Recolhimentos Compulsórios e o Crédito Bancário Brasileiro

Paulo Dawid and Tony Takeda

No 250, Working Papers Series from Central Bank of Brazil, Research Department

Abstract: This study analyses the effect of reserve requirements in the context of the Brazilian macro-prudential measures of 2010 and in a long-term perspective, over the last decade. Two sets of test were performed to assess the impacts of macro-prudential measures on the new loans to consumers and to corporations. It is noteworthy that there was a decrease in lending to individuals, especially from smaller banks. In the long-term analysis, it was obtained the relationship between credit variables, the reserve requirement rate, Selic interest rate and bank balance sheet variables for various types of bank credit. It was also considered the relevance of alternative short-term funding from repurchase operations and interbank deposits.

Date: 2011-08
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