untitled design

Chamber approves urgency for Marco das Garantias, which facilitates obtaining credit

The Chamber approved last Tuesday (17) a request for the Marco das Garantias bill to be processed urgently. In this way, the proposal does not need to go through the committees and can go directly to vote in the plenary of the House.

The PL, the party of President Jair Bolsonaro, and the Ministry of Economy have mobilized to advance the project, which facilitates the granting of credit in the country.

The proposal has the support of the president of the Chamber, Arthur Lira (Progressistas-AL).

One of the government’s legislative priorities, Marco das Garantias is a project authored by the Executive and gains strength at a time when obtaining credit in an easy way can be used in the campaign for Bolsonaro’s reelection.

The text was written by the now Minister of Mines and Energy, Adolfo Sachsida, when he was part of the team of the Minister of Economy, Paulo Guedes.

On Tuesday of last week, May 10, the day before taking over the ministry from Admiral Bento Albuquerque, Sachsida discussed the proposal at a luncheon held by the Parliamentary Entrepreneurship Front.

The Central Bank must supervise the credit operations authorized by the project, while the National Monetary Council (CMN) must be responsible for the regulation.

Operationalization will be the responsibility of the Guarantee Management Institutions (IGGs), private entities provided for in the proposal.

Details

The proposal allows the use of a property as collateral in different financing operations, which is not currently possible.

With IGGs, if a person buys a car or a house, for example, in fiduciary alienation, he can use this asset as collateral in other financial operations, except when there is a default.

Currently, in cases like this, the individual does not own the asset until the loan is paid off.

As the borrower honors payments, he may also take out more credit.

The Ministry of Economy argues that the new rules should reduce financing costs and interest, in addition to increasing competition in the sector.

“A facility of this proposed model lies in its dynamics. Once the borrower pays its debts with the creditor financial institutions, it will automatically open, in the amount paid off, space for contracting new credit, within the contractual limits agreed with IGG”, says an excerpt from the project, which also ends the monopoly of Caixa Econômica Federal in operations on civil liens.

This measure, however, faces resistance from the left opposition.

Source: CNN Brasil

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular