thousand euro (€350,000) pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, which was the law in force at the time the acts concerned were committed, for the commission of a serious infringement of the type described in Article 15 of Royal Decree-Law 6/2012 of 9 March 2012 on urgent measures to protect mortgagors experiencing financial hardship.

This infringement has been committed as a result of the Institution being in breach of certain obligations relating to how the Code of Good Practice should be applied and the information that should be provided to the customer on the Code (respectively, Article 5(4) and Article 5(9) of Royal Decree-Law 6/2012).

30/05/18 Final decision
05/12/18

The payment institution Transferencias América, S.A. has been fined thirty five thousand euro (€35,000), under Article 10(a) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as it failed to have  proper administration and management in Spanish territory.

28/09/18 Final decision
07/12/18

The payment institution Transferencias América, S.A. has been fined one hundred thousand euro (€100,000), under Article 97(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as its own funds were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
07/12/18

The payment institution Transferencias América, S.A. has been fined thirty five thousand euro (€35,000), under Article 10(a) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as it failed to comply with obligations regarding the safeguarding of customer funds delivered for transfer to payees.

28/09/18 Final decision
07/12/18

Ms Silvia Patricia Miranda Juárez, Chair of the Board of Directors and Chief Executive Officer of Transferencias América S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to have proper administration and management in Spanish territory.

28/09/18 Final decision
07/12/18

Ms Silvia Patricia Miranda Juárez, Chair of the Board of Directors and Chief Executive Officer of Transferencias América S.A., has been fined twenty thousand euro (€20,000), under Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as the own funds of this entity were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
07/12/18

Ms Silvia Patricia Miranda Juárez, Chair of the Board of Directors and Chief Executive Officer of Transferencias América S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to comply with obligations regarding the safeguarding of customer funds delivered for transfer to payees.

28/09/18 Final decision
07/12/18

Mr José Antonio Zamudio Farrera, member of the Board of Directors of Transferencias América, S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to have proper administration and management in Spanish territory.

28/09/18 Final decision
07/12/18

Mr José Antonio Zamudio Farrera, member of the Board of Directors of Transferencias América, S.A., has been fined twenty thousand euro (€20,000), under Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as the own funds of this entity were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
07/12/18

Mr José Antonio Zamudio Miranda, member of the Board of Directors of Transferencias América, S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to have proper administration and management in Spanish territory.

28/09/18 Final decision
07/12/18

Mr José Antonio Zamudio Miranda, member of the Board of Directors of Transferencias América, S.A., has been fined twenty thousand euro (€20,000), under Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as the own funds of this entity were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
07/12/18

Mr Andres Zamudio Miranda, member of the Board of Directors of Transferencias América, S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts in question were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to have proper administration and management in Spanish territory.

28/09/18 Final decision
07/12/18

Mr Andres Zamudio Miranda, member of the Board of Directors of Transferencias América, S.A., has been fined twenty thousand euro (€20,000), under Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as the own funds of this entity were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision