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Congress approves proposal to facilitate access to credit

Reduction of bureaucracy

In addition to making it less complicated for micro and small business owners, the measure will reduce cost in loans and financing that have assets as collateral

Approved by the Senate on Wednesday (16), the provisional measure that facilitates access to cheaper credit for businesses and consumers followed the sanction of President Michel Temer.

In practice, the text creates the register of assets constituted in all operations carried out in the financial market, regardless of the nature of the business. It works like this: when getting a loan or financing, the lender can give a property, such as a house or a car, as a guarantee of payment.

In legal jargon, identifying such assets as legally bound by a specific contract is called "lien and liens". This measure still prevents a good from being used as collateral in more than one operation. Similar to what happens when a car is purchased by financing and it is guaranteed that the vehicle will not be transferred until it is removed.

"The standard reduces the legal risk, and consequently the credit risk, of the operations made by banks with small and micro-enterprises," said Central Bank (BC) regulation director Otávio Damaso .

More transparency

When it proposed the measure, the government judged that the changes would increase transparency and make the practices of the financial system safer . With this, it is expected to reduce the credit risk of the operations carried out by banks, especially with smaller companies.