Banco de España reorganizes competencies: what changes for financial entities in 2026

Key data

Financial entities supervised by the Banco de España have had a new internal map of decision-making competencies since 23 March 2026. The Resolución de 23 de marzo de 2026 (BOE-A-2026-7341) updates the delegation scheme among the supervisor's governing and management bodies, redistributing which body signs and resolves each type of procedure.

For the vast majority of Spanish businesses, this regulation has no direct impact. But for banks, savings banks, credit institutions and investment services firms, understanding this new allocation is operationally critical: it affects how and before which body authorisations, appeals and sanctioning proceedings are handled.

What does this regulation establish?

The Banco de España, like any complex public body, internally distributes its decision-making powers among different bodies: the Governor, the Deputy Governor, the Executive Commission and the various Directors General. This resolution updates that distribution.

In practical terms, the regulation determines three specific things:

• Which body is competent to resolve authorisations requested by financial entities (branch openings, changes of control, activity expansions, etc.).
• Which body investigates and resolves sanctioning proceedings within the framework of prudential supervision.
• Which body signs the requirements addressed to supervised entities in the exercise of the supervisory function.

The regulation is one of internal organisation, which means it does not modify the substantive requirements that entities must meet, nor the legal deadlines of procedures. What changes is the chain of signature and decision within the Banco de España itself.

This type of resolution is updated periodically to adapt the supervisor's internal structure to organisational changes, new responsibilities or area reorganisations. The 2026 resolution replaces the previous delegation scheme, although the available data does not specify the exact reference of the repealed regulation.

Economic and operational impact

The direct economic impact of this regulation is nil: it does not introduce new fees, does not modify sanction amounts, nor does it create new reporting obligations. However, its operational impact for supervised entities can be significant if not properly managed.

• Procedural risk: Directing an authorisation request or an appeal to the wrong body may result in inadmissibility or the need to redo the process, with the associated cost in time and resources.
• Sanctioning proceedings: If there are ongoing sanctioning procedures, the change of competent body may affect the validity of subsequent actions if they are not adapted to the new scheme.
• Authorisation planning: Entities planning to apply for authorisations in 2026 must verify which body they should now address.
• Relationship with the supervisor: Compliance teams and external advisors managing the relationship with the Banco de España must update their internal communication protocols.

Who is affected?

The impact varies significantly depending on the type of entity:

• Banks and credit institutions directly supervised by the Banco de España: high impact on authorisation and supervision procedures.
• Savings banks and credit cooperatives under Banco de España supervision: same level of impact as credit institutions.
• Investment services firms (ESIs) supervised by the Banco de España: affected in their authorisation and sanctioning procedures.
• Payment institutions and electronic money institutions under Banco de España supervision: affected in their dealings with the supervisor.
• Law firms and consultancies advising financial entities in proceedings before the Banco de España: must update their communication protocols.
• Non-financial companies: nil or no impact.

Practical example

A mid-sized bank has an ongoing authorisation request for the acquisition of a significant shareholding in another entity. The file was initiated under the previous delegation scheme, where the competence to resolve it belonged to a specific management body of the Banco de España.

Following the entry into force of the resolution on 23 March 2026, that competence may have been reassigned to another body. If the bank continues to address its written communications to the previous body, it may find that notifications do not reach the correct responsible party, that response times are extended, or that procedural incidents arise that delay the authorisation.

The correct course of action is for the compliance team or external advisor to verify, before any new communication with the Banco de España, which body is now competent for that type of procedure under the new delegation scheme.

What should companies do now?

1. Review the full text of the resolution in the BOE (BOE-A-2026-7341) to identify which body is now competent for each type of procedure affecting your entity.
2. Audit ongoing proceedings before the Banco de España (authorisations, requirements, appeals, sanctioning proceedings) and verify whether the competent body has changed.
3. Update internal communication protocols with the supervisor: who signs the written communications, to whom they are addressed, and which body should receive each type of communication.
4. Inform external advisors (law firms, compliance consultancies) managing proceedings before the Banco de España so they can adapt their actions to the new scheme.
5. Establish a periodic verification process: delegation of competencies resolutions are updated with some frequency. It is advisable to have an alert system to detect future changes without relying on manual review of the BOE.

Official source

Disclaimer: This article is for informational purposes only and does not constitute legal advice. For specific decisions, please consult a qualified professional. Source: https://www.boe.es/diario_boe/txt.php?id=BOE-A-2026-7341