02/18/2020 - 14:26
- Clarín.com
- Economy
This time the meeting was with Miguel Pesce, the head of the Central Bank, and the two entities that group the banks: those of national capital (Adeba), which not so long ago had had a meeting on this subject, and those of foreign capital ( ABA).
The theme: the lower cost of consumer loans . The fixed term installment rate (33% average) continues to fall, but this does not translate into a reduction in rates (nominal 70% on cards, above 100% total annual cost), warns the head of the agency , which threatens to put caps and end the argument badly.
The truth is that the focus, put so far with enough success in the reduction of commercial lines, especially for SMEs, never reached the financing of families, beyond Adeba's modest commitment to grant $ 4 billion personal loans at 45%
The argument of the entities, as it transpired, is that absorbing the cost of the Now 12 program so that it reaches customers without extras is already a very heavy burden - they represent half of the purchases - as to add a limit to the revolving rate , that is, the one that is applied every time the summary is not paid in full and part of the payment is deferred.
The cap would actually apply to the rate of personal loans since, according to the Card Law, the cost of revolving or financing the balance cannot exceed 25% of what is charged for personal loan lines.