OBS_VALUE: Spanish legislation provides for a system of authorisation for non-EU branches to operate in Spain. However, according to Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, Article 47, the conditions for the authorisation of a foreign credit institution cannot give rise to a more favourable treatment than the one from which benefit the remaining credit institutions.  