Overview
- The CNMC launched a sanctioning proceeding against six major banks after public statements by senior executives drew scrutiny for potentially enabling rivals to anticipate mortgage pricing.
- The investigation targets Banco Santander, BBVA, CaixaBank, Sabadell, Bankinter and Unicaja and cites possible breaches of Spain’s Law on the Defence of Competition and Article 101 of the EU treaty.
- The authority listed specific comments about not offering fixed‑rate mortgages below certain thresholds as indicia that firms could coordinate their commercial policies.
- Bank sources expressed surprise and said executives were answering journalists rather than seeking coordination, while banks point to rising Euríbor, Spanish yields and ECB policy as drivers of higher mortgage rates.
- The case, opened on Tuesday, June 16, 2026, starts a statutory investigation period of up to 24 months and could lead to fines or remedies if the CNMC finds anticompetitive conduct, a result that would affect mortgage prices for consumers.