Other business areas

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Current legislation attributes to Sepblac a series of additional functions directly related to the protection of the integrity of the financial system:

Centralized Banking Account Register (FTF)

Sepblac is responsible for the the management of the Centralized Banking Account Register (FTF, from its initials in Spanish), a financial research instrument in which holdings of more than 130 million accounts and deposits are currently held. Legally created with the exclusive purpose of preventing and impeding money laundering and terrorist financing, access to FTF is strictly limited and subject to rigorous precautions.

Authorizations

Financial regulations require mandatory reports by Sepblac prior to obtaining a series of authorizations (creation of new financial institutions, acquisition or increase of significant shareholdings, structural modifications). Reports by Sepblac aim to reduce the risk of money laundering and terrorist financing and to ensure that authorized financial institutions operating in Spain have adequate internal control procedures.

Financial sanctions and countermeasures

Sepblac is responsible for the supervision and inspection of compliance of the financial sanctions established by Community regulations or agreements by the Council of Ministers in application of resolutions by the United Nations Security Council and the countermeasures adopted by the Council of Ministers with respect to third countries.