2023-10-11 00:12:49
Wednesday, October 11, 2023, 00:12
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After the slight slowdown experienced by the profitability of short-term debt during the summer, Treasury Bills are once again awakening the interest of small savers. In the last auction, held on the 3rd, the agency dependent on the Ministry of Economy paid a marginal interest of 3.876% for its 12-month bills and 3.80% for three-month bills.
With Tuesday’s data, according to the calculation tool offered by the Bank of Spain itself, if we had wanted to invest 1,000 euros (which is the minimum possible) in twelve-month Letras we would have obtained a gross return of 37.58 euros. It is important to clarify that in this type of operation, buyers do not indicate the price at which they wish to purchase the Letters. What they do is accept the weighted average price that results from the auction. Thus, given that the final price of each title was 962.42 euros, we would have invested exactly that amount (although we would have had to make a deposit of 1,000 euros and they would return us a surplus of 37.58 euros) and after a year , on October 4, 2024, we would receive 998.50 euros. For the operation we should pay a commission of 1.50 euros.
If, on the other hand, we had preferred the six-month Letters, the investment would have amounted to 980.33 euros (the price reached by each security), so the surplus would have been 19.67 euros. The profitability would have been 18.17 euros (we would receive 998.50 euros after half a year) and the expenses for the operation would also be 1.50 euros.
How to participate in the next auction?
The next auction of Letters (in this case for three and nine months) will be on the 17th. As always, the minimum amount of each request is 1,000 euros, requests for a higher amount must be multiples of that amount and a 101% deposit (if we invest 1,000 euros we must contribute 1,010). We can participate in it in the following ways:
– Going directly to the offices of the Bank of Spain. The one in Bilbao is at number 10 Gran Vía, but you must make an appointment in advance. In this case, the last day to make requests will be the 16th. The commission is 1.5 per thousand, with a minimum of 0.9 euros and a maximum of 200 euros on the amount to be transferred.
– Through the Treasury website, which could collapse again and which in any case requires a digital certificate, permanent cl@ve or electronic DNI. Through this channel, requests must be formalized one week in advance. As in branches, the commission is 1.5 per thousand, with a minimum of 0.9 euros and a maximum of 200 euros on the amount to be transferred.
– Ask our bank to make the purchase on our behalf, which will charge us a commission for the operation.
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