By Xiu Ying
RIO DE JANEIRO, BRAZIL - The government is expected to release over R$100 billion (US$26 billion) to private banks in compulsory deposits, which are funds that banks are required to keep on deposit at the Central Bank.
The statement was issued by Finance Minister, Paulo Guedes, on Thursday, June 27th and, according to him, the aim is to allow financial institutions to extend credit to both individuals and businesses.
On Wednesday, June 26th, the financial authority had already announced a reduction from 33 percent to 31 percent on the compulsory deposit rate, which will release R . . .