After the liquidation of Banco Master, which will require the recovery of R$ 41 billion to investors by the FGC (Credit Guarantee Fund), the spotlight has been put on the fund’s guarantee for the sale of financial investments, said correspondent Natalia Garcia in this Thursday (27) edition of C-Level Call.
“The marketing issue is a point of interest. Let’s see if the institutions will act and if there will be any kind of pressure on the central bank (for changes),” the reporter said. Bound In Brasilia.
Master settled on the 19th of this month, and used the FGC guarantee – a bank-fueled fund covering investments of up to R$250,000 – as an inducement to sell extremely high-yielding securities.
The Fund will now have to spend a record amount to meet the commitments made by the Daniele Forcaro Foundation.
For correspondent Diana Tomaselli, another interesting point is the fictitious credit portfolios that, according to federal police investigations, were sold by Master to the BRB (Banco de Brasília).
“Investigations will seek to find out whether Master sold wind energy credit portfolios to other financial institutions (in addition to the BRB),” Tomaselli said. “It would be interesting to see if any other official financial institution affiliated with the federal government has purchased these wallets.”
In October, the Federal Court of Audit (TCU) decided to fine Igor Macedo Laino, former director of Caixa Asset – Caixa’s investment fund management arm – R$10,000 for trying to approve the purchase of R$500 million worth of securities from Banco Master.
Rapporteur Antonio Anastasia understood that Laino ignored the technical opinions and criticisms of specialized units that pointed to low liquidity, excessive conditions, unusual concentration and the need for additional evaluations on the process with Banco Master.
State-owned enterprises are a hot topic within the government
According to correspondent Diana Tomaselli, the financial situation of federal state-owned companies – such as Eletronuclear, Correios and Casa da Moeda – has become a problem to be avoided within the federal government.
Federal state-owned enterprises faced a deficit larger than the target set in the 2025 Budget Guidance Law, which will require additional compensation from the treasury of about R$3 billion this year, according to a Planning and Budget Ministry report.
“I spoke to an economic technician who follows this issue, and he commented that this is a hot topic, and no one wants to talk about it,” the reporter said after citing the case of Eletronuclear, which looks after the Angra 1 and 2 stations. “People familiar with the company’s situation say it’s not a question of if it will collapse, but when it will collapse.”
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