Clipping of news on Brazilian Culture, Law and Citizenship
02/05/2016
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Withdrawals exceeded deposits at 12 billion reais, higher volume for any month in the time series of the BC, started in 1995
The amount of funds that investors withdrew savings in January, not considering the applications was the highest for any month in the time series of the Central Bank, which began in 1995. According to the institution, withdrawals exceeded deposits 12.03 billion reais.
Savings (safes)
For January, the worst mark had been registered last year, when withdrawals were 5.52 billion larger than actual investments. Already the strongest negative balance of all time so far was recorded in March 2015, 11.43 billion reais.
The result of last January was not only worse because the last day joined 3.41 billion reais in savings. By the 28th, the account was negative in 15.44 billion reais. This occurs with the seasonal increase in deposits in the book on the last day because of automatic application of the current account that some investors already leave scheduled to take place.
The sharp deterioration in the book takes place after a recovery in December last year, with the injection of the 13th salary payment resources. The positive balance of 4.78 billion reais in the last month of 2015 interrupted a series of eleven months of negative results. In other words, over the past year, but in December the net inflows exceeded withdrawals.
Taxes and school supplies - In addition to the worsening economic outlook and rising unemployment, January is a month marked by the concentration of payment of taxes and extra expenses with tuition and school supplies. The amount of spare resources for application in saving lost space to the financial needs that make Brazilian withdraw the application money. According to the Central Bank, total applications last month was 149.56 billion reais and the looting of 161.59 billion reais. The balance in this portfolio investment is 648.64 billion reais, considering the income of 4.08 billion reais in January.
Another point that weighs against the savings are there in the market more profitable investments, linked to the dollar and interest, for example, and that made the book lose their luster. The remuneration of savings accounts is comprised of a fixed rate of 0.5% per month plus the Reference Rate (TR) - This calculation applies to when the basic interest rate (Selic) is above 8.5% per year and is currently at 14.25% per annum.
Because of saving cash outflow seen since the beginning of the year, the real estate sector started to complain of lack of resources for financing of houses and apartments. To minimize this framework, the Central Bank decided to release the banks last year to use 22.5 billion reais of savings deposits that are required to maintain the institution for disbursements in housing and rural finance operations. More recently, these features were released to be also used in infrastructure investment.
(With ESP Content)
Source: See Online
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This article was translated by an automatic translation system, and was therefore not reviewed by people.