TCU Backs Central Bank’s Oversight as BC Flags 36 Firms in R$11.5 Billion Banco Master Scheme

Overview

• Central bank chief Gabriel Galípolo and TCU president Vital do Rêgo are set to meet Monday at 14:00 in Brasília to address procedural questions around the Banco Master liquidation.
• The BC’s November submission to prosecutors lists 36 companies tied to alleged fictitious loans and funds managed by Reag, estimates the scheme at R$11.5 billion, and requests asset freezes to preserve creditor recovery.
• TCU technical auditors reported no BC inaction and said the court is not competent to revisit the merits of the liquidation; an in‑loco inspection was suspended and sent to the plenary, whose first 2026 session is scheduled for January 21.
• Vital do Rêgo publicly stated the BC “had every reason” to liquidate Master, while noting the TCU will exercise fiscal oversight of the process rather than seek to reverse it.
• Federal police are investigating alleged paid campaigns to discredit the BC, a councilman detailed a proposal that cited Daniel Vorcaro as the sponsor, and Vorcaro’s defense petitioned the Supreme Court denying any role and asking for a probe into selective leaks.