Bill 6233/2023 | Debtor's Obligation | House of Representatives

The project standardizes the application of interest rates in debt contracts and extra-contractual civil liability, and allows credit operations outside the banking system with more favorable conditions for borrowers.

- Defines a legal interest rate for cases where the rate is not agreed upon, such as economic loans, default on contractual obligations, and civil liability for unlawful acts. The lack of consensus in the Judiciary regarding this rate makes a clear and uniform definition necessary. The proposed legal rate is the simple arithmetic average of the real interest rates of the National Treasury Notes Series B (NTN-B) for five years, plus 0.5% per month, as published annually by the Central Bank. For monetary correction when the IPCA (Broad Consumer Price Index) is not agreed upon in a contract or specific law, it is proposed that the National Consumer Price Index published by IBGE (Brazilian Institute of Geography and Statistics) be used.

The proposal seeks to standardize the conditions for setting interest rates in transactions within and outside the financial system, allowing for better credit conditions for borrowers. This includes making the application of the Usury Law more flexible in obligations contracted between legal entities, with the exception of transactions with investment funds or clubs, while maintaining protection for individuals. Jurisprudential uncertainty regarding the application of the legal rate and the maximum limit stipulated in the Usury Law increases the costs of legal liabilities and reduces the availability of credit, negatively impacting the economy. Therefore, correcting these distortions is urgent to stimulate investment and business growth, contributing to the country's financial stability.