The BCRA will allow banks to lend savers’ dollars to non-exporting companies

It is the second flexibility that the management of Santiago Bausili makesl Decree 905, signed in 2002, which prohibits banks from offering loans in dollars to families and companies that are not guaranteed the generation of those dollars to pay them because they do not belong to the export sector. At the beginning of 2025, the monetary authority had authorized banks to “use their own dollars”, the product of debt placements in the market to offer loans in foreign currency.

Now, based on Communication A8446, published this afternoon, Banks will be authorized to lend savers’ dollars to companies that are not exporters.but that present the guarantee of a direct exporter that generates a continuous flow of dollars.

“As of tomorrow, it is accepted as a destination for the application of the lending capacity of deposits in foreign currency to the Financing that has guarantees in foreign currency granted by exporterss, requiring that the latter have regular income from foreign trade operations that are reasonably related to that financing,” they commented in Reconquista 266.

The Government seeks tohe credit growth will boost activity and trigger the recovery of “the micro“. But after the monetary squeeze in the second part of last year, rates still high compared to inflation and the jump in delinquencies, credit to the private sector remained stagnant. And although the dollar loan sector maintained its dynamism from January to May of this year, in the last month it grew less, which raised a warning sign.

Banks in public and private highlight that while dollar deposits are at maximums, lThe entities cannot do “financial intermediation” with those dollars andn the entities. Javier Bolzico, president of ADEBA, highlighted on Wednesday in a meeting with the press that the rate of transformation of dollar deposits into loans is 55%.

“This lower conversion rate is due, in part, to legal restrictions on lending dollar deposits and other prudential issues. But dollar deposits have great potential to grow. Argentines have 330,000 million liquid funds outside the financial system; of which 250,000 million dollars are within the country”highlighted the representative of the private banks with national capital.

At the Central Bank they highlighted that with this new measure “idle resources in foreign currency would be directed towards other subjects without affecting the repayment capacity of those deposits.”