Latest news with #Brasilia
Reuters
3 days ago
- Business
- Reuters
Brazil tightens prudential rules, adds individual liquidity requirements for banks
BRASILIA, May 30 (Reuters) - Brazil's National Monetary Council (CMN) tightened prudential rules on risk management, liquidity and capital for financial institutions, introducing individual requirements to complement existing rules for conglomerates. According to a central bank statement on Friday, the changes approved by the country's top economic policy body strengthen the stability of the financial system and align with the international Basel III regulatory framework as well as recommendations from the IMF and World Bank. The government will introduce a liquidity requirement taking effect in July 2026 for standalone financial institutions, aligning with the methodology already used for financial conglomerates. The rule will apply to institutions that are part of conglomerates classified under "Segment 1," which includes large and systemically important entities subject to stricter regulatory standards. Further changes to integrated risk management, effective in September, will seek to ensure timely liquidity transfers among institutions within the same conglomerate, the central bank said. Meanwhile, the leverage ratio calculation has been updated and expanded to cover all institutions except those with a low-risk profile. Its implementation will be phased in between July 2026 and January 2028. According to the central bank, the new requirement will apply on both consolidated and individual bases, including to payment institutions that lead large conglomerates integrated by financial institutions.
Free Malaysia Today
4 days ago
- General
- Free Malaysia Today
Lula diagnosed with vertigo-causing ear condition
Brazilians concern for president Luiz Inacio Lula da Silva's health have raised questions about his fitness to seek reelection next year. (EPA Images pic) SAO PAULO : Brazil's President Luiz Inacio Lula da Silva was diagnosed Monday with labyrinthitis, an ear condition that can cause vertigo, in the latest health setback for the 79-year-old. Lula, who was hospitalised last year for a hemorrhage under his skull caused by a bathroom fall, was examined Monday at a hospital in Brasilia before returning to the presidential residence with orders to rest, the government said. Lula has faced several health issues. He suffered from hypertension, was treated for throat cancer in 2011 with chemo- and radiotherapy, and in 2023 had a hip replaced with a prosthesis. A 2024 fall in a bathroom in his presidential residence left him with a concussion, several stitches and a hemorrhage that landed him on the operating table. When he recovered, Lula resumed a busy schedule of meetings and international trips, including to China, Russia, Vietnam, and Japan. In the latest hitch, Lula 'canceled part of his schedule' due to discomfort, a presidency source who asked not to be named, told AFP. Concerns for Lula's health have raised questions about his fitness to seek reelection in a vote next year. He has already served two terms from 2003 to 2010.
Reuters
4 days ago
- Business
- Reuters
Brazil to discuss adjustments to credit guarantee fund as reserves fall short of target
BRASILIA, May 29 (Reuters) - Brazil's Credit Guarantee Fund (FGC) should hold accounting reserves equivalent to 1% of eligible deposits but is currently at 0.35%, the fund's head Daniel Lima said on Thursday. Discussions on necessary adjustments will take place in the coming months, Lima stressed. Speaking at an event hosted by payment industry group Abipag, Lima also noted that the FGC's liquidity indicator stands at around 2.3% of eligible deposits, compared to a target range of 2.3% to 2.7%. 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 currently being analyzed by the central bank. 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 distributed via investment platforms. Lima noted that addressing potential contagion risks from mid-sized banks requires more timely access to information from each institution. The central bank said earlier this year that it would carry out a scheduled review of the FGC next year as part of its regular four-year cycle on the matter. Debt securities issued by banks are insured by the FGC up to a limit of 250,000 reais ($44,028) per financial institution.
Reuters
5 days ago
- Business
- Reuters
Brazil creates more formal jobs than expected in April
BRASILIA, May 28 (Reuters) - Brazil's economy created a net 257,528 formal jobs in April, data from the Labor Ministry showed on Wednesday, above the 175,000 expected by economists in a Reuters poll. The data accounts for 2,282,187 jobs opened and 2,024,659 closed in the period, according to the ministry. It was the highest figure for April since 2020, when the current methodology for the official series was introduced. From January to April, a net 922,362 jobs were created in Brazil, down from 965,818 a year earlier, according to adjusted data.
Washington Post
5 days ago
- General
- Washington Post
A journalist was killed while writing a book on the Amazon. Here's how friends completed his work
BRASILIA, Brazil — After British journalist Dom Phillips was shot and killed while researching an ambitious book on how to protect the world's largest rainforest, friends vowed to finish the project. Three years later, their task is complete. 'How to Save the Amazon,' published Tuesday in Brazil and England ahead of its U.S. release, was pieced together by fellow journalists who immersed themselves in Phillips' notes, outlines and the handful of chapters he'd already written. The resulting book, scheduled to be published in the U.S. on June 10, pairs Phillips' own writing with others' contributions in a powerful examination of the cause for which he gave his life.
