Savings applied in state certificates increased by 50% in July – publico

                 

                         
                     

                 

 
                         

The savings applied by the Portuguese in state certificates rose 50.4% in July, totaling 152 million euros, compared to 101 million in June, and with a clear preference for Treasury Certificates at the expense of savings certificates.

                     

The monthly growth of savings entrusted to the State rises 50.4% in July, although the value has little expression in cumulative terms: a change in the total balance of savings certificates and Treasury, which currently stands at 19,770 million euros , is only 0.7%.

The statistical bulletin of the Bank of Portugal published on Thursday, reveals that the subscriptions in Treasury Certificates Saving More, which currently offers an interest rate substantially High, attracted EUR 132 million. In June, the figure had grown by 90 million euros. The value of July back to beat the value of May, which had amounted to 127 million euros

In Savings Certificates, the change in the balance was for 20 million euros, including 15 million capitalization (interest and retention bonuses). Without this cap, new subscriptions are up for five million euros. In June, the net subscriptions had grown by one million euros.

The Monthly Bulletin of IGCP, the institute that manages public debt, also released Thursday, shows that Certificates of redemptions Savings amounted to in July, EUR 50 million, ie well above the amount of new subscriptions. In Treasury Certificates were also noted surveys, but only in the amount of four million euros.

With a current yield of 2.25% gross, down from 5% before the rate cut applied to February, the accumulated balance of Treasury Certificates amounting to seven billion euros.

The accumulated balance of savings certificates amounted to 12,716 million euros. This latest product offers a lower interest rate, influenced by the fall in Euribor, to which they are associated, is now below 1% (compared to 3% before the change to the beginning of the year).

Although the remuneration of state breakdown products, interest rates offered by bank deposits are still very low, without competing with the public debt products.