BRZ FEB Payroll Loans Operations
On Apr. 30, BRZ FEB reported banks are ready to grant more loans.
- BRZ FEB reported that banks are now ready to grant more payroll loans, with a longer grace period of up to 4 months or 120 days for new and old loans per Law 14,131.
- Operationally Ready
- Have completed process of adapting institutions' internal operations to adapt to law.
- Law 14,131, which was enacted on Mar. 30, 2021, increases margin from 30 percent to 35 percent for payroll loans, and allows a grace period of up to 120 days.
- Payroll Loans
- Payroll-deductible loans have portfolio of R$446.7bn, according to BRZ CB Feb. data.
- The vast majority of this portfolio is concentrated on INSS retirees and pensioners' operations and with public servants, and has shown steady growth and drop in rates.
BRZ CB; BRZ FEB
||Bank; CU; Thrift
||Compliance; Operations; Risk
||Banking; Loan; Pensions; Seniors
|Reg. Last Update
Last substantive update on 05/03/2021