A new meeting to discuss the payroll interest ceiling is scheduled for this Tuesday (28); 1.7% rate is criticized by banks.| Photo: Jonathan Campos/Gazeta do Povo archive

The meeting between the Minister of Social Security, Carlos Lupi, and the Executive Secretaries of the Treasury on the limit of interest charged on payroll loans to INSS retirees and pensioners ended without consensus on Monday night (27). Government members are unable to reach a satisfactory agreement after the National Social Security Council (CNPS) lowered the ceiling from 2.14% to 1.70% per month, two weeks ago.

A wing of the government, Social Security, defends the maintenance of the current rate, which made public and private banks suspend the granting of new loans by leaving the profit margin of the institutions negative. Other areas of the Executive Branch say that something around 2% could be more acceptable for the institutions.

Due to the impasse, minister Carlos Lupi is due to meet again with members of the government this Tuesday morning (28) to try to reach an agreement on the interest rate ceiling before taking it to the CNPS for discussion, scheduled for at 2pm.