TCU postpones BC accounts judgment until conclusion of Master investigation
Ministers want an effective pronouncement on regulatory actions concerning the bank before assessing financial management. Read more at Gazeta do Povo.
TL;DR
- The TCU will delay judging the Central Bank's 2025 accounts until the evaluation of its oversight of Banco Master is completed.
- The investigation concerns Banco Master's alleged failures and omissions, including a failed acquisition attempt by Banco de Brasília (BRB).
- The former BRB president, Paulo Henrique Costa, was arrested for allegedly ignoring inconsistencies and facilitating transactions in exchange for bribes.
- The case involves a complaint escalated to the Supreme Federal Court (STF) initiated by Daniel Vorcaro, the banker behind Banco Master.
- Banco Master's history includes its predecessor, Máxima Corretora, and a change in control approved by the BC under Roberto Campos Neto.
- There were recorded warnings about suspicious operations related to Banco Master from 2020 to 2022, with the CVM communicating concerns to the BC.