The deposits of savers in the entities of the financial system fell by 0.9% in the last year, according to the Superintendence of Banking Insurance and AFPs (SBS) with data from January 2021 to January 2022.
Manuel Luy, Deputy Superintendent of Economic Studies of the SBS, explained that time deposits were the ones that fell the most, mainly due to withdrawals from CTS and AFP funds.
Thus, a “transformation of resources” was generated, since fixed-term deposits were transferred to savings and sight accounts; that is, with greater flexibility to dispose of the money.
“Last year the decrease was almost 1% of savings. The expectation is that if there are no new AFP and CTS withdrawals, this trend would recover, and in the year 2022 there will be an increase in fundamental savings to establish the sources that allow families to be able to face potential shocks in the future”, pointed out the official.
Source: Larepublica
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