Central Bank Governor Gabriel Galípolo met with the President of the Bank of Brasília (BRB), Nelson Antônio de Souza, this Monday (27). The meeting, held behind closed doors, takes place during a critical period for the financial institution, which is seeking to make viable a R$ 6.6 billion bailout package to mitigate losses arising from operations with Banco Master.
The meeting also featured the participation of Ailton de Aquino Santos, Director of Supervision at the Central Bank, and Ana Paula Teixeira de Sousa, Director of Control and Risks at BRB. Although the official agenda classified the meeting as dealing with "institutional matters," the presence of the risk director comes amid the bank's restructuring process.
The financial rescue package, already approved by the Federal Supreme Court (STF), depends on bureaucratic and financial steps to be finalized. Among the pending requirements are the signing of contracts with the Credit Guarantee Fund (FGC), the formalization of counter-guarantees with the Union, and the completion of independent financial audits.
In addition to technical requirements, the operation faces impasses among private banks, which are requesting that Caixa Econômica Federal and Banco Brasil assume default risks. Concurrently, BRB is dealing with liquidity difficulties, evidenced by the recent cancellation of a R$ 15 billion agreement with asset manager Quadra Capital, which aimed to swap low-liquidity assets for cash resources.
Another relevant obstacle to the release of funds is the pending publication of BRB's financial statements regarding the 2025 fiscal year. The absence of the balance sheet has resulted in sanctions and fines applied by the Central Bank to the institution.
BRB's financial crisis was underscored by statements from Treasury Secretary Dario Durigan, who pointed out the compromise of the bank's equity due to the acquisition of low-quality portfolios linked to Banco Master. According to the minister, the operations resulted in billion-dollar losses for the Brasília-based institution.
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