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Interest

New limit the interest rate on loan payroll will be voted on Tuesday

08/05/2012

This article was translated by an automatic translation system, and was therefore not reviewed by people.


 



SAO PAULO - The Economic Affairs Committee will vote on Tuesday (8), the bill 300/2005 which limits the interest rate on loans charged by up to five percentage points per year the Selic (Special System for Settlement and Custody).

The bill authored by Senator Paulo Paim (PT-RS), has received a favorable opinion of the rapporteur, Senator Luiz Henrique (PMDB-SC), the last committee meeting on April 24.

According to the Agency the Senate, the measure provides that fees charged on loans charged sheet to retirees by the General Social Security, icluindo rate credit facility does not exceed five percentage points per annum over the Selic rate or the rate that comes replace it

The bill deletes the limit of five percentage points over the base rate of the economy, tax increases, the interest and the costs associated with credit recovery.

Opinion of the rapporteur
In the opinion of Senator Luiz Henrique, the margin of five percentage points per annum on Selic is fair to compensate the banks for administrative costs and the risk of death of the pensioner and change the interest rate.

The rapporteur recognizes that prospta may in Acutely adverse situations, lead to decreased market payroll sheet to retirees. This is because of the possibility of significant variation of the basic interest rate of the economy by altering the opportunity cost of capital, affects the willingness of financial institutions to allocate resources to the line of credit loan payroll sheet to retirees.



Source: News Agency

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