Fearing sanctions law that allows use of up to R $ 15 billion FGTS Caixa

According to the bill passed in Congress, the application of FGTS funds is authorized until 31 December 2018.
04/01/2018 15h18 - Updated 4/01/2018 15h31
Photo: reproduction

Yara Aquino – Agency Brazil

President Michel Temer signed today (4), without vetoes, the law that allows the capitalization of CEF at R $ 15 billion with funds from the Service Time Guarantee Fund (FGTS).

The project, converted into law, It was approved in Congress in December and authorizes the Board of Trustees of the FGTS to perform contracts with Caixa in the form of hybrid capital and debt instruments. The contracts will be made by resolution of the board.

Without recourse, the bank might have to reduce lending. The goal is to meet the standards of the National Monetary Council (CMN) for the case to continue releasing credit to real estate operations to low-income public, especially for the Minha Casa, My life.

According to the bill passed in Congress, the application of FGTS funds is authorized until 31 December 2018.

The penalty occurred in Temer president's office in the presence of the president of Caixa, Gilberto Eyes, and ministers of Staff, Eliseu Padilha, and the General Secretariat of the Presidency, Moreira Franco.


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