Posts Tagged ‘abbc’
Cade, SDE enter the fray on BB consignado case to ABBC’s chagrin
Brazilian antitrust regulator Cade and finance ministry consumer defense unit SDE will take up the case of Banco do Brasil‘s (BB) exclusivity in payroll-linked consignado lending with local and state governments, but this move is not to the liking of midsize banking association ABBC, a spokesperson told BNamericas. Read more: Cade, SDE enter the fray on BB consignado case to ABBC’s chagrin
Tags: abbc, banco do brasil, Banco Santander Brasil, cade, Caixa Econômica Federal, SDE | Posted under Stock & Bond Market News | No Comments
ABBC to confront more exclusive payroll lending contracts after legal victories
Brazilian midsize banking association ABBC will be taking on more exclusive payroll-linked lending contracts between banks and local governments in São Paulo, Guarulhos and Espírito Santo after recent legal wins in this area, the group’s head Renato Oliva told BNamericas. In the past week, ABBC received positive opinions from courts in the Brazilian states of Rio Grande do Norte and Paraíba, putting a hold on exclusive deals in this segment, known as consignado loans, between local governments … Read the full article.
Tags: abbc, Brazilian midsize banking association | Posted under Stock & Bond Market News | No Comments
Banks’ option for 2-year bonds could make up 15% of funding by February 2011
With the decision to allow Brazilian banks to do local issues with a minimum term of two years, this new funding option could make up as much as 15% of the financial industry’s funding by February 2011, the president of midsize banking association ABBC, Renato Oliva, told BNamericas. Financial institutions received permission from national monetary council CMN to start the programs, which will be known as “Letras Financeiras” (LF), central bank BCB said in a statement on February 25. Read the full article.
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Association: Deposit insurance scheme should generate US$15.5bn-20.6bn in funding
Brazil’s midsize banking association ABBC sees banks coming away with 30bn-40bn reais (US$15.5bn-20.6bn) in funding over several months as a result of deposit insurance fund FGC’s program to insure special CDs, ABBC’s president Renato Oliva told BNamericas. Last week, Brazil’s monetary council CMN said that it would not be allowing early withdrawals on the time deposits backed by the program, which started on April 1, in an effort to reduce uncertainty over this funding source. Read the full article.
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