Banco de España, in accordance with Article 3.2 of Law 13/1994, holds public consultations on proposed changes to circulars or aspects relating to accounting and financial matters under study, in order to gather the opinions of all stakeholders.
Once the consultation period has concluded and all the comments have been analysed, the Banco de España launches the usual process for approving circulars or guidelines.
Additionally, as a member of the European System of Central Banks (ESCB) it also participates in the public consultations instigated by the European Central Bank (ECB), in order to gather opinions on certain monetary and financial issues.