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Although the rules issued by the Central Bank have allowed to increase the liquidity of the institutions in the National Financial System, they have not imposed the adoption of effective measures to convert these amounts into credit for companies and families.
The decision prohibits the Union and the Central Bank from issuing complementary rules on bank liquidity
With this understanding, Judge Renan Coelho Borelli, of the Ninth Federal Civil Court of the Federal District, determined the suspension of the installments of deductible payroll credits for four months. The decision is this Monday (4/20).
The judge also determined that the Central Bank and the Federal Government prevent financial institutions from distributing profits and dividends to shareholders, directors and board members in addition to the mandatory minimum percentage. This is true as long as the coronavirus pandemic lasts, beginning February 20.
The judge also prohibits the Federal Government and the Central Bank from editing rules that are complementary to those already published to increase the liquidity of financial institutions and allow the expansion of the supply of credit to companies and families.
The decision complies with the popular action presented by the lawyer Márcio Mello Casado against the Union and the Central Bank of Brazil. He argued that, due to the coronavirus epidemic and the repercussions on the Brazilian economy, the Central Bank began to adopt measures to “increase liquidity in the market, without establishing, on the other hand, obligations to financial institutions, to reverse this liquidity in the form of credit to its clients. “
He also requested the suspension of monthly discounts on pensions, arguing that the debts of retirees would reach more than R $ 138 billion and that they are part of the group most vulnerable to the pandemic.
When analyzing the case, the judge understood that “already on February 20, 2020, the Central Bank acted to allow the liquidity of SFN institutions to increase, without imposing on banks the offer of credit to their clients.
According to the magistrate, “the rule allows each institution to adopt the minimum established in its statutes for the payment of profits and dividends to its directors, without observing that Law 6.404 / 1976 establishes a minimum percentage of 25% of adjusted net profit.”
Click here to read the sentence.
1022484-11.2020.4.01.3400
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