In February 2026, the Central Bank (BC) recorded the Credit Cost Index (ICC) at 24.19%, the highest value ever observed. The previous month, the index was at 23.87%, showing steady progress in a scenario marked by the Selic rate at 14.75% per year, set by the Monetary Policy Committee (Copom).
The ICC reflects the average interest rates applied to ongoing credit operations, as explained by the BC. Thus, sectors such as personal credit without payroll deduction, overdraft, and credit card revolving credit experienced the most significant increases. On the other hand, mortgage credit also rose, but with a more moderate increase, not reflecting the same intensity as the other modalities.
This increase is directly related to the current monetary policy, which aims to control inflation, in addition to the greater perception of risk in the financial system. Consequently, delinquency is rising, especially among families and small businesses, which raises the costs charged by banks and financial institutions.
The impact on consumers has been significant, as the higher cost of credit tightens the budgets of Brazilian families even more. Simultaneously, companies’ access to financing becomes more difficult, limiting investments and expansion of activities. The scenario outlined for 2026 indicates growing challenges for the credit market and the country’s economic recovery.
Government measures to combat indebtedness and delinquency
The federal government is evaluating a set of measures focused on controlling the indebtedness of Brazilian families, in view of rising interest rates and pressure on the household budget. Among the alternatives under study is the possibility of using the Severance Indemnity Fund (FGTS) to pay off or renegotiate debts more flexibly. This initiative aims to offer an outlet for consumers in difficulty, but the details are still in the early stages.
Furthermore, the economic team is considering expanding access to credit lines with lower interest rates to alleviate families’ financial commitments. There are proposals to restructure existing debts with the goal of reducing the portion of income committed monthly, thus facilitating financial balance. On the other hand, the government is studying ways to make excessive indebtedness unfeasible, especially in modalities that generate higher risk, such as gambling and more expensive credit.
The Minister of Finance, Dario Durigan, mentioned that various alternatives are being discussed to tackle the problem of indebtedness and delinquency. Among them is the study of a renegotiation model similar to the Desenrola Brasil program, which offered special conditions to renegotiate debts. However, all proposals are still under development and have not yet been officially announced to the public.
In summary, the proposed measures seek to alleviate the effects of high interest rates on consumers, offering mechanisms to reorganize debts and expand credit with controlled costs. The conclusion of these analyses depends on the progress of discussions among responsible agencies, which are still evaluating the impact of these actions on the national economic scenario. The expectation is that this package can be released soon, indicating the next steps the government will take to address family indebtedness.
