 Brazils Monetary Council has authorized the central bank to lend directly to banks using credit portfolios as collateral, according to a statement posted on the central banks website regarding a decision announced on Wednesday. The temporary credit line to the banks will help the financial system deal with the strong demand for credit caused by the fallout from the coronavirus pandemic, the statement added. The central bank estimates total credit portfolios that may be used as collateral may reach 650 billion reais 124 billion. 