In accordance with the provisions of Article 61b of the Spanish Securities Market Act, the BBVA Group has prepared the Annual Corporate Governance Report for 2011, which is an integral part of this Management Report, following the content guidelines set down in Order ECO 3722/2003, dated December 26, and in CNMV Circular 4/2007, dated December 27, including a section detailing the degree to which the Bank is compliant with existing corporate governance recommendations in Spain. See attached report (ACGR).
In addition, all the information required by article 539 of the Spanish Securities Market Act can be accessed on BBVA’s website (www.bbva.es) in the section entitled “Corporate Governance”.