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The moratorium that allows the temporary suspension of the payment of interest and capital will allow families to postpone around 2 billion euros in capital and interest and, in the case of companies, an amount close to 9 billion. In other words, a total of 11 billion euros that banks stop receiving in six months.
The calculations were presented this Thursday by the Minister of Finance during the hearing of the regulation in Parliament in the Committee on Budget and Finance, and served to justify the importance and effort of banks in the face of the pandemic crisis.
“The moratorium on companies is 9 billion euros of capital and interest that will not be returned to banks in that period [seis meses]. That of individuals is 2 billion euros, ”said Mário Centeno in response to the parliamentarians of PCP and Bloco de Esquerda.
Decree Law 10-J / 2020 “establishes exceptional measures to protect the credits of families, companies, private institutions of social solidarity and other entities of the social economy”, imposing a moratorium of six months, until September 30, 2020. It is not a debt forgiveness, but only a deferment of your payment.
The moratorium allows families and companies to pay nothing to the bank for half a year, and the amount ends up adding more, increasing future fees.
In the accounts presented by Centeno, the moratoriums approved by the bank this Thursday, April 16 for housing credit and consumer credit are not yet included.
“The bank has to respond and must respond,” stressed the minister. “And I hope they can maintain that responsiveness to the end,” he added.
“If we question this dimension of stability, we will question the recovery of the Portuguese economy in the period after this crisis,” he said to justify the importance of having a solid banking system. “This is how we got to the end of 2015. Success was closely associated with two pillars: banking and the credibility of public accounts,” he stressed.
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