Skip to content
BOE-A-2026-1224 ·19 January 2026 ·Resolution Low impact
Tax

Financial institutions: call for Treasury liquidity auctions with daily maturity from 28 January to 11 March

The General Directorate of the Treasury and Financial Policy is calling for a liquidity auction for temporary asset acquisition operations (double repurchase agreements) with daily maturity (First). The operations will take place over 42 days, from 28 January to 11 March 2026 (First). The interest rate will be variable, consisting of the spread offered by the institution and the €STR rate (Third).

In 3 key points

  1. Validity of the results: from 28 January to 11 March 2026 (First). (Primero)
  2. The interest rate will be the sum of the offered spread and the €STR rate (Third). (Tercero)
  3. The request with the highest rate shall be at least 2% of the auctioned balance (Third). (Tercero)

How it affects those involved

For participating financial institutions, the auction allows for liquidity management through operations with daily maturity over a 42-day period (First). The resulting interest rate may be positive or negative depending on the offered spread (Third). In the event of a second round, only institutions that were successful in the first round may participate (Third).

Lifecycle

2026-01-19PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

Does this provision affect you?

The tax team reviews your specific situation.

Talk to the tax team
This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
Email
Contact