Logs should be killed
This article was translated by an automatic translation system, and was therefore not reviewed by people.
The government's decision to move the formula to return the books will harm 40 million savers across the country the measure to be discussed by President Lula with the economic team, aims to prevent the savings becomes more profitable for the funds investment. The government wants to prevent the migration of investors from one application to another. This is because the cash balances in the books should be reserved for housing projects, while the resources in funds finance the personal credit, business and public market of securities of the government itself. The goal, ultimately, is to ensure resources for the financing of the whole economy.
The steep reduction of the Selic to 12.75% to 11.25% a year (and there are projections of a fall to 9.25% by year's end), to contain the effects of financial crisis, is making such savings or more profitable that some funds, such as fixed income, - with rates of administration of 1% to 4%. One possibility would be to reduce the rates, but on Monday in New York, President Lula announced a meeting with economic team to find a solution that does not affect the small savers.
LOSSES AND GAINS
Experts say it is very difficult to happen. The savings will be less profitable. "For the government, to make applications more attractive to fixed income is crucial, because they are paid with public securities, and with the fall of Selic, will be difficult to pay the debt. In addition, funds are taxed, and savings, no, "explains
José Ronoel Piccin, President of the Board of Anefac. "Something must be done, as in 2007 and 2008, when the Selic fell, and the government changed the TR (Referential Rate)," recalls. For him, no housing finance will need, necessarily, be changed: "Rather, investors will come out of savings to funds that finance housing."
MINOR INTEREST
The president of the Brazilian Association of Financial Education, Edmilson Lira says savers lose and gain profitability in the economy. "Lines of credit for durable goods, real estate, personal credit and included a gain from low Selic and capture the lowest cost. The industry grows, the layoffs come, "he explains. "The annual savings is guaranteed by 6% and up to $ 60 thousand provided," recalls. Who is up to R $ 10 thousand in savings, according Lira should not migrate.
Selic less security and attract large and small
Saving is the preferred application of small investors - active and retired employees of the - that do not always want to return, but security, because they can not take risks. "They are the generation that has trauma of confiscation from the Collor government, and President Lula needs to be careful with this group," said Edmilson Lira.
The architect Joseane Machado, 47 years of savings left to fund four years ago. "I see my manager to make sure not at risk," he says, concerned with the financial crisis and bad memories of the period Collor.
"Before the crisis, sold shares without losing. I can not take risks. " Professor of Finance from Ibmec, Gilberto Braga remember that saving has become a strong competitor for attracting not only the traditional sparing, but the large investor. "The funds are fixed income securities purchasers of the debt, linked to the Selic. If the government lowers the Selic, requires losses to such application and pair them with the savings, "he says.
He says the impact on real estate financing will be positive: "There will be more resources for the sector. For those constructs is good because it captures the lower cost and offer more in funds for construction. For those who purchase, rates should also fall. "
WHO LOSES
The applicators in books of savings, with small or large balances, which will have less income from the changes already admitted by the government.
Who wins
The federal government, which has more favorable terms to pay the public securities of responsibility, traded in fixed income funds
Large investors, which could pressure the reduction in the rate of administration
Credit policy in general, because it increases their sources of funding
Big problem
If the income from savings is tied to the Selic, in future, the Central Bank will have problems if you need to increase the basic rate to contain inflation
Source: This Day Online
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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