Fine-tuning interest rates and FED uncertainties for 2023

Average rate increases on credit. the end of the cycle of the rapid increase in the Selic rate. it reaches 42.4% a year in September, data-informed to the Medial Bank this Monday (28).

In 2021, this rate was 10 p.p. in the same period of October, reaching 32.4%. Now this average interest rate on credit increased from 54.0% to 56.6% for individuals, while for lícito entities it went from 23.0% to 23.5%, values ​​for the months of September and October in the annual sum.


The overdraft shows a drop from 134.3% to 132.5% a year from September to October, being one of the main lines of credit for individuals. However, in personal credit, there was an increase from 40.2% to 42.4% per annum.

Banks have been offering an installment plan for overdraft debts since 2018, valid only for credit amounts above 200. Years later, the Medial Bank began to limit overdraft interest at 8% per month (151.82% annually).

Fine-tuning interest rates and FED uncertainties for 2023


There was an increase in interest for the acquisition of vehicles from 27.1% to 27.2% per annum from September to October. Data provided by BC this Monday.


It increased from 28.8% per year in September to 29.9% per year in October, the month that marked 23% in 2021.


Credit Cost Indicator (ICC) increased by 0.3 p.p in October and September, at 21.6% per annum. This result is due to the volume of interest paid, in reais, both to consumers and to companies in the month, taking into account the entire stock of operations in the division with the stock itself.


The average spread in bank credit increased from 28.6 p.p in September to 30.3 p.p in October, in free credit to individuals it increased from 41.7 to 44.44 p.p between these two months. For lícito entities, it rose from 11.1 to 11.7 p.p.

The average spread of earmarked credit went from 3.9 to 4.2 p.p between September and October and in relation to totalidade credit (free and earmarked), it increased from 18.9 p.p to 20.1 p.p in month 09 to month 10.


The default rate in free credit operations with banks rose from 4.1% to 4.2%, according to the BC. In relation to this rate for individuals it went from 5.8% to 5.9%, in relation to companies, there are oscillations between 1.9% to 2.0%, all of this between September and October.

In earmarked credit (resources from savings and BNDES) in the same period, the percentage remained at 1.2% in month 10. On the other hand, free and earmarked credit shows that the default rate went from 2.9% to 3%, from September to October.

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