2023-12-29 02:30:00
He Banco Central resolved this Thursday to expand three to six months the minimum placement period for fixed terms adjusted by UVA coefficientsimilar to inflation.
The monetary authority established that the minimum length of stay will be six months.
In addition, it sent a signal to the banks, by ordering that the Financial institutions may refuse to take these deposits for amounts greater than $5 million..
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Financial institutions complain regarding the little room for maneuver that very short-term deposits give them, compared to a demand for long-term credit.
The banks had been making proposals for the high interest rates arranged for term placements, which were lowered following assuming Javier Miley The presidency.
The UVA fixed terms were one of the issues that the bankers had raised with the new BCRA authorities in the meeting they had a few days ago.
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It is, they say, a tool that generates losses, because it guarantees a positive real rate point – that is, above inflation – to savers.
The modifications particularly affect the alternative that allows the deposit to be pre-paid in advance following 30 days. The new standard was made official through Communication “A” 7929, which the entity’s Board of Directors approved this Thursday and will come into force on December 29.
The main changes in the UVA fixed term
He minimum term of the pre-cancelable UVA fixed term goes from 90 to 180 days. That is, the money will have to be immobilized for at least six months to receive the inflation adjustment.
Banks will be required to capture this type of deposits for up to $5 million per client, although they can extend that amount if they want. When the fixed term is established in the name of two or more people, the limit will be distributed proportionally among the holders.
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