March 13, 2020 / 2:07 PM / in 15 days

Brazilian banking system is solid, has ample liquidity - Economy Minister

BRASILIA, March 13 (Reuters) - Brazil’s banks have ample liquidity and the current crisis does not pose a threat to the country’s financial system, Economy Minister Paulo Guedes said on Friday.

Speaking to reporters in Brasilia, Guedes said 135 billion reais ($29 billion) of reduced reserve requirements for banks enters into circulation today, and added that the central bank is confident it has the firepower to face current difficulties. (Reporting by Marcela Ayres Writing by Jamie McGeever Editing by Chizu Nomiyama)

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