Project proposes to facilitate loans and financing for companies and citizens

Among the main changes foreseen by the framework is the possibility for the citizen or company to use the same property as collateral in different credit operations, which is not allowed today. The bill also says that, as the borrower of the financing or loan pays the installments of that debt, there is room for more credit up to the limit established in the contract. The promise is that this can be done without additional bureaucracy.

Fayet says that, in addition to the positive impact that offering cheaper credit can bring to the economy, those who keep their bills up to date have a lot to gain. “This reinforces the role of the Positive Registry, because if the person pays their installments, this will create a history that is important for them to have a good image in the financial system. This, obviously, will generate a reduction in risk relative to that borrower or financing. Good payers will have very positive results”, he bets.

Authored by the Jair Bolsonaro government, the proposal aims to make it faster and cheaper for banks to recover guarantees provided for in loans and financing in cases of default. In addition, it decentralizes the management of guarantees to other financial agents and expands the possibilities for using these guarantees by consumers and companies. With this, it is expected that the costs for the financial sector will decrease and, consequently, the interest that is passed on to individuals and companies as well.

Federal deputy Júlio Cesar (PSD-PI) praises the proposal. “It is a revolutionary project. It has already been approved here in the Chamber, it went to the Senate and we are waiting for the Senate to be able to consider it this semester for presidential sanction, because in terms of financing the real estate sector, this here is the most innovative project that I have already seen it being processed in this House.”

guarantees

The bill creates the Guarantee Management Institutions (IGGs). As the name implies, they will be responsible for bridging the gap between banks and those wishing to take out credit. The IGGs will evaluate the guarantees given by people and companies, register them with a notary and execute the debt in case of default.

In the current model, banks and other institutions that offer credit also have to manage and enforce guarantees, which is not advantageous given the range of services they already offer, explains Fayet. The expectation is that the entry of the IGGs in the management of guarantees will release the banks for the credit offer itself. This is expected to help lower costs for the financial sector and therefore interest on loans and financing.

The text does not allow the IGGs to grant lines of credit. At the same time, it does not prevent banks and those who already offer credit from managing the guarantees, if they so wish.

The citizen or company that wants to contract the collateral management service may sign a formal agreement with the IGG, the collateral management contract. Already in the document it will be possible to know the maximum amount of credit that can be linked to the guarantees given by those who want the loan or financing. With this contract, the interested party will be able to go to different banks and institutions to evaluate the best conditions for obtaining credit.

“It will work like this: a certain amount or guarantee, will be evaluated by the IGG. This IGG will establish a possible value that will guarantee a loan and then the borrower goes there and takes that loan. Let’s assume that he has a total and uses the total of credit granted. From the moment he pays, space is opened for a new credit corresponding to that payment made”, explains the economist.

MARK OF GUARANTEES: PL can increase credit offer and lower interest rates