Central Bank Enables Flow of Resources Between Financial Institutions
24 abril 2020

On April 24, the Central Bank of Brazil decided to authorize financial institutions to take “Time Deposits with Special Guarantee” (DGPE, in Spanish) from those institutions associated with the Credit Guarantee Fund (FGC, in Spanish). This financing will be guaranteed by the FGC up to a maximum amount of R$400 million. To access the resolution published in the Official Gazette, click here.

The initiative is intended to enable resources to flow more quickly between partner institutions in the financial system and is part of the measures promoted jointly by the National Monetary Council (CMN, for its acronym in Spanish), the Central Bank of Brazil (BCB, for its acronym in Spanish) and the FGC to mitigate the economic effects of the COVID-19 global pandemic.