November 22, 2018 / 12:49 PM / 22 days ago

Brazil loosens reserve requirements rules, frees up $711 mln

BRASILIA, Nov 22 (Reuters) - The Brazilian central bank on Thursday loosened several regulations on reserve requirements, in effect injecting 2.7 billion reais ($711 million) worth of capital into Latin America’s largest economy.

The rule changes, which will go into effect at the end of the year, involve rates on spot and term deposits, among other issues.

Under the new regulations, eight small banks will not be required to hold such reserves at the central bank anymore, according to a statement.

$1 = 3.80 reais Reporting by Marcela Ayres; Writing by Bruno Federowski Editing by Nick Zieminski

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