Overview

• President Lula will unveil the model in São Paulo, and the government plans immediate testing once an extraordinary CMN meeting and a Central Bank resolution authorize the framework.
• Under the mechanism, each real in new housing finance lets banks access an equal amount of savings resources for free use for five years, with 80% channeled to SFH loans and 20% to SFI.
• The trial runs through the end of 2026 with a 5‑point reduction in effective compulsory deposits for participating banks, and full implementation is slated for 2027; Caixa is expected to lead early lending.
• A companion housing‑rehab program will be presented with three income bands, featuring monthly rates around 1.17% for lower‑income families and 1.95% for middle‑income households, with lines expected at Caixa by late October.
• Separately, MP 1.303 passed a joint committee by 13–12 but must clear both chambers by tonight or lapse; government allies cite at least R$17 billion in 2026 at stake, while accusations of political pressure by opposition figures are denied by Governor Tarcísio de Freitas.