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92</head>
93<body><div class="autowrapper">
94    <div id="autocomplete_container" class="hide">
95        <ul></ul>
96    </div>
97</div>
98<!-- =========== TOPO ===================== -->
99<header class="topo row">
100	<div id="wrapperResponsivo" class="hide animated menu_ext">
101				<nav class="menuAccessResponsivo animated hide" id="menuAccessResponsivoId">
102			<ul>
103								
104									
105				<li>
106
107						<a  class="hasSub" >
108							Institucional / About us						</a>
109												<ul>
110														<li>
111								<a
112																								href="https://www.abecip.org.br/institucional-about-us/a-abecip"
113																								>
114								A ABECIP							</a>
115							
116				</li>
117											<li>
118								<a
119																								href="https://www.abecip.org.br/institucional-about-us/associados"
120																								>
121								Associados							</a>
122							
123				</li>
124											<li>
125								<a
126																class="hasSub"
127																>
128								Publicações Abecip							</a>
129														<ul class="ul-child">
130																<li>
131									<a
132																		href="https://www.abecip.org.br/institucional-about-us/publicacoes-abecip/livros"
133																		>
134									Livros								</a>
135							</li>
136													</ul>
137						
138					
139				</li>
140											<li>
141								<a
142																class="hasSub"
143																>
144								About Us							</a>
145														<ul class="ul-child">
146																<li>
147									<a
148																		href="https://www.abecip.org.br/institucional-about-us/about-us/the-association"
149																		>
150									The Association								</a>
151							</li>
152															<li>
153									<a
154																		href="https://www.abecip.org.br/institucional-about-us/about-us/activities"
155																		>
156									Activities								</a>
157							</li>
158													</ul>
159						
160					
161				</li>
162											<li>
163								<a
164																class="hasSub"
165																>
166								Sobre Nosostros							</a>
167														<ul class="ul-child">
168																<li>
169									<a
170																		href="https://www.abecip.org.br/institucional-about-us/sobre-nosostros/la-entidad"
171																		>
172									La Entidad								</a>
173							</li>
174															<li>
175									<a
176																		href="https://www.abecip.org.br/institucional-about-us/sobre-nosostros/actuacion"
177																		>
178									Actuación								</a>
179							</li>
180													</ul>
181						
182					
183				</li>
184											<li>
185								<a
186																								href="https://www.abecip.org.br/institucional-about-us/termos-de-uso"
187																								>
188								Termos de Uso							</a>
189							
190				</li>
191											<li>
192								<a
193																								href="https://www.abecip.org.br/institucional-about-us/politica-de-privacidade"
194																								>
195								Política de Privacidade							</a>
196							
197				</li>
198							</ul>
199					</li>
200						
201									
202				<li>
203
204						<a  class="hasSub" >
205							Crédito Imobiliário						</a>
206												<ul>
207														<li>
208								<a
209																								href="https://www.abecip.org.br/credito-imobiliario/autorregulacao"
210																								>
211								Autorregulação							</a>
212							
213				</li>
214											<li>
215								<a
216																								href="https://www.abecip.org.br/credito-imobiliario/calculadora-de-poupanca-pf"
217																								>
218								Calculadora de Poupança PF							</a>
219							
220				</li>
221											<li>
222								<a
223																								href="https://www.abecip.org.br/credito-imobiliario/historia"
224																								>
225								História							</a>
226							
227				</li>
228											<li>
229								<a
230																class="hasSub"
231																>
232								Indicadores							</a>
233														<ul class="ul-child">
234																<li>
235									<a
236																		href="https://www.abecip.org.br/credito-imobiliario/indicadores/caderneta-de-poupanca"
237																		>
238									Caderneta de Poupança								</a>
239							</li>
240															<li>
241									<a
242																		href="https://www.abecip.org.br/credito-imobiliario/indicadores/financiamento"
243																		>
244									Financiamento								</a>
245							</li>
246															<li>
247									<a
248																		href="https://www.abecip.org.br/credito-imobiliario/indicadores/cgi"
249																		>
250									CGI								</a>
251							</li>
252													</ul>
253						
254					
255				</li>
256											<li>
257								<a
258																								href="https://www.abecip.org.br/credito-imobiliario/manual-de-melhores-praticas"
259																								>
260								Manual de Melhores Práticas							</a>
261							
262				</li>
263							</ul>
264					</li>
265						
266									
267				<li>
268
269						<a  class="hasSub" >
270							IGMI-R ABECIP						</a>
271												<ul>
272														<li>
273								<a
274																								href="https://www.abecip.org.br/igmi-r-abecip/caracteristicas-do-indice"
275																								>
276								Características do Índice							</a>
277							
278				</li>
279											<li>
280								<a
281																								href="https://www.abecip.org.br/igmi-r-abecip/apresentacao-igmi-r-abecip"
282																								>
283								Apresentação IGMI-R ABECIP							</a>
284							
285				</li>
286											<li>
287								<a
288																								href="https://www.abecip.org.br/igmi-r-abecip/mes-a-mes"
289																								>
290								Mês a mês							</a>
291							
292				</li>
293											<li>
294								<a
295																								href="https://www.abecip.org.br/igmi-r-abecip/serie-historica"
296																								>
297								Série Histórica							</a>
298							
299				</li>
300							</ul>
301					</li>
302						
303									
304				<li>
305
306						<a  class="hasSub" >
307							Certificação						</a>
308												<ul>
309														<li>
310								<a
311																								href="https://www.abecip.org.br/certificacao/exames"
312																								>
313								Exames							</a>
314							
315				</li>
316							</ul>
317					</li>
318						
319									
320				<li>
321
322						<a  href="https://www.abecip.org.br/educacao-corporativa">
323							Abecip Educação						</a>
324								</li>
325						
326									
327				<li>
328
329						<a  class="hasSub" >
330							Imprensa						</a>
331												<ul>
332														<li>
333								<a
334																								href="https://www.abecip.org.br/imprensa/informativos-mensais"
335																								>
336								Informativos mensais							</a>
337							
338				</li>
339											<li>
340								<a
341																								href="https://www.abecip.org.br/imprensa/coletivas"
342																								>
343								Coletivas							</a>
344							
345				</li>
346											<li>
347								<a
348																								href="https://www.abecip.org.br/listagem/imprensa/noticias"
349																								>
350								Notícias							</a>
351							
352				</li>
353							</ul>
354					</li>
355						
356								
357									
358				<li>
359
360						<a  class="hasSub" >
361							Eventos						</a>
362												<ul>
363														<li>
364								<a
365																								href="https://www.abecip.org.br/eventos/seminarios-abecip"
366																								>
367								Seminários Abecip							</a>
368							
369				</li>
370											<li>
371								<a
372																class="hasSub"
373																>
374								Prêmios							</a>
375														<ul class="ul-child">
376																<li>
377									<a
378																		href="https://www.abecip.org.br/eventos/premios/jornalismo"
379																		>
380									Jornalismo								</a>
381							</li>
382													</ul>
383						
384					
385				</li>
386							</ul>
387					</li>
388						
389									
390				<li>
391
392						<a  class="hasSub" >
393							Como se Associar						</a>
394												<ul>
395														<li>
396								<a
397																								href="https://www.abecip.org.br/como-se-associar/solicitacao"
398																								>
399								Solicitação							</a>
400							
401				</li>
402							</ul>
403					</li>
404			</ul>
405</nav>
406
407<fieldset class="searchmob animated hide">
408	<form enctype="multipart/form-data"  action="https://www.abecip.org.br/resultado" method="get" id="form_pesquisa" name="form_pesquisa">
409		<label for="">PESQUISAR |</label>
410		<input type="text" id="complete" name="busca_mob" autocomplete="off">
411		<input type="submit" value="">
412	</form>
413</fieldset>
414
415<fieldset class="loginmob animated hide">
416	<form action="https://www.abecip.org.br/login" method="post" class="form_login" name="form_login_mob">
417		<input type="text" name="login_email_mob_pass" id="login_email_mob_pass" placeholder="Digite seu e-mail" />
418        <input type="text" name="login_email_mob" id="login_email_mob" class="control_moddata no-label login_email_mob" placeholder="E-mail" data-validation="required|email" />
419        <input type="password" name="login_senha_mob" id="login_senha_mob" class="control_moddata no-label" placeholder="Senha" data-validation="required" />
420		<a href="javascript:void(0);" class="btn_mob_voltar">VOLTAR</a>
421		<div style="float:left;width:100%;clear:both;margin-top: 1rem;">
422			<input type="submit" class="submit_send_mobile" value="Enviar">
423            <button class="submit_pass_mobile" value="Enviar" style="display: none;">Enviar</button>
424			<span style="margin-right: 1em;" id="btn_passforg_mob"><a href="https://www.abecip.org.br/area-restrita/esqueci-minha-senha">Esqueci a senha</a></span>
425			<span><a href="https://www.abecip.org.br/area-restrita/cadastre-se">CADASTRE-SE</a></span>
426		</div>
427	</form>
428</fieldset>
429</div>
430
431<div class="container">
432	<div class="logo left">
433		<a href="https://www.abecip.org.br/" title="Abecip"><img src="https://www.abecip.org.br/assets/images/logo.png" alt=""></a>
434	</div>
435	
436	<div class="right_top_test">
437	
438	<!-- TOPO QUANDO O USUARIO ESTÁ LOGADO -->
439	
440	<!-- TOPO QUANDO O USUARIO NÃO ESTÁ LOGADO -->
441			<div class="top_access mob_top right">
442			<div class="search_top_container desk">
443				<form enctype="multipart/form-data" action="https://www.abecip.org.br/resultado" method="get" id="form_pesquisa" name="form_pesquisa">
444					<fieldset>
445						<input type="text" autocomplete="off" name="busca" placeholder="PESQUISAR" class="typeahead">
446						<input type="submit" style="display: none;"/>
447					</fieldset>
448				</form>
449				<div id="autocomplete_container" class="hide">
450					<ul></ul>
451				</div>
452			</div>
453			
454            <div class="user_area" id="link-area-associado">
455                <span>
456                    <a href='javascript:;'>ÁREA DO ASSOCIADO</a>
457                </span>
458            </div>			
459
460			<div class="menu_login desk" id="box-login-area-associado" style="display:none;">
461				<form action="https://www.abecip.org.br/login" method="post"  class="form_login" name="form_login">
462					<input type="text" placeholder="Digite seu e-mail para recuperar a sua senha" name="login_email_pass" id="login_email_pass" class="no-label">
463					<input type="text" placeholder="E-mail" name="login_email" id="login_email"  class="no-label control_data" data-validation="required|email">
464					<input type="password" placeholder="Senha" name="login_senha" id="login_senha"  class="no-label control_data" data-validation="required">
465					<input type="submit" class="submit_send" value="">
466                    <button class="submit_pass" value=""></button>
467				</form>
468			</div>
469
470			<div class="login_helper desk" style="display:none;">
471				<a href="javascript:void(0);" id="pass_forg_back">Voltar</a>
472				<a href="javascript:void(0);" id="pass_forg_link">Esqueci a senha</a>
473				<a href="https://www.abecip.org.br/area-restrita/cadastre-se">Cadastre-se</a>
474			</div>
475
476			<div class="menu_access_mob mob_2">
477				<input type="checkbox" 	id="search_btn" class="testing">
478				<label for="search_btn" class="search_btn"></label>
479
480				<input type="checkbox" 	id="login_btn">
481				<label for="login_btn" 	class="login_btn"></label>
482
483				<input type="checkbox"  id="menu_btn">
484				<label for="menu_btn"  class="menu_btn"></label>
485			</div>
486		</div>
487	
488		
489	<!-- NAVEGAÇÃO -->
490	<nav class="top_menu desk">
491		<ul>
492						
493				
494						
495			
496			<li class="main_parent">
497				<a >
498					Institucional / About us				</a>
499								<ul class="ul-father">
500										<li class="m-l0">
501						<a
502																								href="https://www.abecip.org.br/institucional-about-us/a-abecip"
503																					>
504						A ABECIP					</a>
505								</li>
506								<li class="m-l0">
507						<a
508																								href="https://www.abecip.org.br/institucional-about-us/associados"
509																					>
510						Associados					</a>
511								</li>
512								<li class="m-l0">
513						<a
514													>
515						Publicações Abecip					</a>
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801                                    <span class="date">01/01/2016</span>
802                                <div class="actions_1">
803
804                    
805                                    </div>
806                <h2>The Association</h2>
807                				    <span class="resenha">The Brazilian Association of Real Estate Loans and Savings Companies (Associação Brasileira das Entidades de Crédito Imobiliário e Poupança - Abecip) was set up in the First National Meeting of the Real Estate Loans and Savings Companies. </span>
808                            </header>
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810            <!-- GALERIA -->
811
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814	                            <p  style="text-align: justify;" class="p_style_1">The Brazilian Association of Real Estate Loans and Savings Companies (Associa&ccedil;&atilde;o Brasileira das Entidades de Cr&eacute;dito Imobili&aacute;rio e Poupan&ccedil;a - Abecip) was set up in the First National Meeting of the Real Estate Loans and Savings Companies. The meeting was held in S&acirc;o Paulo`s Club Nacional, from August 17 to August 19, 1967, and was attended by representatives of 34 companies. The climax of the meeting was the creation of the Association. The pioneers of the real estate finance industry in Brazil - the partners and directors of Real Estate Credit Societies (SCIs) and Savings and Loan Association (APEs) - participated of the meeting, as well as lawyers, developers and realtors.</p>
815<p  style="text-align: justify;" class="p_style_1"><br />Just three years before that meeting, a new and wide-ranged housing finance model had been introduced in Brazil - the Housing Finance System (Sistema Financeiro da Habita&ccedil;&atilde;o (SFH). The SFH and Abecip histories followed a common trajectory. Before the SFH, housing finance depended on scarce budget funds and privileged only few households. Until 1964, there were no monetary correction and real interest rates - which were introduced by the new model - and therefore, no return on the invested capital.</p>
816<p  style="text-align: justify;" class="p_style_1"><br />Abecip was set up as a non-profit private organization, to represent the real estate finance industry, gathering the financial institutions of the SFH, the Brazilian System of Savings and Loans (Sistema Brasileiro de Poupan&ccedil;a e Empr&eacute;stimo - SBPE) and, as of 1997, the Real Estate Financing System (Sistema de Financiamento Imobili&aacute;rio -SFI). This position allowed the Association to carry out its activities on a national scale and on a comprehensive and efficient manner.</p>
817<p  style="text-align: justify;" class="p_style_1"><br />The Association was created to participate in the new housing policy and to respond to the challenge of meeting the demand for housing of the emerging middle class and low income population. There was an enormous unexplored market at that time and the Association wanted to be present in its development.</p>
818<p  style="text-align: justify;" class="p_style_1"><br />The founders' goal, which is being followed to these days, was to play a key role in structuring the country's real estate finance. This was carried out throughout the over four decades of its existence. The Association's aim is ambitious: to contribute towards molding the institutional architecture of real estate finance, fulfilling the protagonist role in the process.</p>
819<p  style="text-align: justify;" class="p_style_1"><br />The initiative was successful. The Association played a key role in the organization of the private real estate financing businesses and in the discussion of the agenda and of the rules required for the comprehensive system to work properly.</p>
820<p  style="text-align: justify;" class="p_style_1"><br />Throughout the SFH history, the Association also played a key role as a link between private businesses and the government. This was essential, for example, in the initial stage of the SFH, a complex model created in 1964 by ministers Roberto de Oliveira Campos and Oct&aacute;vio Gouv&ecirc;a de Bulh&otilde;es, in the first year of the Castello Branco administration (1964-67). The SFH was a testing ground for monetary correction. Without monetary correction, no long term financing system was able to strive with inflation, the largest anomaly of the Brazilian economy, which was only defeated three decades after the introduction of the SFH, with the Plano Real of 1994.</p>
821<p  style="text-align: justify;" class="p_style_1"><br />The SFH was conceived on sound pillars. It was based on a second-line financial institution with regulatory powers, the National Housing Bank (Banco Nacional da Habita&ccedil;&atilde;o - BNH). The SFH operated through housing cooperatives (Cohab's), savings banks, APEs and SCIs (commercial banks entered this market only during the eighties). And it had mechanisms to prevent temporary disequilibria in the borrowers' economic life, such as a fund to compensate for wage adjustment and monetary correction mismatches (the Fundo de Compensa&ccedil;&atilde;o de Varia&ccedil;&otilde;es Salariais - FCVS).</p>
822<p  style="text-align: justify;" class="p_style_1"><br />Up to the mid-seventies, whilst inflation was moderate according to the standards of that time, the SFH registered a successful history. The system was based on a strong BNH, savings banks, SCIs and APEs fund raising structure, based on real estate bills and on savings accounts - the latter being very successful - and a huge institutional advertising campaign. At the same time, a mandatory savings deposit based on workers' wages (the Fundo de Garantia do Tempo de Servi&ccedil;o - FGTS) was introduced to help develop the SFH. Thus a large spectrum housing finance system was made feasible, which up to the end of the seventies had financed 2.5 million homes. Today this number has now reached 8 million.</p>
823<p  style="text-align: justify;" class="p_style_1"><br />However, as high inflation resumed in the mid-seventies, the SFH started to face problems. The basic elements of long term prosperity - economic growth, formal employment and social mobility - were missing.<br />During the eighties, with the exhaustion of the system due to an erratic subsidy policy granted to households that did not need them, the housing finance model had to be radically reformulated. And Abecip played again a key role in this process.</p>
824<p  style="text-align: justify;" class="p_style_1"><br />The combination of political pressures with economic populism unsteadied the housing finance model. In an effort to hide its own limitations, the government closed down the BNH in 1986, transferring its regulatory role to the Central Bank.</p>
825<p  style="text-align: justify;" class="p_style_1"><br />But this was not enough. The system had to be reformulated first, to separate the market segment - the SBPE - which uses savings deposit funds, from the social system, which depen
825ds on subsidies, budget funds and FGTS funds.</p>
826<p  style="text-align: justify;" class="p_style_1"><br />To strengthen the regulatory framework, ensure safety to credit operations and foster the secondary market for real estate assets, Abecip promoted hundreds of meetings, seminars, workshops, national and international conferences, to seek, in the international experience, the best solutions to improve the domestic real estate finance model. The period comprising the end of the eighties to the mid-nineties was a period of studies and debates, which counted with the contribution of well-known specialists, like ex-Finance Minister M&aacute;rio Henrique Simonsen and ex-Central Bank President Gustavo Loyola. As a result of these efforts, the Real Estate Financing System (Sistema de Financiamento Imobili&aacute;rio - SFI) was created in 1997 by Law 9514 and complemented later by Law 10931. The SFI introduced securitization of real estate receivables and loans in Brazil, created the real estate property trust sale mechanism (aliena&ccedil;&atilde;o fiduci&aacute;ria) and subsequently the separate equity regime (patrim&ocirc;nio de afeta&ccedil;&atilde;o). Meanwhile, a long way was trailed to eliminate past problems of the SFH, such as restoring the equilibrium of the FGTS fund and solving the huge outstanding balance of the FCVS fund. The golden years of real estate finance made a comeback in the 2007/2009 period. The SBPE financing operations reached historical records in 2009 - over 300 thousand loans were granted, with disbursements totaling some BRL 34 billion.</p>
827<p  style="text-align: justify;" class="p_style_1"><br />The Association's head office and forum are in the city of S&atilde;o Paulo. The management and the technical and administrative structure of the Association are located on Avenida Brigadeiro Faria Lima, 1485, Torre Norte, 13th floor, Phone number (11) 3286-4855.</p>            </div>
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983																							</li>
984																					<li >
985												<a
986																																													href="https://www.abecip.org.br/credito-imobiliario/calculadora-de-poupanca-pf"
987																																									>
988													Calculadora de Poupança PF												</a>
989																							</li>
990																					<li >
991												<a
992																																													href="https://www.abecip.org.br/credito-imobiliario/historia"
993																																									>
994													História												</a>
995																							</li>
996																					<li class="hasSubFooter">
997												<a
998																										>
999													Indicadores												</a>
1000																									<ul>
1001																													<li>
1002																<a
1003																																					href="https://www.abecip.org.br/credito-imobiliario/indicadores/caderneta-de-poupanca"
1004																																		>
1005																	Caderneta de Poupança																</a>
1006															</li>
1007																													<li>
1008																<a
1009																																					href="https://www.abecip.org.br/credito-imobiliario/indicadores/financiamento"
1010																																		>
1011																	Financiamento																</a>
1012															</li>
1013																													<li>
1014																<a
1015																																					href="https://www.abecip.org.br/credito-imobiliario/indicadores/cgi"
1016																																		>
1017																	CGI																</a>
1018															</li>
1019																											</ul>
1020																							</li>
1021																					<li >
1022												<a
1023																																													href="https://www.abecip.org.br/credito-imobiliario/manual-de-melhores-praticas"
1024																																									>
1025													Manual de Melhores Práticas												</a>
1026																							</li>
1027																			</ul>
1028															</nav>
1029																								<nav class="bloco_menu_footer">
1030								<span><a >IGMI-R ABECIP</a></span>
1031																	<ul>
1032																					<li >
1033												<a
1034																																													href="https://www.abecip.org.br/igmi-r-abecip/caracteristicas-do-indice"
1035																																									>
1036													Características do Índice												</a>
1037																							</li>
1038																					<li >
1039												<a
1040																																													href="https://www.abecip.org.br/igmi-r-abecip/apresentacao-igmi-r-abecip"
1041																																									>
1042													Apresentação IGMI-R ABECIP												</a>
1043																							</li>
1044																					<li >
1045												<a
1046																																													href="https://www.abecip.org.br/igmi-r-abecip/mes-a-mes"
1047																																									>
1048													Mês a mês												</a>
1049																							</li>
1050																					<li >
1051												<a
1052																																													href="https://www.abecip.org.br/igmi-r-abecip/serie-historica"
1053																																									>
1054													Série Histórica												</a>
1055																							</li>
1056																			</ul>
1057															</nav>
1058																								<nav class="bloco_menu_footer">
1059								<span><a >Certificação</a></span>
1060																	<ul>
1061																					<li >
1062												<a
1063																																													href="https://www.abecip.org.br/certificacao/exames"
1064																																									>
1065													Exames												</a>
1066																							</li>
1067																			</ul>
1068															</nav>
1069																																			<nav class="bloco_menu_footer">
1070								<span><a >Imprensa</a></span>
1071																	<ul>
1072																					<li >
1073												<a
1074																																													href="https://www.abecip.org.br/imprensa/informativos-mensais"
1075																																									>
1076													Informativos mensais												</a>
1077																							</li>
1078																					<li >
1079												<a
1080																																													href="https://www.abecip.org.br/imprensa/coletivas"
1081																																									>
1082													Coletivas												</a>
1083																							</li>
1084																					<li >
1085												<a
1086																																													href="https://www.abecip.org.br/listagem/imprensa/noticias"
1087																																									>
1088													Notícias												</a>
1089																							</li>
1090																			</ul>
1091															</nav>
1092																								<nav class="bloco_menu_footer">
1093								<span><a >Contato</a></span>
1094																	<ul>
1095																					<li >
1096												<a
1097																																													href="https://www.abecip.org.br/contato/fale-conosco"
1098																																									>
1099													Fale conosco												</a>
1100																							</li>
1101																					<li >
1102												<a
1103																																													href="https://www.abecip.org.br/contato/perguntas-frequentes"
1104																																									>
1105													Perguntas Frequentes												</a>
1106																							</li>
1107																			</ul>
1108															</nav>
1109																								<nav class="bloco_menu_footer">
1110								<span><a >Eventos</a></span>
1111																	<ul>
1112																					<li >
1113												<a
1114																																													href="https://www.abecip.org.br/eventos/seminarios-abecip"
1115																																									>
1116													Seminários Abecip												</a>
1117																							</li>
1118																					<li class="hasSubFooter">
1119												<a
1120																										>
1121													Prêmios												</a>
1122																									<ul>
1123																													<li>
1124																<a
1125																																					href="https://www.abecip.org.br/eventos/premios/jornalismo"
1126																																		>
1127																	Jornalismo																</a>
1128															</li>
1129																											</ul>
1130																							</li>
1131																			</ul>
1132															</nav>
1133																								<nav class="bloco_menu_footer">
1134								<span><a >Como se Associar</a></span>
1135																	<ul>
1136																					<li >
1137												<a
1138																																													href="https://www.abecip.org.br/como-se-associar/solicitacao"
1139																																									>
1140													Solicitação												</a>
1141																							</li>
1142																			</ul>
1143															</nav>
1144											
1145																																																														<nav class="bloco_menu_footer">
1146								<span><a href="https://www.abecip.org.br/educacao-corporativa">Abecip Educação</a></span>
1147															</nav>
1148																																																											</div>
1149			
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