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In just two years, the Positive Registry has reduced the rates charged on non-consolidated personal loans for new borrowers by an average of 10.4%
In this period, the bureaus that manage the CP database have already included around 100 million consumers and companies
São Paulo, May 14, 2021: The new Positive Registry with automatic consumer adhesion is two years old since it was sanctioned by the Presidency of the Republic, and has already confirmed some of the benefits expected from its implementation. These include its ability to promote financial inclusion, credit expansion, competition in the credit market and a reduction in the interest rate charged on credit operations.
This last result was the one most expected by the market, and is the main highlight of the report "Analysis of the Effects of the Positive Registry", which the Central Bank recently sent to Congress.
According to the report, new borrowers with a score in the Positive Registry had, on average, a 10.4% reduction in the interest rate charged on personal loans excluding consigned credit, equivalent to a 31 percentage point drop in the annual interest rate. On the other hand, borrowers whose credit score improved with the entry into the Positive Registry saw a reduction of up to 15.9%, equivalent to a drop of 40 percentage points in the annual interest rate.
"Ever since we started seeking approval for the Positive Registry with automatic adhesion, we were convinced that the reduction of risks in the supply of credit made possible by the credit rating and the increase in competition would result in lower interest rates for borrowers, and the report proves this, within just two years." In making this assessment, Elias Sfeir, president of the National Association of Credit Bureaus (ANBC), ponders that this benefit should be even greater from now on.
In addition, the companies in the sector found, with data from December 2020, that the proportion of individuals who improved their credit risk rating by joining the Positive Registry was higher than the proportion who worsened. According to the bureaus, 41% of consumers achieved a better risk rating, another 33% remained in the same range, while 26% had a worse rating.
Also according to the sector survey, among companies, 30% benefited from migrating to lower risk bands, 50% remained in the same band and 20% moved to higher risk bands. This confirms another expected benefit: the possibility of a greater number of individuals and companies gaining access to credit as a result of their inclusion in the database.
Since the entry into force of the Positive Registry with automatic adhesion, around 100 million consumers and companies have already been included in the CP database, an increase also reported by the Central Bank.
ANBC Press Relations
Regina Pimenta: (11) 98136.6835 regina@pimenta.com
Ana Carolina Rodrigues: (11) 98674.0348 anacarolina@pimenta.com
