January 24, 2017 / 6:59 PM / a year ago

Brazil central bank to announce changes in reserve requirement rules

BRASILIA, Jan 24 (Reuters) - Brazil’s central bank will later on Tuesday announce measures to simplify its reserve requirement rules as part of its effort to reduce credit costs for consumers and companies, the bank said in a statement.

Daily O Estado de S.Paulo reported earlier on Tuesday that the bank planned to unify rules for demand, savings and time deposits to reduce costs for financial institutions. (Reporting by Alonso Soto, editing by G Crosse)

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