In the monetary policy report, the authority points out that free credit concessions to families – with resources negotiated with the market – retreated in recent months, impacted by and for new operations of the consignment of INSS (National Institute of Social Security).
According to BCthere was a sharp drop in payroll credit concessions for retirees and pensioners of the INSS In the last three months. Following the discovery of fraud in the payroll of beneficiaries, the body for unlocking to hire new loans.
“The requirement of biometric authentication for new operations, since May, has decreased daily concession at first, at first. From there, the volume of new operations has risen again, but is still at reduced level,” says the BC report.
In the evaluation of the monetary authority, the SELIC at 15% A year has also influenced credit concessions to individuals. Is the highest level for the basic interest rate since 2006.
Despite the scenario, the BC signaled that the ones, which had registered higher volume in April and retreated in the following two months, showed strong growth after the end of the requirement to allocate the credit operation resources for the settlement of previous debts. The Worker Credit Program was launched by the government in March.
According to the Ministry of Labor and Employment, the average interest rate of payroll loans through the program retreated to 2,62% on September 4th. On the 1st day of the program, March 21, the average rate charged by financial institutions was 3,48%.
Companies
Free credit to companies, concessions of short -term modalities decreased in June and July, impacted by IOF increase (Tax on Financial Operations). According to the BC report, discount concessions of duplicates and receivables retreated 15% in the quarter ended in July, with the changes in taxation on “DREAST RISK”.
“These operations should recover in the next readings, as in mid -July the” draweed risk “became exempt from the tax,” the document says.
The report points out that companies have increased the hiring of export financing lines, which are exempt, as an alternative to. The BC also found increased financing in the domestic capital market, expanding debt securities emissions.
Monetary and credit statistics
In July, the balance of SFN (National Financial System) credit operations recorded monthly expansion of 0,4%… According to the BC, the result resulted from the increase of 0.6% in the credit destined to families (R $ 4.2 trillion), which was attenuated by the contraction of 0.1% in credit to companies, which totaled R $ 2.5 trillion in the month.
The balance of free resources credit operations, ie, with resources negotiated with the market, reached R $ 3.9 trillion in July. It is an advance of 0,2% in the month and an increase in 9,4% in 12 months.
Free credit for companies added R $ 1.6 trillion in July, with monthly retraction of 1%influenced by reductions in duplicate and other receivables discount portfolios (-9.3%) and total working capital (-0.6%). Already free credit to individuals totaled R $ 2.3 trillionhigh of 1% in the month.
