The Institutions’ Conduct Department assumes functions directly aimed at the public, such as the Complaints Service, and deals with consumer queries and information as well as financial education. It also supervises the conduct of financial institutions and participates in drafting regulations on transparency and bank customer protection.

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Supervision of conduct of financial institutions and regulation

The requirements that the banking and discipline regulation imposes on the supervised financial institutions act as customer protection measures, thus contributing to safeguarding user confidence in the financial system and, in turn, preserving its stability. The Institutions’ Conduct Department is responsible for developing the regulations and for resolving interpretative queries related to conduct, transparency and banking customer protection.

Conduct supervision actions aim to verify the effective compliance with the conduct and transparency regulation, as well as to modify the institutions’ conduct culture, as way for ensuring an appropriate financial relationship between institutions and their customers, while making progress towards a responsible banking model and a preventive conduct supervisory approach.

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Complaints and enquiries

Deals with queries and resolves claims submitted by users of financial services of entities supervised by the Bank of Spain with the aim of obtaining restitution of their legally recognized interests and rights, as a result of alleged breaches by the claimed entities, of regulations on transparency and protection of customers or good practices and financial practices

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Financial education

In this field, and in collaboration with the CNMV, the Financial Education Plan is being developed which aims to improve practical knowledge about the population’s finances. In addition, the Banco de España is developing initiatives to increase the public’s financial literacy and knowledge of euro banknotes and coins. All of this is to enable the public to face up to their financial decisions with better understanding and therefore reinforce the stability of the financial system.

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Providing information and services to the public

The Banco de España works to improve relations between supervised institutions and their customers, ensuring transparency and balance in these relations. To this end, it assists citizens in their relations with these institutions, providing information such as statistics on rates and fees that allow comparison between institutions, tools such as simulators that help us to assess the impact of financial products on our economy, or disseminating advice on how to avoid falling victim to fraud in our banking operations.