Despite the expected volume,the maximum estimated cost for the purchase of this amount would be R$ 9 billion, considering the minimum 90% discount required by the program.
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"We are calling on banks to organize and present the exact volume by different creditor brackets. In this call for interest, we will allow several income brackets to be presented, but our focus is on smaller income brackets," said Durigan.
How it will work
The public call will be aimed at banks, financial institutions, and credit funds (FIDCs). To participate in the next stage, creditors must present debt portfolios that meet the program's criteria and accept the minimum discount terms.
The procedure will be divided into stages:
- Call for submissions: publication of the call for interest of creditors;
- Presentation of portfolios: five-day period to inform eligible debts;
- Auction definition: analysis of the submitted volume, with separation by income bands;
- Debt purchase: holding of the auction, scheduled for November, with the possibility of postponement to early December.
According to the minister, the government intends to structure the dispute to favor debtors with lower incomes and individual micro-entrepreneurs (MEIs). However, if the volume of low-income debts is lower than expected, the government may purchase more high-income debts.
How much will it cost?
The initial estimate is that creditors will present up to R$ 90 billion in debts. Since the program requires a minimum discount of 90%, the Union would pay, at most, 10% of the nominal value of the acquired portfolios.
In the event of purchasing the entire estimated amount, the disbursement would be up to R$ 9 billion.
"If, at most, these R$ 90 billion in debts are offered, we would know that, at most, we would consume R$ 9 billion to acquire everything," said the executive secretary of the Ministry of Finance, Rogério Ceron.
However, the government will not necessarily purchase all the packages. The intention is to establish a budget for the auction and stimulate competition among creditors, which could result in discounts exceeding the minimum required.
"Depending on what we receive in these packages from banks and financial institutions, we may be able to demand a 93% or 95% discount in the auction. And then, depending on how the auction runs, I may be able to get even larger discounts," said Durigan.
Which debts are included
Desenrola 3.0was created by provisional measureSigned by President Luiz Inácio Lula da Silva in September. The program provides for the purchase, by the Union, of credit card accounts with old debts to enable the renegotiation of debts with consumers.
Among the conditions provided are:
- Debts of up to R$ 10,000, considering the original value of the debt;
- Delays between 720 and 1,645 days, equivalent to approximately two years and four and a half years;
- Credit card debts, including revolving and installment modes, and personal credit without payroll deduction;
- Possibility of including eligible debts of individuals and micro-enterprises, according to the program's rules.
In the launch of the initiative, the government estimated that the total volume of eligible debts could reach R$ 150 billion, with an outlay of approximately R$ 15 billion. The forecast of R$ 90 billion disclosed now corresponds to the initial expectation of debts that creditors may present in the first call.
How the renegotiation will be
After the auction, the debts acquired by the government may be renegotiated with the debtors, with the discounts obtained in the purchase of the portfolios being passed on.
The consumer will be able to pay the debt immediately or make installments, according to the conditions to be established. In the case of installment, interest will be charged.
The deadlines, fees, and other operational conditions still depend on the definitions of the National Monetary Council (CMN) and the applicable regulations.
Currently, consumers do not need to contact banks to participate in the selection process. The government will still need to publish the rules and procedures for accessing renegotiations.
Continuity
Asked about the continuity of the program regardless of the presidential election results,Durigan stated that the initiative has a permanent public policy character.
The minister also criticized suggestions of a temporary freeze on personal and corporate debts, which he described as "a kind of generalized default on the financial system."
According to Durigan, the government intends to maintain Desenrola 3.0 as a state policy to address debt and facilitate access to credit.
The next step will be the analysis of the portfolios presented by the creditors. Only after this assessment will the Treasury define the volume of debts to be acquired and the conditions of the auction.