‘Master Loss’: what the bank collapse showed about the limits of FGC guarantees
A young woman in New York loses her investment in a collapsed Brazilian bank but recovers her funds through the credit guarantee fund, highlighting the challenges of financial investing for novices.
Major banks negotiate measures to increase the responsibility of smaller institutions after the Master crisis
Major Brazilian banks are seeking regulatory changes to hold smaller financial institutions accountable after the Master bank crisis led to significant financial losses and institutional failures.
FGC has already paid 84% of creditors of Banco Master, totaling R$ 37.2 billion
The Credit Guarantee Fund (FGC) has disbursed R$ 37.2 billion to creditors of Banco Master, accounting for 84% of total payments due.
FGC says Pleno bank has 160 thousand creditors with R$ 4.9 billion to receive in guarantees
The Credit Guarantee Fund (FGC) reported that Pleno bank has an estimated 160,000 creditors eligible for R$ 4.9 billion in guarantees following its extrajudicial liquidation.
FGC brings forward payment of up to R$ 1,000 to creditors via the Will Bank app
The Credit Guarantee Fund (FGC) has announced an advance payment of guarantees to Will Bank creditors with up to R$ 1,000, allowing around 6 million clients to receive their funds through the bank's app.
Banco do Brasil will disburse over R$ 5 billion to replenish FGC, says CFO
Banco do Brasil is set to spend more than R$ 5 billion to replenish the Credit Guarantee Fund (FGC) following the Banco Master incident, according to the bank's CFO, Geovanne Tobias.
GalÃpolo from the Central Bank speaks at a BTG Pactual event
Gabriel GalÃpolo, the president of the Central Bank of Brazil, announced new measures to enhance market supervision and improve the regulations of the Credit Guarantee Fund (FGC) following issues with Banco Master.
Central Bank to review FGC rules, says director
The Central Bank of Brazil plans to revise rules of the Credit Guarantee Fund (FGC) and introduce new regulations aimed at fraud prevention and title distribution, according to regulatory director Gilneu Vivan.
FGC reaches 89% reimbursement for Banco Master clients
The Credit Guarantee Fund (FGC) has reported that it has paid R$ 36 billion in guarantees to creditors of the Master conglomerate, equating to 89% of the total expected reimbursement, with around 628,000 beneficiaries receiving these payments.
Clients affected by Fictor create association to try to avoid a R$ 4 billion loss
Clients affected by Fictor's judicial recovery have formed an association in São Paulo to prevent an estimated R$ 4 billion loss that may impact over 13,000 contributors not covered by the Credit Guarantee Fund.
Credit Guarantee Fund estimates that it will pay 90% of Master clients by Friday (6)
The Credit Guarantee Fund expects to reimburse 90% of Master clients by the end of the week, beginning payouts to 800,000 creditors since January 19, with a total disbursement of around R$ 41 billion while warning against scams.