State launches Savings Certificates Issue 26 under new NTMA rules

The National Treasury Management Agency (NTMA) has made the Savings Certificates (Issue 26) Rules 2026, the statutory instrument that sets the terms of the new State savings product for retail savers. The Rules were published as S.I. No. 441 of 2026 in Iris Oifigiúil (Number 69) of Friday, 28 August 2026.

The instrument is the latest in the long-running series of State savings certificates, which the NTMA issues as part of its funding programme to raise money for the Exchequer from households rather than from wholesale markets.

Legal basis

The NTMA made the Rules in exercise of the powers conferred on it by the National Treasury Management Agency Act, 1990 (No. 18 of 1990) and the National Treasury Management Agency Act, 1990 (Delegation of and Declaration as to Functions) Order, 1990 (S.I. No. 277 of 1990). The Rules were also made pursuant to section 30 of the Finance Act, 1940 (No. 14 of 1940) and other legislation.

The legal framework means the new issue sits within the same statutory architecture as previous savings certificate issues, with the NTMA acting as the issuing authority on behalf of the State.

What the instrument does

The Rules formally establish the terms and conditions governing Issue 26 of the savings certificates. As with earlier issues, the product is aimed at retail savers seeking a State-guaranteed, fixed-term savings vehicle.

• The instrument is titled Savings Certificates (Issue 26) Rules 2026.
• It is cited as S.I. No. 441 of 2026.
• Copies are available from Government Publications, Mountshannon Road, Kilmainham, Dublin, D08 XA06.
• The published price of the instrument is €6.50.

Availability

The full text of the Rules is available for purchase from Government Publications (phone 046 942 3100; email publications@opw.ie). The gazette entry does not reproduce the detailed terms of the issue, such as the interest rate or maturity period, which are contained in the Rules themselves.

For retail savers, the launch of Issue 26 renews access to a State-backed savings product that competes with bank deposits, while for the NTMA it supports the diversification of the State’s funding base through household savings. The publication in Iris Oifigiúil gives the new issue its formal legal effect and marks the point from which the product can be offered to the public.

Source: Iris Oifigiúil, Number 69, 28 August 2026, regulations (official reference: S.I. No. 441 of 2026).