The BOE publishes the Bank of Spain's collective agreement with new salary increases

The Official State Gazette publishes this Monday, September 21, 2026, the Collective Agreement of the Bank of Spain for the years 2025 and 2026, registered by the General Directorate of Labor of the Ministry of Labor and Social Economy via resolution dated September 10, 2026 (BOE-A-2026-19603). The text was signed on June 19, 2026, by the designees of the Executive Commission of the Bank of Spain and the National Company Committee, and corrected on September 7, 2026. It establishes the salary and labor conditions for the banking supervisor’s staff until December 31, 2026.

The resolution, signed by the Director General of Labor, María Nieves González García, orders the registration of the agreement in the Registry of collective agreements, collective labor agreements, and equality plans, with notification to the Negotiating Commission, and provides for its publication in the BOE. The agreement is identified by code no. 90000622011981 and is published in Sec. III (Other provisions), page 124431, of issue number 233.

Its scope is company-wide and is limited to the functions of the Bank of Spain as a central bank integrated into the European System of Central Banks and the single supervisory and resolution mechanisms. It applies to personnel with an employment relationship subject to the Labor Regulations of the Bank of Spain (RTBE), in the central offices in Madrid and in the branches, and excludes those performing governance functions—governor, deputy governor, general directors, deputy general directors, and secretary general—personnel hired through contracts for works or services, and public civil servants. Its validity spans from 2025 to 2026, effective from January 1, 2025, with an annual tacit extension unless there is an express notice of termination.

Salary Increases and Promotions

Remuneration increases by 2.5% in 2025 compared to those in effect on December 31, 2024, in application of Royal Decree-Law 14/2025, of December 2, effective from January 1, 2025. This increase, including back pay, was already paid as an advance in the February 2026 payroll and is now consolidated.

For 2026, the increase is 1.5% compared to the remuneration on December 31, 2025, effective from January 1, 2026, and will be paid in the first possible payroll after the signing of the agreement. An additional and consolidatable increase of 0.5% is also foreseen if the 2026 CPI variation reaches or exceeds 1.5%, payable in the first quarter of 2027. For 2027, the bank will pay as an advance the increase established by the General State Budget Law.

Regarding professional promotion, a 10% vertical promotion rate is agreed upon for 2025 and another 10% for 2026, with economic effects from January 1, 2026, and January 1, 2027, respectively. An additional special promotion is added:

• 25 positions for levels 2 to 7 of the diverse activities group, 1 to 5 of the administrative group, and 11 to 14 of the management group.
• 7 people from the management group in levels 5 to 10, upon proposal by their general management.
• Requirements: fifteen years without promotion as of December 31, 2025, and a performance evaluation score equal to or greater than 3.5.
• Call for applications in the second half of 2026 and economic effects from January 1, 2026.

Flexible schedule, teleworking, and supplements

The new general and flexible schedule comes into effect on July 1, 2026, and allows up to two free afternoons per week for 38-hour workdays and up to three for 35-hour workdays. A maximum of nine hours of effective daily work and a minimum of five are established, with entry from 7:00 and exit until 20:00, and mandatory overlap between 10:00 and 13:00.

The teleworking compensation is set at 2.17 gross euros per day for a full day of remote work, with a minimum of 30% of the workday over a three-month reference period. The agreed supplements include:

• Cash handling supplement: 75.42 gross euros per month.
• Management career supplement: from 8,000 euros (department head) to 4,000 euros (unit manager).
• Special destination supplement: 916.81 euros annually at SEPBLAC and IMBISA, and 660 euros annually at branches.

Loans, partial retirement, and equality

Regarding housing, a third tier of loans is created with a maximum capital of up to 300,000 euros, at an annual rate of 7% and tiered bonuses, the implementation of which is set for January 2027. A social loan of up to 50,000 euros is also regulated, to be amortized over a maximum of thirteen years with an annual interest rate of 0.50%.

The agreement ratifies the accord with the National Works Council of September 18, 2025, regarding deferred partial retirement, which recognizes the right of access for those who meet the legal requirements and adapts the death and retirement benefit, the collective life insurance, and burial expenses. Likewise, it ratifies the LGBTI Plan and the protocol against harassment based on sexual orientation, sexual identity, and gender expression, agreed upon on May 8, 2025, and incorporates improvements in the Pension Plan for personnel with reduced working hours for the care of a child or relative, with retroactive effects from July 2, 2022.

The text repeals numerous articles of the RTBE and previous internal agreements, creates a Joint Interpretive Commission with mediation and arbitration procedures, and plans to compile the current conventional regulations into a single text to be published internally in the first quarter of 2027.

The publication closes the negotiations for the 2025-2026 period at the central bank and directly affects the supervisor’s staff, with consolidated raises, a new schedule framework, and improvements in loans, promotion, and work-life balance. The text reaches the BOE nearly a year after its economic effects began, which explains why some of the back pay has already been settled and why the agreement begins with several articles having deferred entry into force.

Source: Official State Gazette, no. 233, September 21, 2026, Sec. III (Other provisions), page 124431 (official reference: BOE-A-2026-19603).