June 23, 2020 / 5:58 PM / 12 days ago

Brazil central bank to allow real estate to be used as collateral for loans

BRASILIA, June 23 (Reuters) - Brazil’s central bank President Roberto Campos Neto said on Tuesday that firms will be able to use real estate as collateral for additional loans, a program that could potentially provide up to 60 billion reais ($11.6 billion) of new credit.

In a presentation outlining the central bank’s crisis-fighting measures, Campos Neto said the flow of credit to micro, small and medium-sized firms has cooled in recent weeks, so this is a sector that needs additional support. (Reporting by Jamie McGeever)

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