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Public debt market

Public debt market

The Law of Autonomy of the Banco de España establishes that the Bank will provide financial services for government debt, under the terms agreed with the Treasury and the regional governments that request it, contributing its technical resources to support the issuing and redeeming of government debt and managing it in general.

It also prohibits direct purchase from issuers of government debt; the Banco de España may only purchase government securities in secondary markets for the purpose of performing its monetary policy functions.

As of 1 April 2003, under Law 44/2002 on Financial System Reform Measures, the registration, clearing and settlement of book-entry government debt transactions has been assumed by IBERCLEAR.

This section includes the entities that participate in the government debt market, the technical applications that regulate it, the notices of debt issuance, redemption or management and the daily market bulletin.