The federal government confirmed on Friday night (21st) that it remains open to helping in negotiations for the capitalization of Banco de Brasília (BRB), as long as the terms of the agreement signed with the Supreme Federal Court (STF) are respected, which expressly prohibit any kind of backing or financial guarantee from the federal government. The statement was published in a joint note by the Office of the Attorney General (AGU) and the Ministry of Finance.
Pressure for Federal Backing and the Official Position
The Federal District Government (GDF) and private financial institutions have been pressing for the federal government to back BRB’s capitalization operation. However, both the AGU and the Ministry of Finance deny that the federal government is trying to obstruct the loan.
Federal District Governor Celina Leão sent a letter on the 20th to Finance Minister Dario Durigan requesting a meeting to discuss the loan being sought from the Credit Guarantee Fund (FGC). In the letter, she asked that representatives of the main financial institutions in the bank syndicate reviewing the operation be invited. These banks include Banco do Brasil, Caixa Econômica Federal, Itaú Unibanco, Bradesco, Santander, BTG Pactual and XP Investimentos.
Guarantees and Controversy Over the Operation
The proposal calls for the S1 syndicate, made up of the country’s largest public and private banks, to provide a surety for the loan. As a counter-guarantee, transfers from the State Participation Fund (FPE) and the Municipal Participation Fund (FPM) earmarked for the Federal District would be used.
The private banks, for their part, argue that using this counter-guarantee is unconstitutional, an argument the Ministry of Finance rejects. BRB has also not yet sent the FGC all the documentation needed to make the credit possible.
Another source of uncertainty is that the bank has not released its closed 2025 balance sheet, which prevents an accurate assessment of the financial impact caused by Banco Master, an institution that left a hole that has not yet been detailed.
Ongoing Negotiations and Next Steps
Throughout July, several meetings were held to try to move the negotiations forward, with the participation of the AGU, the Ministry of Finance, the Office of the Attorney General of the National Treasury (PGFN), the Office of the Attorney General of the Federal District (PGDF), BRB, the FGC and representatives of public and private banks. The meetings took place on the 14th, 16th, 21st, 22nd and 28th.
According to the federal government, the delay in finalizing the loan is related to negotiating, technical and governance issues among the economic agents involved. The AGU and the Ministry of Finance emphasize that it is up to the Federal District and BRB to provide detailed information and a business plan that allow the financial institutions to assess the operation’s safety and viability.
