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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (21246)	8/16/2007 1:17:28 AM
From: elmatador	Respond to of 218788

Credit card debt bears interest of 224% a year, according to Anefac. The overdraft rate is 145%. Even debt with a reasonable level of collateralisation, such as payroll-linked or car loans, costs between 15 and 33 per cent a year. Last year, $18.8bn entered Brazil as foreign debt, the vast majority raised by banks. They invested some of it in high-yielding public securities. But a significant amount was passed on as consumer credit. Total financial sector credit in Brazil stands at about $395bn, of which $135bn is consumer credit and $260bn, corporate. Foreign banks account for 36 per cent of the total, according to Anefac, a financial markets association that monitors credit. 15% of Brazilian credit was securitised through instruments such as receivables funds, often traded between financial institutions. He said the risk that Brazilian banks could be exposed directly to subprime lending in the US was minimal and would easily be dealt with by the central bank relaxing restrictions on liquidity. euro2day.gr Neither helicopeter nor easy money in Brazil, Mr. TJ.