Central Bank announces it could release $125bn into Brazil’s economy

Financial institutions will be able to take out loans with the Central Bank. The estimate is for the release of R$650 billion ($125 billion) into the economy. In an extraordinary meeting, the National Monetary Council (CMN) authorized the Central Bank (BC) to grant loans to banks taking as collateral the credit portfolios of these institutions. The operations will have a minimum of 30 days and a maximum of 359 calendar days maturity.

Source: The Rio Times