Central Bank project will use values paid by banks for use in the technology sector. In 2019, the collection reached R$274.4 million.
Central Bank claims for a fund of its own, while Ministry of Economy fights to end with 248 public funds, in an effort to eliminate the so-called “stamped money” from the budget. In the BC's autonomy project, which continues in the Chamber, an article was incorporated that provides for the creation of a fund to subsidize “investments and strategic projects” of the autarchy.
Resources for the project will come from amounts paid by banks to the Central Bank, with the purpose of using them in technological systems. In 2019 alone, the collection reached R$274.4 million. There is still no forecast of how much will actually be allocated to the fund.
Complementary Law No. 112, referring to the autonomy of the Central Bank, sent last year by the government of Jair Bolsonaro to Congress, was incorporated into another proposal that had been in the Chamber since 1989, No. 200, to facilitate the procedure.
Fixed terms of four years for the president of the Central Bank and the eight directors of the autarchy were one of the main points of the text. The rapporteur for the matter was in charge of federal deputy Celso Maldaner (MDB-SC). Celso, in his report, establishes the Development Fund for the National Financial System, under the responsibility of the Central Bank. In the government proposal, sent in 2019, there was no such fund.
According to an investigation by the newspaper O Estado de S. Paulo and Broadcast (Grupo Estado's real-time news system), the inclusion of the article was a request from the Central Bank itself.
The intention is to "stamp" the money for use, mainly, in technology projects, one of the priorities of the current president of the Bank, Roberto Campos Neto.
The article foresees that the BC will administer the resources in accordance with regulations to be issued by the Central Bank itself. Based on guidelines from the National Monetary Council (CMN). There is still no certainty about how the resources will be used or how much the fund will have at its disposal. According to the BC, the regulation to be edited by the National Monetary Council will determine what percentage of what is paid every year by the banks will go to the fund.
The proposal anticipates that the Central Bank will account for the use of money only to the CMN. Which is formed by the president of the BC, the Minister of Economy and the special secretary of Finance of the Ministry of Economy.
The creation of the fund is in opposition to Proposal for Amendment to the Constitution n.º 187, which began to be processed last year in the Senate and is sponsored by the Ministry of Economy, with the extinction of all 248 infra-constitutional funds (not foreseen in the Constitution), which concentrate around R$ 220 billion in resources.
