UPDATE 1-Brazil’s central bank unveils wide range of credit-boosting measures
BRASILIA, June 23 (Reuters) – Brazil’s central bank on Tuesday announced a series of measures to potentially pump hundreds of billions of reais into the economy, boosting credit in particular to micro, small and medium-sized companies struggling in the coronavirus crisis.
The measures include allowing banks already extending loans to small and medium-sized enterprises, known as SMEs, to reduce reserve requirements, lowering banks’ requirements for contingent liabilities provisions, and possibly allowing firms to use real estate as collateral for new loans.
By Jamie McGeever via Reuters