This paper examines the impact of payroll debit loans - a Brazilian new modality of credit - on interest rates. The main characteristic of the new credit operation is the enforcement of a direct deduction of amortizations from personal payroll checks. Adapting a matching strategy proposed by...

This work presents a semi parametric approach to evaluate the role of the Central Bank reserve requirements, both remunerated and non-remunerated, over the bank interest rate distribution in Brazil between September/2000 and March/2004. We adopted the semi parametric approach developed by...

This study analyses the effect of reserve requirements in the context of the Brazilian macro-prudential measures of 2010 and in a long-term perspective, over the last decade. Two sets of test were performed to assess the impacts of macro-prudential measures on the new loans to consumers and to...