Overview
- The City published the law and reglamentation this week and confirmed Banco Ciudad will offer the first special line while other banks may join until July 31, with the program opening for applications on August 3 for 60 days.
- Refinancing terms are set by law: a maximum nominal annual rate (TNA) of 35% and a minimum repayment period of 24 months, and participating banks may offer better conditions if they choose.
- Eligibility targets CABA residents with family income under ten minimum wages who show arrears of 60–180 days and whose debt payments exceed 30% of household income, with exclusions for sizable assets or recent dollar purchases.
- The City will pay refinanced funds directly to creditors and give priority to vulnerable groups such as tenants, students and people with disabilities, while banks that join receive a 50% cut in Ingresos Brutos on interest earned.
- The measure responds to a surge in household delinquency — consultora 1816 estimated 12.7% family morosity in May — but officials warn its impact depends on banks’ voluntary adhesion and on the program’s operational rollout.