The Central Bank of Brazil announced on Tuesday the 17th that it has initiated the liquidation process of Banco Master Múltiplo. This decision follows the bank's subjection to a temporary special administration since November 18, with efforts initially aimed at rescuing its subsidiary, Will Financeira. According to the Central Bank, Banco Master did not have public deposit collections and was part of the wider Master conglomerate owned by Daniel Vorcaro.

The temporary special administration, known as Raet, was set in place with a duration of 120 days after its declaration in November 2025. The Central Bank's report delivered on December 12 indicated that, following the liquidation of Will Financeira, there were no longer justifiable reasons to continue with Banco Master Múltiplo's Raet. This move raises concerns regarding the stability of financial institutions within the Master group and the broader implications for Brazil's banking sector, which continues to face regulatory scrutiny.

The Central Bank emphasized that it will continue to implement necessary measures to ascertain any responsibilities related to the liquidation. This situation reflects ongoing challenges in the Brazilian banking sector, particularly for lesser-known institutions, amidst a backdrop of economic instability and an evolving regulatory environment in the country. The liquidation process exemplifies the critical oversight role of the Central Bank in maintaining the integrity and reliability of the financial system.