JUSTIÇA DE SÃO PAULO DETERMINA QUE O MUNICIPIO AUTORIZE A EXPEDIÇÃO DE NOTAS FISCAIS ELETRÔNICAS.
9 de fevereiro de 2024
Por que Rússia deve crescer mais do que todos os países desenvolvidos, apesar de guerra e sanções, segundo o FMI
18 de abril de 2024With the decision to allow Brazilian banks to make local issues with a minimum term of two years, this new funding option could account for as much as 15% of the financial industry’s funding by February 2011, the president of midsize banking association ABBC, Renato Oliva, told BNamericas.
Financial institutions received permission from national monetary council CMN to start the programs, which will be known as “Letras Financeiras” (LF), central bank BCB said in a statement on February 25.
The debt instrument, which was approved in executive measure MP 472, is limited to just credit-issuing financial institutions and will be fully tradable, the statement said.
The minimum amount of an issue will be 300,000 reais (US$170,000) and early redemption will not be allowed, BCB said, stating that the purpose of the measure was to allow medium to long-term liability management by banks.
The two big gains for banks are that they increase their access to local capital markets – an important point for banks with small branch networks – and the terms should reduce asset-liability mismatch, according to Oliva, who is also head of Banco Cacique.
“We’ll need to pay attention to future adjustments in the LFs to ensure that they’re able to trade well on secondary markets,” the ABBC head said.
BCB also announced its earnings for 2009, which totaled 5.61bn reais, down 58% from 2008. The central bank lost 940mn reais in the first half of the year, making up 6.55bn reais in the second half.