Clipping of news on Brazilian Culture, Law and Citizenship
01/08/2015
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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The Central Bank (BC) reported today (7) Brazilian deposited R$ 24.033 billion more than withdrawn from savings accounts in 2014. The uptake of savings fell 66.17% compared to the balance of 2013, when closed year at R$ 71.047 billion. The funding is the lowest since the R$ 14.186 billion recorded in 2011.
In December, the savings was positive at R$ 5.428 billion, compared to R$ 11.201 billion in the same period of 2013. Although positive, the value is also the lowest for December since 2011. Last month, the deposits in book totaled R$ 179.3 billion, while withdrawals amounted to R$ 173.8 billion.
The total amount in the accounts was R$ 662.7 billion in December. The volume of income credited to investors' books reached R$ 3.57 billion. The stock of savings accounts, R$ 522.3 billion belong to the Brazilian System of Savings and Loans and R$ 140.3 billion to rural savings.
The current rule, when the Selic rate is greater than 8.5% per year, the savings yields 0.5% per month (6.17%) plus the Reference Rate (TR), which is variable. This formula has been in place since August last year, when the Selic was adjusted to 9% per year. When the basic interest rates are at or below 8.5% per year, the book yields 70% more of the TR Selic rate.
The formula only applies to the money deposited in savings from 4 May 2012. For the previous deposits, income follows the old rule, of 0.5% per month plus TR. Other rights of those who apply the book were kept, as exemption from administration and tax rate.
Source: Agency Brazil
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This article was translated by an automatic translation system, and was therefore not reviewed by people.