Clipping of news on Brazilian Culture, Law and Citizenship
11.12.2015
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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An increase of nearly 10 percentage points, fee for card transactions reached 378.76% in the year
Interest rates for credit card transactions were again high in November, almost 10 percentage points and reached 378.76% in the year. This is the eleventh consecutive increase in 2015, according to the study said the National Association of Executives in Finance, Administration and Accounting (Anefac).
Scenario of rising defaults among conumidores confirms the increase in interest rates
The rate, which was 368.27% in October, contributes to the overall rate of loans to individuals to be the biggest in six years. The overall average rate jumped this month of 132.91% to 136.32% per annum, surpassing the record rate of February 2009.
The six surveyed lines of credit, all had their high interest rates in the month (of trade interest, revolving credit cards, overdraft, CDC-banks-vehicle financing, personal-loan banks and personal-financial loan).
Overdraft
The overdraft, the 233.56% annual interest reached a higher level than that observed only in September 1999, when they were of 241.98%. In the previous month, the rate was 226.39%.
Outlook for 2016
Given the current economic environment that increases the risk of rising default rates the trend is that credit operations interest rates again to be high in the coming months.
Source: Economic Brazil
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This article was translated by an automatic translation system, and was therefore not reviewed by people.