The average interest rates were stable in June this year. In the average of all hires – free and targeted credit for families and companies – interest reached 31.5% per year last month, with a negative variation of only 0.1 percentage point (PP). Still, the rate is at the highest level, with an increase of 3.6 pp in 12 months, according to Monetary and credit statisticsreleased this Monday (28) by the Central Bank (BC).
As expected, the discharge of bank interest follows the cycle of elevation of the basic interest rate of the economy, the SELIC, defined at 15% per year by the BC Monetary Policy Committee (COPOM). Selic is the main instrument used by the BC to control inflation.
The Central Bank justifies the increase in the rate with the need to cool demand and contain inflation, because higher interest rates make credit more expensive and stimulate savings, making people consume less and prices fall. The next Copom meeting to define Selic will be this Tuesday (29) and Wednesday (30).
Statistics show that, in the same way, the spread Banking presented stability in the month. It measures the difference between the cost of fundraising by banks and the average rates to customers and was 20.4, with an increase of 1.8 pp in 12 months.
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Free credit
In new credit hiring for families, the average free interest rate reached 58.3% per year, with stability in the month and up 5.7 pp in 12 months. Among the highlights of the month is the overdraft, which rose 2.5 pp in June and 6.2 pp in 12 months to 137.5% per year; As well as personal credit not consigned, up 4.2 pp last month and 13.3 pp in 12 months to 108.6% per year.
On the other hand, The interest on revolving credit card operations fell 7.9 pp in the month and rose 12.7 pp in 12 months to 441.4 % per year. The sport is one of the highest on the market.
Revolving credit lasts 30 days and is taken by the consumer when it pays less than the full amount of the credit card invoice – using the minimum installment, for example. That is, at this moment, the customer contracts a loan and starts paying interest on the amount he could not pay off.
After 30 days, financial institutions parcel the credit card debt. In this case of the installment card, interest rose 1.4 pp in the month and were stable in 12 months, going to 182.5% per year.
In hiring for companies, the average free credit rate was 24.3% per year, with positive variation of 0.1 pp in the month and an increase of 3.5 pp in 12 months.
Directed credit
In free credit, banks have autonomy to lend the money captured on the market and set the interest rates charged from customers. Already the directed credit – with rules defined by the government – is primarily intended for the housing, rural, infrastructure and microcredit sectors.
In the case of targeted credit, the rate for individuals was 11.1% per year in June, with a reduction of 0.2 pp compared to the previous month and high of 1 pp in 12 months. For companies, the rate fell 0.6 pp in the month and increased by 1.7 pp in 12 months, going to 14.1% per year.
Thus, the average rate in directed credit was 11.8% per year, 0.2 pp reduction in the month and up 1.2 pp in 12 months.
Operations balances
In June, credit concessions reached R $ 636.9 billion. In seasonally adjusted series, they retreated 3.1% in the month, with a 7.5% reduction in legal operations and 1.4% expansion with families. In 12 months, nominal concessions grew 13.9%, with high of 17.7% in companies and 10.9% with individuals.
With this, the stock of all loans granted by the banks of the National Financial System (SFN) was R $ 6.685 trillion, a growth of 0.5% compared to May. This performance was basically due to 0.6% increase in credit for companies and 0.4% to families, which totaled R $ 2.540 trillion and R $ 4,144 trillion, respectively
According to the BC, however, there is a slowdown in the growth of balances. In comparison in 12 months, the total credit stock grew 10.7% last month before 11.8% in May.
The credit expanded to the non -financial sector – which is the credit available to companies, families and governments, regardless of the source (banking, securities market or foreign debt) – reached R $ 19.302 trillion, with an increase of 0.9% in the month, mainly reflecting 2.9% increase in debt public securities and 2.1% in securitized debt securities.
In 12 months, the expanded credit grew by 10.6%, with advances in debt government bonds (12.2%), SFN loans (10.1%), securitized debt securities (25.6%) and private debt securities (16.3%).
Family indebtedness
According to the Central Bank, default-delays over 90 days-remains stable for a long time, with minor oscillations, registering 3.6% in June. In operations for individuals, it is 4.3% and, for legal entities, at 2.4%.
Family indebtedness – ratio between debt balance and accumulated income in 12 months – was 49% in May, an increase of 0.1 pp in the month and 1.4 pp in 12 months. With the exclusion of real estate financing, which takes a considerable amount of income, indebtedness was 30.7% in the fifth month of the year.
Income commitment – ratio between the average amount for debt payment and the average income calculated in the period – was 27.8% in May, with an increase of 0.4 pp in the month and 1.9% in 12 months.
The last two indicators are presented with the highest lag of the month of disclosure, as the Central Bank uses data from the National Home Sample Survey (PNAD), from the Brazilian Institute of Geography and Statistics (IBGE).
