March 16, 2020 / 12:44 PM / 2 months ago

Brazil takes emergency measures to boost liquidity, lending

BRASILIA, March 16 (Reuters) - Brazil’s National Monetary Council on Monday approved new measures to boost liquidity in the financial system and maintain the flow of credit in the economy, the central bank said in a statement.

To combat the economic and financial damage inflicted by the coronavirus pandemic, households and businesses with good credit will be able to renegotiate loans, and lower capital requirements for banks will make up to 637 billion reais ($127 billion) available for new loans, the central bank said.

Reporting by Jamie McGeever and Marcela Ayres Editing by Chizu Nomiyama

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