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BOE-A-2026-17569 ·11 August 2026 ·Resolution Medium impact
Corporate

Financial institutions: publication of July 2026 IRS reference rates for market value calculation

The Bank of Spain has published the Interest Rate Swap (IRS) indices and reference rates for July 2026. These values are used to calculate the market value for interest rate risk compensation in mortgage loans and to determine the spread applicable to the early repayment of loans or credits (Art. 1).

In 2 key points

  1. IRS rates for interest rate risk compensation: from 2.909% (2 years) to 3.315% (20 years), Art. 1.A (art. 1.A)
  2. One-year IRS rate for calculating the spread in early repayments: 2.718%, Art. 1.B (art. 1.B)

How it affects those involved

For financial institutions, these rates serve as the mandatory technical basis for valuing interest rate risk in mortgages and for calculating compensation for early repayments (Art. 1). For individuals, these indices indirectly determine the market value that the institution must consider when performing settlements or compensations for interest rate risk.

Lifecycle

2026-08-11PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BMC.
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