The Chamber of Deputies approved on Wednesday night (1st) the legal framework for loan guarantees. The project allows, for example, the exploitation of a specialized management service to intermediate the offer of guarantees between the borrower and the financial institutions. The text goes to the Senate.
The legal framework will need to be regulated by the National Monetary Council (CMN) and may be provided by institutions authorized by the Central Bank, which will manage the guarantees and their risk; registration in the registry offices, in the case of immovable property; the evaluation of real and personal guarantees; the sale of the assets, if the debt is foreclosed; and other services.
Among the amendments that were accepted by the rapporteur, deputy João Maia (PL-RN), is one that grants exemption from income tax on income obtained by residents abroad, including sovereign funds of countries, with investments in bonds issued by companies, financial institutions and credit rights investment funds.
Under the approved model, individuals or legal entities interested in taking out a loan from financial institutions that use the services of the guarantee management institutions (IGG) must first sign a contract with one of these and present the assets they intend to give as guarantee.
* With information from the Câmara de Notícias Agency
