Central Bank Extends Inquiry Into Master Group for 120 Days

Overview

• The Central Bank formally extended its administrative inquiry into the Master financial conglomerate by 120 days, with the extension effective from June 23, 2026.
• The probe covers six group entities: Banco Master, Banco Master de Investimento, Banco Letsbank, Master Corretora, Will Financeira and Banco Master Múltiplo.
• All of the named institutions remain under resolution: five in extrajudicial liquidation and Banco Master Múltiplo in a Regime de Administração Especial Temporária where executives are removed but operations continue.
• Regulators opened the measures after a severe liquidity crisis, a marked deterioration in the conglomerate’s financial position and alleged serious violations of Brazil’s financial rules; the original Banco Master liquidation and the owner’s first arrest occurred on November 18, 2025 and Will Bank was liquidated in January 2026.
• The extension gives the Central Bank more time to coordinate with prosecutors, trace assets, pursue sanctions and manage creditor and customer protections through resolution tools that aim to limit fallout for the financial system.