The daily return paid by digital wallets will decrease starting next week. Although interest rates began to adjust after the legislative elections, this time the adjustment responds to the bank’s new regulations National Securities Commission (CNV), Which mutual funds (FCI) are required to do? Instant liquidity To modify their portfolio composition.
Financial institutions Money market It gained popularity with the advent of digital wallets, offering daily returns and the option to withdraw silver at any time of the day. This money They consist of traditional fixed terms, pre-cancelable fixed terms, accounts payable and guarantees..
However, this Thursday a The maximum investment in securities is 20%.It is one of the tools most used by these funds, especially after guarantees reached triple digits in the run-up to the elections. This measure was made official by General Resolution No. 1092, It will come into effect on Monday, December 1, 2025.
It was a direct request from the Central Bank (BCRA) to CNV. The monetary authority noted a “significant increase” in the participation of mutual funds in the security market. “BCRA has informed CNV that it will put an end to the said participation “It is desirable for the correct functioning of monetary policy.”The official statement explained.
The impact on the rate savers receive will be direct because the industry is currently overrun in terms of the new limit. According to an analysis by Portfolio Personal Inversiones (PPI) based on data from the Argentine Chamber of Mutual Funds (CAFCI), as of November 7 26% of the assets of these funds were placed as collateral. To comply with the standard, managers would have to reduce their positions by about 6 percentage points, which equates to freeing up approximately $2.4 trillion for other destinations.
“pre, performance Money market He will fall The yield difference will push intermediary banks to either increase their loan portfolio, or direct excess liquidity to sovereign instruments or to the synchronized wheel, which imposes downward pressure on the prices of these markets. The key question is what impact this measure could have on the exchange rate.” They added from the stock brokerage firm.
By determining the percentage of the portfolio that can be collateral, Money will have to be directed towards other options that today offer less attractive prices. Delphos Investment Brokerage warns that this excess liquidity will… It will mainly move towards short fixed price instruments, Because of government intervention to reduce the cost of money.
“Together, the latest measures redirect liquidity from very short-term deposits into the financial system, Preferring that the funds end up providing resources to banks rather than remain concentrated in collateral,” Delphos Investment closed.