Desenrola Brasil: Government Launches Program to Buy Bank Debts

The Brazilian government has launched its third iteration of the "Desenrola" program, known as Desenrola 3.0, which aims to purchase old debts held by banks and other financial institutions.

Key Points

• Financial institutions have five business days to submit their debt offerings.
• The government expects up to R$90 billion worth of eligible debts but will pay only 10% due to required discounts.
• After acquisition, these debts can be renegotiated with consumers under favorable terms.

Details of the Program

Under Desenrola 3.0, banks and credit funds must present their debt portfolios that meet specific criteria within five working days following publication of the call notice. These debts must fall into certain categories such as consumer loans, credit card balances, and small business credits. Once submitted, the government will analyze the volumes offered before proceeding to auction them off publicly. This process may take place in November or December depending on preparation timeframes.

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Background Context

Previous iterations of the Desenrola program focused on helping individuals and businesses manage their outstanding debts through negotiated settlements facilitated by the government. By acquiring these debts directly from lenders, the state hopes to provide relief to those struggling financially while also encouraging economic recovery efforts across various sectors.

Questions and Answers

What types of debts qualify for inclusion?

Eligible debts include consumer loans, credit cards, and small business credits originally valued below R$10 thousand and aged between two years and four-and-a-half years past due date.

How much money does the government plan to spend on buying these debts?

Initially, the government estimates spending approximately R$9 billion out of potential offers reaching R$90 billion because they require sellers to accept minimum discounts of 90%. However, actual purchases depend on competitive bids during the auction phase.

When will consumers be able to start negotiating their debts again?

After successful auctions conclude, acquired debts become available for negotiation where borrowers might benefit from reduced interest rates and flexible payment plans established according to future regulations set forth by monetary authorities.