The actions of Brazilian banks have a strong drop on Tuesday (19) after the minister, (Supreme Federal Court), signal the possibility of punishing banks they apply against, his cutting colleague.
The devaluation reverberates in the stock market, which recorded a low of 1.89%, to 134,716 points at 12:01. At the same time, BTG papers fall 3.46%,, 3.60%, from, 3.28%,, 2.82%, and from, 4.17%.
Dino’s message was given last Monday (18) in a decision granted in action on the breach of the Mariana Dam (MG). The minister stated that they are valid only in Brazil if confirmed by the Supreme.
The eventual punishment of banks was considered in the Supreme Court after ministers have a round of conversations with bankers about government actions against Moraes and consider the response below expected.
The assessment was that no bank assured that those against the minister in Brazil, although the restrictions imposed until now were restricted to transfers abroad.
According to Rodrigo Marcatti Economist and CEO of Veedha Investimentos, the situation places the sector in a crossroads. “Banks, because they are related to SWIFT and abroad operations, can face different risks, such as meeting a Supreme Order and dealing with fines that compromise their business [no cenário interacional]”.
Moraes was sanctioned with the use of magnitsky law, a device of American legislation used to impose economic sanctions against individuals involved in corruption or human rights violations.
Through the law, the US government determines the freezing of any good or asset that the sanctioned person has in the United States and can also ban US financial entities from doing dollar operations with them.
The measure would include the use of MasterCard and Visa credit card flags, for example. The effects on Moraes’ transactions in reais in Brazil are still under bank analysis.
The banks mentioned were sought, but most did not respond until the publication of this report.
In a statement, Banco do Brasil said “acting in accordance with Brazilian law, the rules of more than 20 countries where it is present and the international standards governing the financial system”.
The institution also claimed to be prepared to deal with complex and sensitive themes involving global regulations.
