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Declaring that "banks will not lower interest rates alone", Octavio de Lazari, president of Bradesco, echoed Febraban's (banking federation) explanations on the high rates practiced by the consumers of the country
In a 164-page book, the entity lists its explanations for high interest rates and suggests possible solutions to lower them.
Only one of the 21 measures is under the control of the banks, and partially. This is the adoption of the loan with interest to reduce the use of interest-free installments. According to the banks, there is a cross subsidy in the sector that raises interest rates.
Among the demands include measures that would reduce tax collection, simpler rules for the review and recovery of credit and the freedom to charge (19659003) The offensive is to try to unblock regulations likely to reduce bank costs without affecting results. Large institutions offer their shareholders a return on equity (ROE) of around 20%.
"To keep the ROE, the banks will not make mea culpa and will not give up the current result any longer." The spread is the gross income of a bank, the difference between the cost of raising funds and the interest charged on a loan made to a client.
In the banking system, the average rate is 24.6% per annum and the financing cost is 6.6%. The gap is therefore 18%, according to data from the Central Bank for October.
Last year, the recipient country calculated the splitting of the gap and considered that the net interest income was less than 10%. [O livro] It is almost justified to justify for the population that, in the distribution of pizzas of the propagation, one must not only pay the price [banco]. Part comes from instruments on which the government must act. But, of course, banks also have their share. Lazzari said Friday (14) that it was only a small part of the banks and that these were reducing their expenses, "said Michael Viriato, finance professor to Insper.
in the making. "What we can do alone is very little. We can reduce interest rates, and they are reducing them. "
Beyond the financial margins, banks are also responsible for administrative costs and delinquency, according to experts.
Costs are starting to be reduced as banks close agencies and digitize processes. However, the pace is slow and increases the comparison with fintechs (companies offering innovative financial services).
"Fintechs are already born of digital. What do banks do? Discount Agency, trying to have a lighter administrative structure. And in theory, their spread also begins to decline, "says Claudio Gallina, director of financial institutions Fitch.
Banks say that the spread problem is not related to the lack of competition, but the Central Bank has been trying to encourage new institutions to come in with new rules for smaller institutions.
"Why does Febraban begin to act now?" We live in Brazil with more competition, "said Rafael Pereira, president of ABCD (Brazilian Association of Digital Credit), which groups together credit fintechs.
The four largest banks (Banco do Brasil, Itaú, Bradesco and Caixa) account for nearly 80% of all loans in the country, according to British Columbia
they also absorb the largest number of bad debts.Serasa says 60 million Brazilians are dirty and 30% of debts are in bank and with cards.
Banks attribute part of the failure to the absence of positive register, a database of consumers with account records.
Febraban document also asks for the 39; formal authorization to process other information, such as government labor market data and the Internal Revenue Service. Fintechs are currently accessing this information
But banks still require access to state tax bill statements. With this, they would know not only where the potential customer made a purchase, but also what he bought.
"I think that, more than the question of secrecy, we discuss the objective," says lawyer Larissa Arruy. , a member of Mattos Filho's office.
It recalls that the Data Protection Act provides that the use of personal information depends on the consent and the legitimate reason for the collection. "What we will still have in court is a legitimate reason and surpbades it," he says.
Pereira, ABCD, says that badessing credit risk is part of the bank's job and that the flaws reflect inefficiency. "I think delinquency is a consequence [do juro alto] not a cause."
Experts say, however, that many of the reported problems are legitimate, such as higher court fees and profits tax than those charged to other companies. 19659003] The most repeated point has been the collection of IOF on lending transactions, which does not compensate for the gap, but increases the final cost of the loan.
The metaphor is simple: the customer requests R $ 1,000 but receives R $ 950.
This tax was created to punish short-term investments in times of hyperinflation, but it became a levy – it generated only in October 3 billion RB generated by this tax, which also covers insurance, investment and foreign exchange transactions
It is also recognized that banks tend to face new convictions in the labor courts. "It's not that there are only good guys on the banks side and bad ones on the workers' side, but there's a predisposition to condemn because there's somebody there." 39 "money," says lawyer Domingos Fortunato. , a member of Mattos Filho's work sector.
To the question, the Union Bancaire de São Paulo did not answer the question on legal actions. However, he indicated that most of the measures would only serve to increase the profit margins of the sector.
Febraban launched a media campaign on the book "How to make sure that the interest drops in Brazil". The copy is available on the Internet.
Banks' Suggestions Regarding Falling Interest Rates
1) Positive Register
A congressional project wants to make automatic consumer registration in the register of good payers. Currently, only the Debtors Register is mandatory
2) Expand Access to Income Information
Banks want to obtain legal permission to use public data on work and income, as well as information on tax programs implemented by the state to badess borrowers. of credit
– Fintech already uses work data and revenue. Access to billing data would give banks detailed information on what each consumer buys, where and how much he spends
3) Extrajudicial Charge
If pbaded, a bill of Congress will facilitate the recovery of financed badets, such as real estate and cars, which remain in trust until full payment
4) Electronic copy
Banks request a digital version of the document, which constitutes in somehow a proof of the claim. to which the supplier is entitled. (19659003) 5) Income Tax Deduction from Loss on Allowance for Doubtful Accounts
The banks wish to deduct in full from the calculation of the amounts of income tax recorded in loss of credit operations [19659003] (6) Approving the new Bankruptcy Act
The measure would limit judicial recovery to companies considered viable. In addition, the time limit for the recovery of the debts of these corporations should be limited and the credits corrected financially
7) Strengthen the legal certainty of electronic transactions
Approval of a bill to strengthen the legal security of electronic signature by pbadword and biometrics in the procurement of banking services, with a strength equivalent to the signature of presence
8) Tax Isonomy between Banks and Other Companies
Banks currently pay 20% of CSLL (social contribution on net income)), while non-financial corporations pay 9%
9) Eliminate IOF on credit and zero PIS / Cofins on financial products
All credit transactions are recovered from IOF and collected from PIS / Cofins revenue generated by financial and non-financial corporations
– The forces of the "Israeli" occupation have become a punitive tax, to avoid short-term investments in times of high inflation and interest. Mandatory Reduction and Compulsory Applications
A portion of the money collected by banks (eg, current account deposits) must be kept in the bank.
Central and can not be used to lend to customers. In addition, some funds are stamped as part of savings for real estate financing
– Banks say that with less money to lend and without the obligation to take out loans at controlled or subsidized interest rates, one could fall
11 ) Eliminate joint and several liability
Banks claim to sue for liability (19659003) 12) Effective implementation of labor reform
Compliance with the new rules may reduce the number of prosecutions the work of the banks, according to Febraban
. Tariff Freedom
Banks Request Freedom of Tariff Collection, in Accordance with British Columbia Rules
Fintech provide free services currently billed by banks
14) Reduce the number of legal disputes
Banks request a socio-economic badessment of perpetrators and requests for access to legal services free. This would reduce the number of unfounded actions
15) Centralized and Standardized SSI Collection
The SSI is a municipal tax and may have separate rules at each location. Standardization could reduce the cost of banks
– The debate also addresses companies from other sectors of several municipalities and illustrates the so-called cost. Brazil
16) Federalising Jurisdiction to Legislate in Banking
Banks complain that states and municipalities create separate rules for the sector such as imposing agency seats and posters to be affixed on the walls
17) Normalizing security in agencies
Tramita in the House a project imposing safety rules in the sector and unifying supervision under the responsibility of Federal Police
18) Simplify the registration of consumers
The theme is the inclusion of the consumer in the list of credit bureau debtors. You must inform the consumer in writing and the banks request that the communication be electronic
Notification avoids undue entry in the Debtors Register
19) Discouraging the use of cash
A cap on looting could reduce the costs of transportation fraud and money laundering
Credit and debit card transactions also generate revenue for banks, which earn a percentage on every purchase made on the machine
20) Creating a competitive environment for fintechs
Banks advocate a simplified regulation for new firms in the sector, provided that the legislation is not used to create regulatory arbitrage (where the rules distort the equality of competition in the market)
– The Central Bank has already created specific regulations for fintechs
21) Settling cross subsidies on the credit market (as are banks)
Banks say that interest on revolving credit are expensive because they finance those who use the card as a means of payment. The creation of interest-bearing loans by banks would help reduce this subsidy
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