We call diluted funds those guarantee funds established under private law and created with the participation of the Federal Government whose operations are considered to be small and diversified, i.e. the risk is diluted. They are listed below:
I – The Investments Guarantee Fund (FGI), as per Law No. 12,087 of 11 November 2009 and managed by the National Bank for Economic and Social Development (BNDES), aims to guarantee directly or indirectly the risk of loan financing provided to micro, small and medium enterprises, individual micro entrepreneurs and self-employed road hauliers for the acquisition of capital goods inherent to their activity;
II – The Low-Income Housing Guarantee Fund (FGHab), as per Law No. 11,977 of 7 July 2009, managed by Caixa Econômica Federal, aims to guarantee the payment to financial agents of monthly installments of housing loans owed by debtors in the housing financial system in the event of unemployment and temporary reduction in payment capacity, as well as to assume the outstanding balance in case of death and permanent disability and the costs of recovery related to physical damage to the property;
III – Operations Guarantee Fund (FGO), as per Law No. 12,087 of 11 November 2009, managed by Banco do Brasil SA, aims to guarantee part of the risk of loans and financing granted by financial institutions who are shareholders of the Fund to micro, small and medium enterprises, individual micro entrepreneurs and self-employed road hauliers for the acquisition of capital goods inherent to their activity.
On 24 December 2013, Decree s/nº was issued authorizing a capital increase of ABGF via the transfer of all of the Federal Government’s stakes in the Investments Guarantee Fund (FGI), the Operations Guarantee Fund (FGO), and the Low-Income Housing Guarantee Fund (FGHab).
On 4 May 2016, all shares in the FGI and FGO and part of the shares in the FGHab belonging to the Federal Government were transferred to ABGF, increasing its share capital to R$ 2.071 billion.