08/02/2020 - 21:06
The emergence of the pandemic, with its quarantine of low blinds, caused a break in the payment chain even worse than the 2001 bankruptcy in the face of the number of small businesses that suddenly lost their income.
But the evolution of rejected checks, a clear indicator of this shock, shows how the operation of the chain is regularizing.
The collapse had been record, with almost $ 36 billion in bounced checks in April, 7.8% of the total offset, according to data from the Central Bank. But for May, that amount fell to $ 15,725 million (3.7%) and in June it fell to $ 7,760 million (1.6%).
This represents a drop in bad checks of 80% since April and 50% compared to May. In any case, the proportion of checks that bounces is more than double than at the beginning of the year, with 0.7% of the total in the pre-pandemic phase.
If we look at the amounts at stake , there were 571,200 checks rejected in April, 228,000 in May, and 88,200 in June. Another face of the progressive normalization of the payment chain and how some companies were getting out of the hole. It is a drop of 85% compared to the maximum reached in April and 60% in relation to June.
Thus, the percentage of bounced over the universe of instruments was declining from 11.9% to 6% to 2.1%. At the beginning of the year, it stood at 0.9%.
Throughout 2019, 1,500,000 checks amounting to $ 91,000 million were rejected due to lack of funds. In April, May, and June alone, rejected instrument funds totaled 66% of those that bounced throughout the past year. In terms of quantities, in three months the system rejected the equivalent of 60% of the whole of 2019.
The MiPyMEs line of credit launched in late March with a fixed rate of 24% helped the payment chain regain some fluidity (and lost confidence in the process).
In the accumulated to June, according to the Central Bank, $ 90,000 million were allocated to deferred check coverage, almost 30% of the total financing offered by this line. Some $ 61,000 million went to pay salaries, while $ 152,000 million funded the rest of the working capital.
But the bankruptcy suffered by this gear of payments that sustains the economy was not free and left its marks. The number of cleared checks continued to decline in June to add 4.2 million for a total of $ 485 billion.
Although it implies a slight rebound against May, the 6.6 million checks for $ 700 billion in January were far behind in a market that is now more inclined to transfers . Or that in some cases, he returned in cash, in the conviction that the instrument does not have the same support.
Until December 31, 2020, the closure and disabling of bank accounts established by law is suspended . In this line, the Central Bank extended by thirty (30) additional days the term for the presentation of common or deferred payment checks.
Among the relief measures is also the admission of a second presentation for rejected checks and the prohibition to apply commissions related to the rejection of checks.
In addition to being a means of payment, the check works as an extended financing mechanism for SMEs , which can be discounted at the bank or on the Stock Exchange. More than 90% of the amount obtained by SMEs in the market this year was via checks. Almost 35% are already electronic checks.