Latest news with #BancoMaster
Reuters
01-08-2025
- Business
- Reuters
Brazil tightens credit fund rules to limit bank risk-taking
SAO PAULO, Aug 1 (Reuters) - Brazil's National Monetary Council (CMN), the country's top economic policy body, approved on Friday fresh rules for the contributions that financial institutions associated with the country's Credit Guarantee Fund (FGC) must make to the fund. Among the changes, the CMN increased the so-called additional contribution by doubling its multiplier to 0.02%. The new rules will come into effect in June 2026. In a statement, the body said the measures aim to mitigate excessive risk-taking by the institutions. The FGC is a private nonprofit entity created to manage protection mechanisms for clients of financial institutions in the event of bank resolution. The fund has drawn renewed attention following the high-profile acquisition of lender Banco Master by BRB ( opens new tab, a deal the central bank is currently analyzing. The transaction has sparked scrutiny as it involves two similarly sized banks, with Master having grown rapidly in recent years through an aggressive funding model based on high-yield debt, backed by FGC guarantees and distributed via investment platforms. Under another new rule approved by the monetary council, any member institution deemed excessively leveraged by the technical standards established by the central bank will be required to allocate excess funds to federal government bonds, seen as safe assets, thereby limiting risk-taking in other types of investments.
Bloomberg
18-06-2025
- Business
- Bloomberg
Banco Master CEO Injects $364 Million, Easing Path to Takeover
Banco Master SA 's controlling shareholder agreed to inject 2 billion reais ($364 million) into the company in an effort to persuade regulators to approve a merger with Banco de Brasília SA, according to a person familiar with the matter. The capital increase by Chief Executive Officer Daniel Vorcaro is part of a plan negotiated between the companies and Brazil's central bank, the person said, asking not to be identified because the discussions are private.
Bloomberg
27-05-2025
- Business
- Bloomberg
BTG to Buy Assets from Banco Master, Shareholders
Banco BTG Pactual SA has reached an agreement to acquire about 1.5 billion reais ($266 million) in assets from troubled Banco Master SA and its shareholders, according to people with knowledge of the matter. The assets include the five-star Fasano hotel located in Itaim, one of São Paulo's most upscale neighborhoods, according to the people, who asked not to be identified discussing private information.
Bloomberg
16-05-2025
- Business
- Bloomberg
Batista Brothers to Back Out of Talks for Banco Master Assets
By and Gerson Freitas Jr Save Joesley and Wesley Batista, the brothers who control meat giant JBS SA through their family holding J&F Investimentos SA, are no longer in talks to acquire some of Banco Master's assets amid lingering concerns over the lender's financial stability, according to people familiar with the matter. Banco Master has been at the center of market turbulence in Brazil since it announced a merger with BRB SA, stoking concerns from the central bank and other financial companies that its potential liquidity shortfalls may require broad intervention. J&F had been in discussions with Banco Master owner Daniel Vorcaro about assets including a stake in mining company Itaminas, but ultimately deemed a deal too risky, one of the people said.
Bloomberg
10-05-2025
- Business
- Bloomberg
Brazilian Court Lifts Block on BRB Acquisition of Banco Master
A Brazilian judge revoked a court decision that blocked the planned sale of Banco Master SA to BRB SA because of an alleged failure by the banks to comply with legal requirements for an acquisition. Federal District Judge João Egmont Leoncio Lopes ruled that there is 'no real urgency or risk of irreparable damage' to justify the decision that suspended the deal earlier this week. Lopes added that the transaction depends on prior approval from regulatory bodies.
