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Why are there waiting lists at the Bank of Spain and how do they buy?


Treasury bills are gaining more and more followers, so much so that there are already waiting lists at headquarters Bank of Spain to buy them for the next auction. Some public debt securities that until a few quarters of profitability remained negative are now resurfacing. How can it be purchased and where?

The reason for the uproar, which the public debt has reawakened again, is due to the profitability it provides. Recent auctions of bills have been produced for approx 3%. This figure compares very well with the barely 0.7% offered by bank deposits. In this way, bills—three, six, nine, or twelve months—seem to be a safer and more profitable option for consumers to try to make some returns on their savings. Financial sources state that an investor in public debt tends to have a conservative profile.

This profitability caused some users to go to the headquarters of the Bank of Spain to buy treasure letters in upcoming auctions; Indeed, these days queues formed in the offices of the superintendent, forcing the institution to request a pre-appointment, which will be necessary from February 7th. To be able to make the purchase in person at the headquarters of the Financial Superintendent, you must use the direct account service, which are the securities accounts that citizens open at the Bank of Spain to manage the public debt they buy.

In this sense, the user must go to any branch of the Bank of Spain with the following documents

– the nif For all direct account holders (original and copy).

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– the Credit account details (The account to which you want the Bank of Spain to deposit interest and amortization).

– the money to invest. “Payment during the entire subscription period can be made by cash, bank, certified check or money order which will be made, no later than the day before the auction, to the payment account authorized by the Bank of Spain for this purpose and which will be indicated at the time of opening the direct account. In addition, payment may be made by blank check from the beginning of the subscription term up to three business days prior to the auction. The nominal minimum investment is 1000 eurosBut the money to be spent in the Bank of Spain is the previous deposit that was set before the auction,” he points to the treasury.

Options for obtaining public debt

You can buy treasury bonds from the Bank of Spain, on the treasury website, or through banks

Thus, for the purchase of bills, it will be necessary to deposit 101% in advance, that is, if a minimum value of 1000 € is purchased, then a deposit of 1010 € is required.

Moreover, retail investors have two other options for purchasing public debt. On the other hand, you can go to the website of treasure To carry out the transaction online (in the case of the Bank of Spain, it can only be done in person), although in this case an electronic certificate or electronic DNI must be provided. On the other hand, there is the option to buy through banks.

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Lower commissions

The cheapest options, however, are to go to the superintendent’s offices or do it through the treasury’s website, with commissions stipulated in advance. “The cash transfers in favor of the Bank of Spain were accrued at the commissions agreed upon by its Executive Committee. Since January 2, 2005, they have been repaired at 1.5 per thousandWith a minimum of 0.9 euros and a maximum of 200 euros on the amount to be transferred ”indicates the Treasury.

If the purchase is done through banks, the commissions are usually higher than doing it by either of the other two methods, at much higher percentages and this depends on each entity’s business policy for the purchases and sales of securities.

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