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    Central Bank of Brazil Publishes Consultation on Credit Fintechs

    August 30, 2017

    The Central Bank of Brazil published a public consultation (55/2017) on direct credit and lending operations between entities. This consultation, which is part of the BC+ Agenda, also governs the execution of lending operations between entities through an electronic platform. Comments must be submitted by November 17, 2017.

    The new rules are aimed at companies that employ technology-intensive credit solutions, also known as "credit Fintechs." These financial institutions will be subject to proportionality in terms of regulation, with respect to size and risk profile, and the resulting simplified authorization procedures. This is part of the Central Bank's strategy to increase competition, foster credit, and reduce costs to the final borrower. The regulation of credit operations through electronic platforms tends to increase the legal certainty of contracts and may contribute to increasing efficiency and competition in the credit market, with the potential to reduce the banking spread and with a positive impact on the real economy, including with regard to credit to small and medium-size enterprises.

     

    Related Links

    Press Release (in Portuguese)

    Consultation 55/2017 (PDF in Portuguese)

    Comment Due Date: November 17, 2017

    Keywords: Americas, Brazil, Banking, Fintech, Direct Credit, Consultation, Central Bank of Brazil

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