Skip to content
BOE-A-2026-4950 ·2 March 2026 ·Resolution Low impact
Tax

Financial institutions: call for Treasury liquidity auction with daily maturity on 6 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 be valid from 11 March to 22 April, covering a period of 42 days (First). The interest rate will be variable, calculated by adding the spread offered by the institution to the €STR reference rate (Third).

In 3 key points

  1. Validity period: from 11 March to 22 April (42 days), First. (Primero)
  2. The interest rate will be variable, resulting from the sum of the offered spread and the €STR rate, Third. (Tercero)
  3. The request with the highest rate will 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 42 days (First). The resulting interest rate may be positive or negative depending on the spread offered by the institution relative to the €STR (Third). In the event of a second round, only institutions that were successful in the first round may participate (Third).

Lifecycle

2026-03-02PublishedPublished 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