Bank interest of individuals now back at pre-crisis
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Interest rates charged by banks in their credit operations for individuals already back in February this year, the levels recorded in September 2008, ie before the deterioration of international financial crisis, according to data released show this Thursday Monday (26) by the Central Bank.
The crisis worsened in mid September with the announcement of the bankruptcy of investment bank Lehman Brothers North American, but their impacts on the Brazilian economy began to be felt from October onwards.
According to figures from the BC, the average interest rate of banks in their transactions with individuals declined from 55.1% in January, 52.1% for the year in February this year. In early March, to fall again, now to 51.5% per year. In September last year, the average rate was 53.1% per year. In October 2008, has progressed to 54.8% a year, rising to 58% a year in November and December last year.
"There was a pronounced reduction in interest mainly for families, for the special and personal credit check. Procedures whose rates are quite back to levels before the crisis. The interest of legal persons also have rates of decline, but not so pronounced, due to spreads of [difference between the cost of borrowing for banks and their customers in charge], "reported the head of BC's Economic Department, Altamir Lopes.
Main lines of credit to individuals
The same with the rates of the main lines of credit from banks to individuals. In the special case of the check, which in January this year somou 172% and interrupted a trend of twelve months of increases, the rate declined to 166.7% a year in February.
The average rate of the special check in February this year, according to Central Bank, is the lowest since August last year, when it was 166.4% in the year. Even with the fall in the last two months, the rate of special check still much higher than other forms of credit.
"The check was always a special arrangement with higher interest rates and remains very high. But reached very high levels and is returning to the level before the crisis. We arrived at a rate pre-crisis, but is very high," hesaid Altamir Lopes of BC.
If the rate charged by banks to individuals for personal credit, the rate fell from 56.5% a year in January this year to 54.5% a year in February. It is the lowest since July 2008, informed the BC, ie also before the worsening of the international financial crisis.
For the purchase of vehicles by individuals, the average interest rate charged by banks declined from 34.7% a year in January to 31.8% per annum in February 2009. The monetary authority, is the lowest since June last year.
General rate and companies
If the rate of individuals has declined to levels registered before September 2008, when the worsening international financial crisis, this is not the case with the overall average rate of banks and businesses.
In February this year, the average of banks of all their credit operations with free resources fell to 41.3% a year, against 42.4% a year in January 2009. In September last year, was 40.4% per year.
For the average interest rate charged by banks for enterprises, the rate rose from 31% a year in January to 30.8% a year in February 2009. In September 2008, was 28.3% per year.
Source: G1
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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