Banks, B3, and Rotation: What Will Remain Open During São Paulo’s Extended Holiday

SÃO PAULO, BRAZIL – The city of São Paulo will have a five-day-long holiday this week, between May 20th and 24th. The aim is to increase the rate of social isolation in the capital, in a strategy to reduce the spread of the novel coronavirus.

In the decree signed yesterday morning by São Paulo’s Mayor Bruno Covas, the Corpus Christi (June 11th) and Black Awareness (November 20th) holidays were moved to Wednesday and Thursday, May 20th and 21st. Friday, May 22nd, will be an optional day.

There is also a statewide plan to anticipate the Constitutionalist Revolution holiday (July 9th) to Monday, May 25th. The Legislative Assembly announced that it should decide on the government’s proposal by Thursday, May 21st.

In a press conference at the Bandeirantes Palace, the state Health Secretary, José Henrique Germann, alerted to the need to stay home. “The holiday is not meant for leisure. It’s not about going to the beach or parks; you have to wear a mask, and you have to stay home”.

Will the financial market and banks operate?

Following an all morning debate, the financial market has decided that it will keep all registration, trading, custody, clearing, and settlement activities at regular hours. In line with the B3’s decision, Tesouro Direto (portfolio of Brazilian government bonds) also determined that it will operate regularly for investments and redemptions.

Caixa Econômica Federal (Federal Savings Bank) confirmed, through its press office, that it will keep its branches in operation for the next few days to serve the beneficiaries of the emergency aid, despite the holiday.

“To avoid crowds, long queues, and overlapping calendars, Caixa announces that it will keep its branches in operation throughout the state of São Paulo, from 8 AM to 2 PM, to attend the Emergency Aid, according to the published calendar. Units will also open on Saturday”, reported the institution through a note.

The other major national banks have not yet commented. Yesterday afternoon, the Central Bank announced that the Corpus Christi bank holiday would take place throughout Brazil on June 11th, 2020, which will be deemed not a business day for financial transactions.

What will operate?

Most face-to-face services, such as Poupatempo and Detran, are already suspended due to the novel coronavirus pandemic. Remote lessons from municipal schools will not be held either.

Free markets will operate as usual every day. The municipal markets will also continue to work, although at different times. As for buses, between Wednesday and Sunday, 5,991 vehicles will be available to serve the capital’s 1,013 lines, including 150 night-buses. Service at sales posts in bus terminals and on the Expresso Tiradentes also remain in operation, from 6 AM to 10 PM.

According to the City Hall, direct human rights administration services such as the Social Assistance Reference Centers (CRAS) and the Specialized Reference Centers for Street Population (POP Center) will remain closed. The 13 units of the Work and Entrepreneurship Support Center (CATE) will also remain closed.

The municipal decree establishes that the holiday does not apply to “health care facilities, urban safety, social assistance, and funeral services, in addition to other services that cannot be stopped.”

How will vehicle rotation in the capital be conducted?

The Municipal Vehicles Rotation will be suspended from Wednesday, May 20th, to Sunday, May 24th. In this case, vehicles with end number plates 5, 6, 7, and 8 may travel unrestricted.

Source: Exame