unusual rise interest State’s last year’s Treasury bill payment families This is allocated to short-term public debt securities. 18.523 million euro at closing JulyAs published by the Bank of Spain this Friday. About this subject highest number since the statistics started in 2002It corresponds to only 25 million in the same month of 2022 and 1.914 million increase 11.5% compared to euro and June. Thus, it accelerated for the first time since January. monthly increase letters in the hands of families accelerated.
There are decisions made behind all this. European Central Bank (ECB) Trying to break the inflation spiral. The euro zone’s monetary authority raised its main interest rate from 0% to 4.5% from July 2022. deposit facility – Interest paid on money held in banks, more relevant In the current context – it went from -0.5% (I returned less than I kept for them) at 4%. This triggered interest in bonds: In its auctions in July last year, the Treasury promised to pay between -0.198% for three months and 0.702% for one year, while the same settlements last July were among these types. 3.531% and 3.804%.
The increase in household bond investments also contributed to banks’ resistance to increasing term deposit rates despite the increase in official interest rates. Average interest new depositThus, it increased from 0.15% in July 2022 to 0.15%. 2.33% Last July this level was still below par and also well below average. euro area (2.83%). Moreover, 90.5% of the money 80 percent of people with deposits in banks are in paid current accounts. at 0.12%. This is despite the fact that savings in term deposits increased (27,044 million and 40% compared to July last year). 93.504 million), families’ total banking balance (accounts plus deposits) decreased by 11,400 million and 1.1% 988.457 million.
largest creditors
All these households first Spanish owner of letters The Treasury is ahead of the banks for the first time since the data became available, its advantage growing. So in July families 26.08% of 71,018 million A year ago, they only had 0.03% of these securities in circulation, although they only had about 0.03 euros of them in circulation. They are ahead banks (15.07%), companies (9.1%), mutual funds (7.5%), public administrations (4.8%), insurers (3.4%), pension funds (1.9%) and Bank of Spain (0.4%). Only their owners can surpass them as a whole. foreignIn any case, they are reducing their investments (by 55.5% to 23,675) and therefore their weight (from 60.9% to 30.1% in June 2022).
The latest bond auctions point to stability in both the interest paid and the demand for such securities, in line with the last tranche of the ECB’s interest rate hikes. The state continues to pay anyway. high interest for paying your debt. Interest rates on securities issued through auctions held by the Treasury in August are moving around their levels. Highest level since July 2012The eurozone is in the middle of a debt crisis and Spain is about to be bailed out by the EU. As it was then, yes, it is not a country-specific rise. The interest they pay all European countries The increases occurred as the ECB increased interest rates.
Regarding Treasury debts with a maturity of more than one year (e.g. bonds and bills), households closed the month of July as follows: 1.892 million The amount of euros invested in these securities is 949 million and is 100% more than a year ago, but 30 million less than in June. Investing in debt autonomous communities also increased in twelve months, but much more modestly: passed 52 to 71 million euro. Likewise, the value of individuals’ investments in companies mountain goat 35 1.32% increase in July compared to June and 20% increase compared to July 2022 87.896 million euro. Under the same conditions, the number of selective ones increased less (0.5% and 18.2%), which means that citizens increased their investments in these companies by 719 and 1,377 million euros, respectively.