Ref. Ares(2017)6184430 - 18/12/2017
Ref. Ares(2019)4291643 - 05/07/2019
CHECKLIST
For reporting according to Regulation (EU) 1233/2011
I.
Reporting country information
Reporting Country
SPAIN
Submission Date
Reporting Institution (Government
Ministry
of
Economy
Industry
and
Department, ECA)
Competitiveness, CESCE S.A,
Instituto de Crédito Oficial
II.
Reporting country legal and policy information
Mandate/Legal status of ECA
CESCE was constituted by Law in 1970 as a
mixed capital company, in which the State holds
the majority share and the other shareholders are
the main Spanish Financial institutions, as well
as some private insurance companies. Since its
creation CESCE has been under a legal mandate
to manage Export Credit Insurance on behalf of
the Spanish State.
The Ministry of Economy Industry and
Competitiveness is responsible for managing the
Fund for the Internationalization of Businesses
(FIEM) that was created by Law 11/2010, 28 of
June, with the goal of promoting the
internationalization
of
Spanish
companies,
working under a direct lending scheme. The
Fund substituted the previous Development
Assistance Fund (FAD) that was established in
1976.
Officially
supported
export
credit
- Buyer Credit Guarantee ( insurance)
programs(in the sense of Article 5 of the
- Supplier Credit Guarantee ( insurance)
OECD Arrangement) during reporting
- Interest rate support ( Official Credit
period
Institute)
- Direct Financing (Ministry of Economy
Industry and Competitiveness through
the FIEM Fund)
- Tied aid (Ministry of Economy Industry
and Competitiveness)
Annual reports available on reporting year
The annual report for 2016 has been published in
June 2017 and it is publicly available at
www.cesce.es
The activity report of Ministry of Economy
Industry and Competitiveness for 2016 has been
published in April 2017 and is publicly available
at
www.comercio.es
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III.
Information on the reporting MemberState’s Export Credit policies:
General presentation of the reporting MS’ CESCE aims to contribute to environmental and
policies on export credits, including all social
sustainability.
An
assessment
of
information that can help the Commission environmental and social factor is integrated on
in carrying out its evaluation regarding the CESCE´s risk analysis. CESCE only takes risks
compliance of the Export Credit Agencies on transactions where environmental and social
with EU objectives and obligations1 (in the factors comply with international standards.
sense of Article 3, Annex 1 of EU
Regulation1233/2011)
The activity of Ministry of Economy, Industry
and Competitiveness aims to contribute to
environmental and social sustainability. An
assessment of environmental and social factor is
integrated on Ministry´s analysis.
Special information on the following
policies:
a) Yes, CESCE does apply the OECD Common
Approaches.
1) Environment:
a)
Do
you
apply
the
OECD Yes, Ministry does apply the OECD Common
Recommendation on Common Approaches Approaches.
to
the
Environment
and
Officially
Supported Export Credits?
(its successor instrument the OECD
Recommendation on Common Approaches
on Officially Supported Export Credits and
Environmental and Social Due Diligence?)
b) any other relevant information
2) Human rights:
a) Do you apply the Human Rights related a) Yes, CESCE does apply the OECD Common
aspects of the
Approaches for the aspects related to social
Recommendation on Common
issues.
Approaches, on Officially Supported
Export Credits and Environmental and Yes, Ministry does apply the OECD Common
Social Due Diligence?
Approaches for the aspects related to social
issues.
b) Any other relevant information?
3) Anti-Bribery measures:
a)
Do
you
apply
the
OECD Yes,
CESCE
does
apply
the
OECD
Recommendation
on
Bribery
and Recommendation on Bribery and Officially
Officially Supported Export Credits?
Export Credits.
b) Any other relevant information?
Yes,
Ministry
does
apply
the
OECD
Recommendation on Bribery and Officially
Export Credits.
1EP side suggested to use such a phrase (to ensure that it is not forgotten that the Regulation's official reference
is to "EU objectives and obligations)
2
4) Sustainable Lending Practices:
a) Do you apply the OECD Principles and Yes, CESCE does apply the OECD Principles
Guidelines
to
Promote
Sustainable and Guidelines to Promote Sustainable Lending
Lending Practices in the Provision of Practices in the Provision of Official Export
Official Export Credits to Low Income Credit to Low Income Countries.
Countries?
Yes, Ministry does apply the OECD Principles
b) Any other relevant information?
and Guidelines to Promote Sustainable Lending
Practices in the Provision of Official Export
Credit to Low Income Countries.
5) Other policies
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IV.
Annual Activity Report data:
Explanatory note:
“MS shall report, in accordance with their national legislative framework, on assets and
liabilities, claims paid and recoveries, new commitments, exposures and premium charges."
From Regulation 1233/2011,Annex 1.
Member States that have more than one ECA should do one single integrated report (reporting
obligation is on the MemberState as such, not the ECA). Where a MS offers at the same time
different types of products (pure cover and direct lending), the reporting under chapter IV
should however differentiate.
A) In case of official support is provided in the form of export credit guarantee or
insurance (“pure cover”) in the sense of Art 5a 1) OECD Arrangement:2
Overview of assets
n.a
Overview of liabilities
10.035,7
Aggregate nominal risk exposure
01-01-2016
10.017,2
31-12-2016
10.035,7
a.) nominal risk exposure under insurance
policies issued
01-01-2016
8.060,1
31-12-2016
8.116,2
b.) nominal risk exposure under promises
and notices of cover
01-01-2016
1.987,1
31-12-2016
1.919,5
Premium Income
85,35
Recoveries
169,71
Claims paid
103,63
B) In case official support is provided in the form of Official Financing Support in
the sense of Article 5a2) OECD Arrangement:
INTEREST RATE SUPPORT
Overview of assets
1.936
Overview of liabilities:
N/A
a) nominal value of officially supported
loan portfolio
01-01-2016
2.126
31-12-2016
1.936
b) total value of off balance commitments
01-01-2016
N/A
31-12-2016
N/A
Interest received
N/A
Annual profit/loss
EUR 34,43
2Member States not using EUR should report the figures in their national currency and in EUR
3Please note that the annual profit has been reduced because of swap hedging (IRS)
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C) In case official support is provided in the form of Official Financing Support in
the sense of Article 5a2) OECD Arrangement:
DIRECT FINANCING (FIEM)
Overview of assets
5.025
Overview of liabilities:
N/A
a) nominal value of officially supported
loan portfolio
01-01-2013
5.240
31-12-2013
5.025
b) total value of off balance commitments
01-01-2013
N/A
31-12-2013
N/A
Interest received
N/A
Annual profit/loss
N/A
V.
Contingent liabilities
Where contingent liabilities might arise
from officially supported export credit
activities,
those
activities
shall
be
reported:
Not applicable
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V.
Evaluation and incorporation of environmental risks
Environmental risks:
We apply the Recommendation to those
transactions that fall under its scope.
We also review from an environmental and
social standpoint other types of transactions.
Depending on the product and its characteristics
we might apply similar procedures to those
included in the Recommendation or others tailor
made for these particular transactions.
a)
Number/exposure
of
transactions During 2016 2 category A transactions became
Category A
policies.
b) Number/exposure of transactions
During 2015 6 category B transactions became
Category B
policies.
How are environmental risks, which can In general terms environmental risks are
carry other relevant risks, taken into reviewed aside from other type of risks.
account in the officially supported export Nevertheless, there may be cases in which
credit activities?
environmental risks might trigger other relevant
risks. This can be especially important in project
finance transactions where special care is taken
in order to compensate or mitigate the risks, in
compliance with the international standards set
out in the Recommendation.
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Document Outline