Credit can be requested, according to notice 10/23, published this Monday, by solvent financial institutions that need to resolve temporary liquidity problems, but that will have to comply with a series of requirements.
They must demonstrate, before turning to the BNA, that they have exhausted any other alternatives in the interbank market, that they maintain a "credible prospect of maintaining or restoring adequate capital ratios in the short term" and that they are in a position to repay the funds acquired.
Banks must present a plan for investing resources and a repayment perspective within a period of no more than 180 renewable days, once and for the same period, and a sustainable business model "that generates sufficient profitability to avoid the need for refinancing".
The BNA admits lending even with a lower own funds ratio, "as long as the institution presents an action plan that provides for recapitalization, sale of assets and other leverage measures that allow the recovery of solvency in the short term".
The regulator may also determine restrictions on the granting of credit, such as suspension of the distribution of dividends, prohibition of granting new loans and significant investments, prohibition of access to certain markets and cost containment, with loans being made in national currency.
If the credit granted is not being used in accordance with the purposes for which it was requested, "the borrowing banking financial institution is urged to reimburse the credit and all associated costs immediately", states the notice.
The interest is equivalent to the rate of the permanent facility for the provision of liquidity plus a spread of 2 per cent.