Overview
- Celina Leão, who met Central Bank president Gabriel Galípolo on Thursday with BRB chief Nelson de Souza, said liquidation is off the table and a technical fix is underway, adding that customers should not worry about their accounts.
- The current plan centers on a roughly R$6.6 billion loan from the Credit Guarantee Fund and partner banks, which could get cheaper if the National Treasury agrees to guarantee it.
- The deal is not closed as the DF government compiles data the Treasury requested after calling its guarantee filing incomplete, and Leão is seeking an audience with President Lula.
- Local lawmakers have authorized the loan, yet opposition lawsuits aim to block the package, and without a federal guarantee the DF government’s own assets would secure the borrowing.
- The crisis stems from BRB’s R$12.2 billion purchase of Master-linked loan portfolios flagged for fraud, with about R$6 billion deemed hard to collect, and police have arrested former president Paulo Henrique Costa over alleged real-estate kickbacks tied to the deals.