Renda fixa | O que é CDB, CDI, SELIC, LCA, LCI, LC, IPCA?

Summary

In this video, Bruno Perini simplifies key financial terms for beginners entering the financial market. He explains the meaning of common investment terms like CDB (Certificate of Deposit), CDI (Interbank Deposit Certificate), FGC (Credit Guarantee Fund), and Tesouro SELIC, while highlighting their features, risks, and benefits. Perini discusses how these investments work, their tax implications, and the role of liquidity and security in financial decisions. His goal is to make these complex concepts clearer and more accessible to those just starting out in the world of investments.

Takeaways

• 😀 The financial market can be confusing for beginners due to the numerous acronyms and terms, especially in fixed-income investments like CDBs and Tesouro SELIC.
• 😀 A CDB (Certificate of Deposit) is a type of investment where you lend money to a bank for a defined period, in exchange for interest.
• 😀 CDBs can be post-fixed, tied to the CDI (Interbank Deposit Certificate) rate, which typically follows the SELIC rate, or can be linked to inflation (IPCA).
• 😀 The CDI represents the interest rate banks charge each other for short-term loans, and is used as a benchmark for many financial products, including CDBs.
• 😀 The SELIC rate is the Brazilian central bank’s key interest rate and is used to control inflation, influencing the economy by making credit more expensive or cheaper.
• 😀 Tesouro SELIC is a government bond that follows the SELIC rate and is a popular low-risk investment for individuals in Brazil.
• 😀 A key feature of CDBs and other fixed-income investments is the FGC (Credit Guarantee Fund), which provides insurance for investors in case a bank fails, up to 250,000 BRL per CPF per institution.
• 😀 Investments in CDBs are relatively safe, but the FGC only applies to smaller institutions and may not cover large financial crises if several banks fail simultaneously.
• 😀 LCI (Real Estate Letter of Credit) and LCA (Agribusiness Letter of Credit) are similar to CDBs but are linked to specific sectors like real estate or agribusiness and are exempt from taxes.
• 😀 Other riskier fixed-income investments include CRI (Real Estate Receivables Certificate) and CRA (Agribusiness Receivables Certificate), which are not covered by the FGC and are subject to more risk.
• 😀 The FGC covers up to 1 million BRL per investor, but this only applies if the fund has sufficient resources, and it can take up to 90 days for the compensation process to be completed in case of a bank failure.

Q & A

What does CDB stand for, and how does it work?

CDB stands for Certificado de Depósito Bancário (Certificate of Bank Deposit). It is an investment where you lend money to a bank in exchange for interest. The interest rate can be pre-fixed, post-fixed (linked to the CDI rate), or indexed to inflation (IPCA).

What is CDI, and why is it important in CDB investments?

CDI stands for Certificado de Depósito Interbancário (Interbank Deposit Certificate). It is the rate at which banks lend to one another. The CDI is important because many CDBs are post-fixed to it, meaning the CDB's returns are tied to this rate, which in turn is influenced by the Central Bank's Selic rate.

What is Tesouro Selic, and how does it relate to other investments?

Tesouro Selic is a government-backed security that tracks the Selic rate, which is the benchmark interest rate set by the Central Bank of Brazil. It is considered a low-risk investment, especially when compared to other fixed-income options like CDBs or LCIs.

What is the role of FGC (Fundo Garantidor de Crédito) in protecting investments?

The FGC is a private institution created by banks to guarantee deposits and investments up to R$250,000 per person, per bank. It provides a safety net if a bank goes bankrupt, ensuring that investors are compensated for their losses within certain limits.

What types of investments are covered by the FGC?

The FGC covers investments like CDBs, LCIs, and LCAs, but it does not cover more complex instruments like CRIs, CRAs, or corporate bonds (debêntures), which carry higher risks and are not backed by the FGC.

How do LCIs and LCAs differ from CDBs, and what are their tax advantages?

LCIs (Letra de Crédito Imobiliário) and LCAs (Letra de Crédito do Agronegócio) are similar to CDBs in that they are also fixed-income investments. However, they are exempt from income tax, unlike CDBs, which are taxed based on the investor's holding period. LCIs and LCAs are linked to the real estate and agribusiness sectors, respectively.

What are CRIs and CRAs, and how do they differ from other fixed-income investments?

CRIs (Certificados de Recebíveis Imobiliários) and CRAs (Certificados de Recebíveis do Agronegócio) are certificates linked to the real estate and agribusiness sectors. Unlike CDBs or LCIs, they are not covered by the FGC and are considered riskier investments due to their direct exposure to the performance of companies in these sectors.

What factors determine the interest rate on a CDB investment?

The interest rate on a CDB can be determined by various factors, including whether it is pre-fixed, post-fixed (linked to the CDI), or indexed to inflation (IPCA). Other factors such as the liquidity and maturity of the CDB can also influence the return.

Why are CDBs linked to the CDI, and how does the CDI impact returns?

CDBs are often linked to the CDI because it is the rate that banks use to lend money to each other. Since the CDI is closely tied to the Central Bank's Selic rate, CDB returns generally follow the direction of the Selic rate, making it a reliable benchmark for returns.

What risks are associated with investing in financial products like CRIs, CRAs, and debêntures?

Investing in CRIs, CRAs, and debêntures carries more risk than traditional CDBs or LCIs because these products are not backed by the FGC. Investors are directly exposed to the credit risk of the companies or sectors they are investing in, and these products may be harder to sell in secondary markets, especially in times of economic crisis.