Banks offer negative spreads to local authorities, including Caixa

There are banks offering negative "spreads" on loans to local authorities, including Caixa Geral de Depósitos, Público reported this Tuesday .

When confronted in Parliament, Paulo Macedo, president of Caixa Geral de Depósitos, considered it "strange" that the bank he leads had proposed a slightly negative spread (-0.01%) to Viana do Castelo City Council.

The information was confirmed by Público , which explains that eight banks exempted the operation from commissions. Millenium BCP, Caixa de Crédito Agrícola and Banco Montepio also presented a zero spread. Novo Banco proposed 0.7%.

Caixa was the only one that advanced to a negative value, managing the operation for a loan of 6 million euros with a duration of one year, according to Chega deputy Eduardo Teixeira, who is also a councilor at the Viana do Castelo City Council, and who raised the issue in Parliament.

Público reports that, in other cases, such as in Braga, CGD also presented negative values ​​(-0.01%) but was overtaken by Banco Montepio (-0.03%).