BICBanco SME FDIC

completed

_x000C_The project is aligned with Central Bank’s initiatives to facilitate long-term funding solutions to mid-sized banks, it aims to help reverse the recent de-leveraging effect brought on by the international financial crisis. It capitalizes on the size and depth of Brazil’s local capital markets, and complements other efforts of the Brazilian Government. In this context, BicBanco (the “Bank”) wants to continue diversifying its access to stable funding sources through market-based transactions. For this purpose, the Bank will continue to develop securitization structures through funding vehicles, such as FIDCs, the Brazilian-equivalent of a bankruptcy-remote trust in OECD environments. Accordingly, through this Project, IFC would support BicBanco in its efforts to launch FIDCs that would provide local currency funding to Small and Medium Enterprises (“SMEs”).