As duplicate They are old assets dating from the late 1960s, and are receivable of time sales used in companies financing. Although not new, in B3 they are inserted in long -term strategic goals and has the potential to be the largest product in the segment of fixed income in the near future.
In November last year, the Banco Central Approved rules for negotiating duplicates, with electronic system registration. The standards come to remedy the lack of a centralized record of these securities, which may even crop credit operations.
But the risks of fraud had been inhibiting the use of this instrument by banks. In a universe of more than $ 10 trillion that duplicates move per year in Brazil, only 10% saw ballast for loans.
“With this record, we have validation processes of these assets more safely, avoiding duplications, administrative risks and fraud,” said Viviane Basso, vice president of B3’s broadcasters, at an event for companies on the subject.
The meeting was, precisely, to show potential broadcasters what changes with the new duplicate standard and the potential to expand credit supply to small and medium enterprises.
The Scholarship administrator is one of the entities that seek qualification from the BC to register the so -called structural duplicates and wants to take advantage of regulatory advances, amid a scenario of high interest rates, to boost their participation in this segment.
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In fact, not only as a register of duplicates, but also offering products and services related to the instrument, taking advantage of the data technology of which it has.
“Credit will still be a super important route to explore and companies have the option to finance themselves based on the receivables it has for short -term cash flow,” said Humberto Costa, product director at B3. “Duplicate is a very important credit support mechanism for the market as a whole and we think the norm will unlock opportunities.”
Costa believes that with the changes, it will be easier to insert the duplicates into the capital market ecosystem. “Maybe we will not be able to pack these duplicates in a debenture, for example, and put them for negotiation in the secondary market, reaching individuals and other audiences that cannot access them,” he said.
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After publication of the Central Bank rules, companies interested in registering the bookkeeping duplicates need to prepare and deliver technical manuals. Once the BC approves the full operation of at least two registrars, companies will have adapted to the new rules. Companies with revenues greater than R $ 300 million will be the first to join the new rule.
