Brazil Banks to Get Bond Issuance Option

Brazil Banks to Get Bond Issuance Option

Brazil

Brazilian banks are close to having the option of issuing tradable debt instruments in the local market. Finance minister Guido Mantega announced a series of economic development initiatives last week. Among them is the proposed creation of a new instrument called letra financeira, which is a long tenor bond that can be issued by banks. The goal, according to the ministry, is to improve banks’ ability to fund themselves in the capital markets at longer tenors. The bonds would be registered with

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