O total credit stock in the country rose 1.6% in June, totaling R$ 4.956 trillion. The value is equivalent to 53.9% of the Gross Domestic Product (GDP). In May, the balance was R$ 4.876 trillion.
The numbers are from the Credit Monetary Note, released by the Central Bank this Monday (29). The June data would originally be released at the end of the following month, but the disclosures are still delayed, even almost two months after the end of the strike by Central Bank servers.
The document shows that average interest rate stood at 28.1% per year in June, the first increase after a month of stability . As of June 2021, it was at 20%.
When considering only the free credit —where rates are freely agreed between banks and borrowers—, interest rates rose 1 point in the month, to 39%. In earmarked resources, which meet the parameters established by the government, there was a decrease of 0.1 point, to 10.7%.
After falling in May, the number of credit concessions rose to R$ 24 billion in June, an increase of 4.9% compared to the previous month.
THE delinquency in the free resources segment —which considers delays greater than 90 days—, remained stable at 3.6% in June compared to May. The indicator started the year at 3.3%, rose to 3.5% in April and 3.6% in May.
The banking spread in the same segment rose to 26.5 percentage points, up from 25.9 points in the previous month.
the institution also released today with delay the data of May when the total stock of credit grew 1.1% in relation to April, at a level equivalent to 53.7% of GDP.
Card revolving interest rises in June
The average total interest charged by banks on credit card revolving credit cards rose 1.6 percentage points from May to June, from 368.8% to 370.4% per year. The move reflects the Selic bullish cycle.
The interest on installments on the card rose from 172.7% to 173.2% per year. Considering the total interest on the credit card, which takes into account revolving and installment operations, the rate went from 76.6% to 78.7%.
In April 2017, the rule that obliges banks to transfer, after one month, the debt from the credit card revolving to the installment plan, at lower interest rates, began to apply.
The government’s intention with the new rule was to allow the interest rate for the revolving credit card to decline, since the risk of default, in theory, drops with the migration to installments.
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Source: CNN Brasil
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