Brazil’s Banking Crisis Worsens as Banco Pleno Follows Banco Master
Hey Digital Banking Fanatic!
Brazil’s central bank just liquidated Banco Pleno.
Another institution tied to Banco Master.
And another escalation in the country’s biggest banking fraud probe. 👀👇
Pleno held just 0.04% of system assets. Small on paper. But 160,000 creditors are affected. Up to R$4.9 billion linked to the case.
This didn’t come out of nowhere. Banco Master was liquidated in November. Executives were arrested. Allegations of fabricated credit instruments and distribution to investors.
The ripple effects are still spreading...
And the pressure lands on the FGC deposit insurance fund. Itaú estimates the Master impact alone could reach R$55 billion. That bill will be replenished by Brazil’s banks. And that matters.
The cleanup phase is gaining speed. I’ll map the next implications for the sector very soon. Keep scrolling for more updates! 👇
Cheers,
INSIGHTS
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NEWS
🇧🇷 Brazilian regulator liquidates bank with ties to Banco Master. Brazil's central bank liquidated Banco Pleno SA due to a deteriorated liquidity situation and violation of central bank decisions. The central bank also liquidated Pleno Distribuidora de Títulos e Valores Mobiliários SA, and blocked assets from controlling shareholders and management.
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