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.
With Pleno, the case amount for FGC exceeds R$ 50 billion
The extrajudicial liquidation of Banco Pleno raises the total compensation amount for the FGC related to the Master case to R$ 51.8 billion.
Liquidations of Master, Will Bank and Pleno Banks will leave a deficit of more than R$ 50 billion in the FGC
The liquidation of Master, Will Bank, and Pleno banks is expected to cost the FGC around R$ 51.8 billion in payouts to affected clients and investors.
What happens to those who have accounts and investments at Banco Pleno; 160 thousand have FGC guarantee
The Central Bank's decision to liquidate Banco Pleno affects around 160,000 customers who had accounts and investments with the institution.
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 anticipates guarantee payment to customers of Will Bank starting this Friday
The FGC has advanced payments to customers of Will Bank, allowing those with up to R$ 1,000 to receive refunds beginning this Friday, impacting around 6 million individuals.
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.
FGC wants to share risk with banks in loan to BRB
The FGC aims to limit its liability in a loan to BRB to aid in the state bank's restructuring after significant losses from past operations.
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.
Galípolo from the Central Bank speaks at a BTG Pactual event
Gabriel Galípolo, 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.
How taxpayer money could end up being used to cover part of the billion-dollar hole of Banco Master
Banco Master’s liquidation raises concerns that Brazilian taxpayers might bear financial losses due to large deficits linked to the bank.
BC has lessons to learn from the Master case, says regulatory director of the authority
The Central Bank of Brazil acknowledges the need for improvements following the Master bank case, particularly in the speed of investor reimbursements by the Deposit Guarantee Fund.
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.
Reducing bank deposits at the Central Bank is an excellent solution for replenishing the FGC, says CEO of C6
Marcelo Kalim, CEO of C6 Bank, advocates for the release of part of the compulsory deposits held by banks to strengthen the Guarantee Fund for Securities (FGC), particularly those related to time deposits.