Due to the delay in releasing credit granted to Auxílio Brasil beneficiaries, which is awaiting regulation and facing disagreements over the ceiling on the interest rate that can be charged, some banks and financial institutions have decided not to offer the credit modality.

As in the case of Banco Safra, which reported that the bank stopped working with the consignment modality for the public, due to the current uncertainties related to regulation and legal obstacles.

Therefore, the main reason for the delay in releasing the Auxílio Brasil consignee is the delay in releasing the credit regulations that will define the rules for offering and contracting the consignee. Therefore, these rules have been the agenda of the daily meetings of the Ministry of Citizenship, led by Ronaldo Bento.

According to Estadão, internally the minister defends a ceiling on the interest that can be charged to beneficiaries. Thus, some technicians from the ministry claim that the ceiling should be similar to that for pensioners and retirees from the National Social Security Institute (INSS), which is currently 2.14%. 

However, there is no consensus on possible market intervention by the Ministry of Citizenship if a ceiling on the interest rate is established. Therefore, beneficiaries of Auxílio Brasil cannot yet contract a payroll loan, although the modality has already been approved and sanctioned a long time ago.

Furthermore, many financial institutions have already shown interest in offering payroll loans to program beneficiaries. However, they are willing to give up the credit line if the Ministry of Citizenship establishes an interest rate limit similar to that of the INSS.

This may happen because, unlike INSS policyholders, Auxílio Brasil is not guaranteed and can be suspended or definitively terminated if families do not comply with the requirements of the social program. This situation could mean high default risk and uncertainty for banks, leading to higher interest rates.

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