Management

President of the Central Bank, Ilan Goldfajn, detailed the four pillars of the actions envisaged by the institution

The president of the Central Bank, Ilan Goldfajn, detailed, on Tuesday (20), an agenda to increase the country's financial efficiency and reduce the cost of credit. The actions are based on four pillars: greater financial citizenship, more modern legislation, efficient financial system and cheaper credit.

To make the offer of credit cheaper in the country, the Central Bank plans to simplify the rules of the compulsory, stimulate good payers, with improvements in the positive register and make the use of credit cards cheaper.

On the use of the cards, part of the measures had already been announced by the President of the Republic, Michel Temer, last week. To stimulate competition, the machines will have to accept all the banners of cards until March 24, 2017, by determination of the BC. According to Goldfajn, a provisional measure that allows the practice of different prices according to the largest payment (money, credit or debt, for example) should be edited soon by the federal government.

On the compulsory deposit, Ilan Goldfajn said that the idea is to gradually reduce the operational complexity and to unify rates and deadlines. "They are not immediate actions in the sense of short-term impact, they are structural actions that can reduce the cost of credit," he said.

The Central Bank also wants to increase Brazilian financial education in partnership with other institutions, such as credit unions. "Inclusion is not enough. We have included millions of people in the financial system, but we want to provide these citizens with technical knowledge, "Goldfajn said.

The Central Bank will also seek to improve mechanisms for technical cooperation with the National Justice Council (CNJ) to resolve conflicts between citizens and financial institutions. Also on the agenda is  the simplification of regulation for financial institutions to smaller and the change in the law on administrative procedures.

Source: Portal Brazil, with the information Central Bank