With reference to a number of news agencies that have issued the following news: "State securities: three-month BOT net interest is negative," MEF points out that last October, through a Decree issued by the Ministry for the Economy and Finance, action was taken to revise the rules governing the transparency of state bond issue operations with a view to ensuring that interests of BOTs purchased at auctions are not negative.
In fact, as already announced last October, should the total price of the sale - including tax and the sum due as a commission for the financial brokers acting on behalf of the clients who subscribe the bonds that are being auctioned - is above 100, the maximum amount due as a subscription commission will be consequently reduced.
The amendment had become necessary with a view to protecting savers in the present market situation where especially short-term securities have been characterised by particularly low interests rates.