A dinâmica da oferta de crédito dos bancos privados: de 2000 até 2019

Abstract

The banking sector has a tendency to present good results anywhere in the world, as they are highly dynamic from the point of view of innovation, which has provided an expansion of its operating framework over time. The purpose of this monograph is to analyze the National Financial System through the discussion on the adjustment of the portfolio of the Brazilian banking system, with emphasis on private banks, highlighting the impacts of such allocation on the credit dynamics and profitability pattern in the period from 2000 to 2019 The position of these institutions is based on the possibility of allocating their balance in Securities, Securities and Committed Operations, operations that present low risk and high liquidity without renouncing attractive profitability. Despite this, in periods of uncertainty and economic adversity, we believe that banks, especially those under private control, adjust their positions in these assets to the detriment of the supply of credit, a less liquid operation that presents a higher risk of default - preference for liquidity. In this way, they maintain a secure portfolio that provides high profitability and, when they allocate part of the allocation to credit operations, they do not do so without requiring an additional risk premium, presenting high spreads. We note that Brazil, as a peripheral country, has its economic dynamics highly dependent on the international financial system, especially with regard to the intensity and direction of capital flows; these dictate the dynamics of the foreign exchange and domestic interest rates, which in turn affect other macroeconomic variables. We emphasize that this interrelation builds the domestic economic conditions that will ultimately influence the strategy for allocating private bank portfolios. We emphasize that Brazilian public banks, in turn, present a different dynamic depending on the governmental economic policy in force in each period.