Collegiate promoted changes in the annual ceiling for states and municipalities; also changed receivables discount transactions
O CMN (National Monetary Council) approved this Thursday (24.Aug.2023) changes to the annual limit for contracting credit operations in 2023 for states and municipalities for up to R$ 12 billion. According to the collegiate, R$ 9 billion will be for operations guaranteed by the Union and R$ 3 billion for operations without guarantee.
The justification given is that the measure was taken “due to the significantly lower cost of these operations for subnational entities, as well as the new guarantee instruments for Public Private Partnerships offered by the National Treasury”. The resolution takes effect on September 1.
According to the CMN, the decision is “aligned with primary result projections” for states and municipalities within the LDO (Budget Guidelines Law) of 2023.
fat
The CMN also approved a resolution that establishes the eligibility criteria for financing operations for innovation and digitalization with resources from the FAT (Worker Support Fund) transferred to the BNDES (National Bank for Economic and Social Development).
Among the points are investments in RD&I (Research, Development and Innovation) aligned with the CNDI (National Council for Industrial Development). Here are the points:
- sustainable and digital agro-industrial chains for food, nutrition and energy security;
- resilient health industrial economic complex to reduce SUS vulnerabilities and expand access to health;
- sustainable infrastructure, sanitation, housing and mobility for productive integration and well-being in cities;
- digital transformation of the industry to increase productivity;
- bioeconomy, decarbonisation, and energy transition and security to secure resources for future generations; It is
- technologies of interest to national sovereignty and defense.
There was a recent change in legislation that defined that up to 1.5% of the FAT resources transferred to the BNDES can be remunerated by the TR as long as they are directed to financing operations for innovation and digitization supported by the state development bank.
RECEIVABLES OPERATIONS
The CMN also changed the resolution 4,815, of May 4, 2020, responsible for disciplining commercial and credit receivables discount operations (financial assets related to term sales) assured by financial institutions. Here’s the full (27 KB).
The biggest changes relate to these points:
- the provision of economic rationality in contracts to be signed with borrowers to increase companies’ cash liquidity; It is
- the provision for a contestation procedure, to be implemented by financial institutions, with a response time of up to 3 business days.
WRITTEN DUPLICATES
On the 3rd (22.Aug), the BC (Central Bank) approved a resolution (full – 71 KB) on the issuance, registration, centralized deposit and negotiation of book-entry (electronic) bills.
The monetary authority claims that the measure “promotes several improvements in the current regulation”. Among the highlighted measures are:
- the establishment of a new system for the settlement of book-entry bills, alongside the two modalities previously provided for, giving more functionality to the new form of negotiation, when in force; It is
- the discipline of general aspects of fee collection by bookkeepers, registration systems and central depositories.
According to BC, one of the objectives is to encourage “competition between financial market infrastructures and between lenders in this segment of the credit market”.
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