The program’s proposal is to make room on banks’ balance sheets for new credit concessions through the resale of securities already granted to investors.
April 24, 2024, 05:03 am
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247 – The Secretary of Economic Policy for Finance, Guilherme Mello, said this Tuesday (23) that the new program launched by the government, “Acredita”, should increase the supply of real estate credit for middle-class families.
Mello explained in an interview with CNN Brasil that the program’s proposal is to make room in the banks’ balance sheets for new credit concessions through the resale of securities already granted to investors.
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“Today banks, in particular Caixa Econômica, give credit to people to buy their property, and keep this credit on their balance sheet. This means that they need to wait for the buyer to pay off the credit, which sometimes takes 20 or 30 years, to make room again on their balance sheet and offer new credit,” he said.
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Tags: Real estate credit offer expanded middle class Acredita Finance Secretary
