Under Communication A 6901, the Board of the BCRA reduced to 35% the funding rate that financial institutions must offer to MSMEs to have access to the easing of minimum reserve requirements, in accordance with the terms set forth by Communication A 6858, dated January 9. This new reduction implies that MSMEs may have access to lower rates than those available today.
This way, the BCRA deepens the improvement process of funding rates aimed at stimulating the recovery of lending, in particular to smaller enterprises. This measure falls within the BCRA’s monetary policy guidelines, considering that credit intermediation is at very low relative levels, and intends to be in line with the decline in the monetary policy interest rate of the past few weeks.
Since the implementation of Communication A 6858, MSMEs showed a positive reaction to this new lending rate, which is lower than the market rate.
