Argentina launches first ANSES fund auction for mortgage loans

mortgage loans ANSES UVA credits housing finance Argentina economy

The Argentine government has launched the first auction of funds from the ANSES Sustainability Guarantee Fund (FGS) to finance new mortgage loans. This initiative, coordinated by the Central Bank, is part of a broader plan to mobilize up to $2 trillion pesos through successive auctions to provide long-term funding for the banking sector.

The initial auction involved $200,000 million pesos, attracting offers totaling over $258,000 million from 18 financial institutions. Ultimately, 13 banks were selected to receive the funds. The program offers two types of deposits: one-year terms with a minimum return of UVA + 2.5% and five-year terms with a minimum return of UVA + 4.5%.

Banks receiving these funds are required to offer mortgage loans for first-time homebuyers with a minimum term of 15 years and a maximum interest rate of UVA + 7.5% per year. Individual loans are capped at 150,000 UVA. Once the funds are acquired, banks have a period to convert them into mortgage operations. The government estimates this program could result in between 17,000 and 18,000 new mortgage operations, aiming to reactivate the housing market.

Entities

Anses · Argentina · Banco Central de la República Argentina · Fondo de Garantía de Sustentabilidad · Luis Caputo

Claims

What the coverage asserts, and how many sources carry each claim.

[● 5 SOURCES] Government estimates indicate the program could result in 17,000 to 18,000 new mortgage operations. laboulaye.info · www.cadenamaxima.com.ar · datamarca.com · infodia.com.ar · www.ellitoral.com.ar
[● 14 SOURCES] The first auction was for $200,000 million pesos. laboulaye.info · www.cadenamaxima.com.ar · datamarca.com · infodia.com.ar · inforama.com.ar · +8 more
[● 11 SOURCES] The long-term plan intends to move up to $2 trillion pesos from the Sustainability Guarantee Fund through successive auctions. www.cadenamaxima.com.ar · datamarca.com · infodia.com.ar · inforama.com.ar · www.eleco.com.ar · +5 more
[● 6 SOURCES] Thirteen financial institutions were selected as winners in the first auction. inforama.com.ar · www.eleco.com.ar · hoydia.com.ar · laverdadonline.com · economis.com.ar · +1 more
[● 14 SOURCES] The government launched the first auction of funds from the ANSES Sustainability Guarantee Fund (FGS) to finance mortgage loans. laboulaye.info · www.cadenamaxima.com.ar · datamarca.com · infodia.com.ar · inforama.com.ar · +8 more
[● 13 SOURCES] Banks are required to offer mortgage loans with a maximum interest rate of UVA + 7.5% per year. laboulaye.info · www.cadenamaxima.com.ar · datamarca.com · infodia.com.ar · inforama.com.ar · +7 more
[● 3 SOURCES] Banks are granted a 120-day period to convert the acquired funds into mortgage loans. laboulaye.info · inforama.com.ar · www.rionegro.com.ar
[● 12 SOURCES] Individual mortgage loans are capped at a maximum of 150,000 UVA. laboulaye.info · www.cadenamaxima.com.ar · datamarca.com · infodia.com.ar · inforama.com.ar · +6 more
[● 9 SOURCES] The program could generate between 17,000 and 18,000 new mortgage operations. laboulaye.info · www.cadenamaxima.com.ar · datamarca.com · infodia.com.ar · inforama.com.ar · +4 more