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Bank of Spain

Bank Of Spain Wants To Change Provisions Circular Ahead Of International Normative

The Bank of Spain (BoS) wants to modify the recent circular 4/2016 which regulates the method for calculating provisions in the sector. Under the IASB normative, expected to be introduced on a European-wide level on 1 January 2018, provisions will be calculated according to the expected loss in a credit transaction and not according to the loss incurred as up to now.