By Bernardo Caram

BRASILIA, Reuters – Brazil’s central bank has decided to delay payments to financial institutions in respect of resources that are held by the Pix instant pay system. This decision highlights the growing risks of striking workers despite the small impact on banks.

On Friday, the payment of interest was to be added at the bank’s Selic benchmark rates for when the funds were being held.

The central bank analysts association ANBCB stated that financial institutions won’t receive more than 2 million Reis per day (or $4422,030).

Bruno Serra Monetary Director, Monetary policy said Wednesday that workers at the central bank are executing daily partial stopspages. This will affect the performance of different processes and could go on strike starting April 1.

To preserve the security of the systems and the maintenance of essential activities ahead of the strike, Serra said it was considered appropriate to postpone the payments, adding they would be again proposed “when the issues are overcome.”

Brazil’s central bank workers voted Monday in favor of an indefinite strike beginning on April 1. This was in protest at unanswered demands for a wage rise. Partially shut downs had been the norm for the past few months, preventing data and indicators from being released.

The central bank stated that the move was intended to protect the IT system’s functionality in the face of “the possible risks” from the strike.

Febraban, a financial industry association, called this decision prudent and said that it was a result of policymakers avoiding implementing any new features during more sensitive times.

($1 = 4.7302 reais)