Withdrawal Thank you Your withdrawal request has been succesful Open anonymous account Email address Password Confirm Password Currency USD EUR GBP CAD SEK RUR BTC Verify your phone and get €BRASILIA Brazil's central bank is looking to implement regulations this year to oversee financial technology companies that are expanding rapidly in Latin America's biggest economy, director Otavio Damaso told Reuters.Increased innovation and a growing number of fintechs, as technology startups in the financial sector are known, are "very positive" for the efficiency of Brazil's financial system, Damaso said on Monday.Damaso said the bank also wanted to facilitate the entry of foreign banks in the local market by eliminating the need of a presidential decree to continue the approval process.Brazilian consumers, who are reeling from a record recession that has left millions unemployed, pay some of the highest interest rates among major economies.

In the last few years, hundreds of fintechs have sprouted in Brazil to provide cheaper loans and more accessible services, challenging cautious banks that have tightened their purses during the two-year recession.While fintechs still have only a small share of Brazilian banking, they are expanding rapidly in segments such as credit cards and consumer lending."Ibelieve there is room for further expansion of credit fintechs," Damaso said, "and new regulations would pave the way for that development within a secure judicial framework."The new rules would cover fintechs teaming up with banks to offer loans, those providing securitized credit from institutional investors, and "peer-to-peer" lenders connecting borrowers directly with individual investors, Damaso said.To further diversify Brazil's financial system, which is dominated by four local banks, the central bank is also trying to simplify the entry of foreign banks.The central bank is in charge of approving licenses for foreign banks interested in operating in Brazil, but the process still hinges on a presidential decree recognizing the request as being in the national interest.

"The idea is for that recognition to be transferred to the central bank so that way you eliminate one step of the process," Damaso said.Media representatives for the president did not immediately respond to a request for comment.Last year, Banco do Brasil SA (BBAS3.SA), Itaú Unibanco Holding SA (ITUB4.SA), Banco Bradesco SA (BBDC4.SA) and Caixa Econômica Federal held 72.7 percent of the assets of the country's commercial financial institutions.That concentration has grown as two major foreign banks announced their departure last year.HSBC Holdings Plc (HSBA.L) sold its local unit to Bradesco, and the central bank is evaluating Itaú's purchase of Citigroup Inc's (C.N) retail banking assets in Brazil.(Reporting by Marcela Ayres; Writing by Alonso Soto; Editing by Brad Haynes and Lisa Von Ahn)UPDATE 5-Brazil defends beef after 'system-wide problem' prompts U.S.ban 10 Hours Ago CHICAGO/ BRASILIA, June 23- Brazil scrambled to shore up its beef industry's reputation on Friday after the United States blocked shipments of fresh cuts, saying it found abscesses in the meat and signs of systemic failure of inspections in the world's largest beef exporter.

He said USDA approval for Brazil's fresh beef, which was only granted last year, was... UPDATE 4-Brazil officials defend beef after 'system-wide problem' prompts U.S.ban 12 Hours Ago CHICAGO/ BRASILIA, June 23- Brazilian officials scrambled to shore up their beef industry's reputation on Friday after the United States blocked shipments of fresh cuts, saying it found abscesses in the meat and signs of systemic failures in the inspection program of the world's largest beef exporter.litecoin price history 2011While fresh beef shipments to the United States represent... Petrobras resumes talks with Sete Brasil over vessel contracts 12 Hours Ago SAO PAULO, June 23- Brazil's state-controlled oil company Petrobras said on Friday it has resumed negotiations with Sete Brasil Participações SA over vessel contracts.ethereum romania

UPDATE 3-Brazil farm minister heads to U.S.over fresh beef ban 15 Hours Ago SAO PAULO, June 23- Brazil's agriculture minister prepared to travel to the United States on Friday to fight a ban on imports of fresh Brazilian beef, which hit shares of local meatpackers and revived concerns about the image of the world's largest beef exporter.bitcoin sweatshirtDepartment of Agriculture's ban dealt a setback to Brazil's recently opened fresh beef... UPDATE 2-Brazil farm minister heads to U.S.google now bitcoin tickerover fresh beef ban 17 Hours Ago SAO PAULO, June 23- Brazil's agriculture minister prepared to travel to the United States on Friday to fight a ban on imports of fresh Brazilian beef, which hit shares of local meatpackers and revived concerns about the image of the world's largest beef exporter.bitcoin dove si usa

Department of Agriculture's ban dealt a setback to Brazil's recently opened fresh beef... Brazil to try to reverse US ban on Brazil meat 17 Hours Ago SAO PAULO— Brazil's agriculture minister plans to travel to the United States to try to reverse the American ban of beef imports from Latin America's biggest country.bitcoin dbsstatement said suspension will remain in place until Brazil takes corrective action.Maggi said Brazil will fight for the U.S.market and that he plans to head a mission to the United States... UPDATE 1-Brazil farm minister heads to U.S.over fresh beef ban 19 Hours Ago SAO PAULO, June 23- Brazil's Agriculture Minister Blairo Maggi prepared to travel to the United States on Friday to fight a ban on imports of fresh Brazilian beef, which hit shares of local meatpackers and revived concerns over the image of the world's largest exporter.But it was a setback for Brazil's recently opened fresh beef trade with the United States and... UPDATE 3-U.S.

bans fresh Brazil beef imports over safety concerns Friday, 23 Jun 2017 | 3:38 AM ET The USDA had "recurring concerns about the safety of the products intended for the American market," after increasing tests on Brazilian beef in March, according to a statement.The USDA's action threatens the reputation of meat from Brazil, the world's top exporter of beef and poultry, even though the United States is not a top customer."Product was already on the...In major blow to Brazil, US suspends meat product imports Thursday, 22 Jun 2017 | 7:34 PM ET RIO DE JANEIRO— In a major blow to Brazil, the United States on Thursday announced the immediate suspension of all imports of beef products from Latin America's largest nation because of safety concerns.Agriculture Secretary Sonny Perdue came three months after a major scandal into allegations of bribed meat inspectors shook Brazil's meat industry and... UPDATE 2-U.S.bans fresh Brazil beef imports over safety concerns Thursday, 22 Jun 2017 | 7:20 PM ET The USDA had "recurring concerns about the safety of the products intended for the American market," after increasing tests on Brazilian beef in March, according to a statement.

"Product was already on the... UPDATE 1-Petrobras revives plan for IPO of fuel distribution unit Thursday, 22 Jun 2017 | 7:00 PM ET SAO PAULO, June 22- Petróleo Brasileiro SA is reviving an initial public offering of fuel distribution unit BR Distribuidora to cut the Brazilian state-controlled oil company's debt and investment in low-return activities, Chief Executive Officer Pedro Parente said on Thursday.Pedro Parente said at an event in São Paulo that a proposal would be... UPDATE 1-Brazil top court ruling potentially undercuts Temer investigation Thursday, 22 Jun 2017 | 6:46 PM ET BRASILIA, June 22- Brazil's Supreme Court ruled on Thursday it has the right to reject plea bargains made in corruption probes, potentially undercutting investigations that have threatened President Michel Temer's government, prosecutors said."The full court cannot change the terms of a plea bargain if all its terms were met," said Justice Luiz Fux.Brazil's coffee, cane, corn harvests to speed up with dry weather Thursday, 22 Jun 2017 | 11:45 AM ET SAO PAULO, June 22- Forecasts of dry weather in Brazil for at least the coming week are expected to allow farmers to speed up their harvesting of coffee, cane, winter corn and other crops after a slow start due to seasonally unusual rains in the nation's center-south region.

Marco Antonio dos Santos, an agricultural meteorologist working with Rural Clima in... UPDATE 1-Investors look toward further Argentina reforms after MSCI snub Wednesday, 21 Jun 2017 | 5:33 PM ET BUENOS AIRES/ NEW YORK, June 21- The surprise decision by benchmark investment index provider MSCI to not promote Argentina to its emerging markets stock index could delay much-needed investment in the country, showing that President Mauricio Macri's reform agenda is still far from complete, investors said on Wednesday."The real damage that the MSCI's... Sao Paulo follows Rio's lead and cuts Carnival funds Wednesday, 21 Jun 2017 | 3:22 PM ET RIO DE JANEIRO— Sao Paulo Mayor Joao Doria says Brazil's biggest city will slash public funding for the annual Carnival celebrations, following a similar step by Rio de Janeiro."Faced with the budgetary rift we inherited, it is fundamental to reorganize our finances and invest in prioritary areas with fiscal responsibility," Doria said Wednesday on his... Argentina stocks tumble, peso hits record low on MSCI snub Wednesday, 21 Jun 2017 | 12:46 PM ET BUENOS AIRES/ NEW YORK, June 21- Argentine stocks tumbled and the countrys peso currency fell to a record low on Wednesday, a day after index provider MSCI surprised investors by not promoting the country to its emerging markets index.