Savings has record withdrawal of R$ 22 billion in August

The savings account registered a net withdrawal of R$ 22.016 billion in August, in a scenario of high interest rates that reduces the competitiveness of the application against other investments, data from the Central Bank showed this Tuesday (6).

The volume of withdrawals was well above the negative result of BRL 5.468 billion in the same month of 2021 and represents the largest nominal net withdrawal for all months in the BC historical series, which began in 1995.

The record loss was registered even in the face of payments by the federal government of social benefits boosted this election year. Transfers such as the Auxílio Brasil surcharge, the Auxílio Gás supplement and benefits for truck drivers and taxi drivers started in August.

Of the total for the month, withdrawals exceeded deposits in the SBPE (Brazilian Savings and Loan System) in the amount of R$ 19.697 billion. In rural savings, net outflows were R$ 2.318 billion.

As a result, the savings account accumulates a net withdrawal of R$ 85.168 billion between January and August of this year, also a record in the series. In the same period of 2021, the data was negative by R$ 15.630 billion.

After record inflows in 2020, with the payment of emergency aid to low-income families in the pandemic and the low level of the basic interest rate, the flow of funds in savings presented a reversal in direction in 2021, a trend that gained strength this year. .

The withdrawal of emergency social transfers and the successive increases in interest rates by the BC to hold back inflation led savings to accumulate significant withdrawals.

With the economy’s basic interest rate above 8.5% per year (the Selic is now at 13.75%), savings deposits returned to a fixed yield of 0.5%, or 6.17% per nominal year, plus the TR (reference rate), which is close to zero. This leaves the remuneration lower than other fixed income investments and below inflation, which accumulates a high close to 10% in 12 months.