This Friday (2), the TCU (Federal Audit Court) began an inspection process at the Central Bank to verify the extrajudicial liquidation of the Banco Master, information confirmed to CNN by the president of TCU, Vital do Rêgo.
Experts spoke with the CNN Money on
Murilo Viana, economist at GO Associados,
“What happens with the TCU’s action raises alarms about whether in fact the TCU should act the way it is, there are indications that it is trying to pressure the Central Bank in relation to the authority to determine a liquidation”, he stated.
“By attacking the BC on the issue of settlement, it creates a problem related to the trust that is had, both internally and from a foreign point of view, related to the BC’s ability to act with a certain speed and deliver the settlement when necessary”, he added.
Hugo Daniel Azevedo, wealth manager, mentions an “atypical situation” of intervention by the STF and TCU on the monetary authority and views negatively a possible reversal of the decision to liquidate Banco Master.
“If this were to happen, it would be a breach of trust in the system, of institutional governance and would greatly harm the reliability and predictability of the financial system in Brazil”, he predicts.
Azevedo reinforces the idea of risk aversion in Brazil if
“How are you going to make investments if the rule can be changed from one moment to the next, simply with a decision?”, he asked.
Viana, however, questions the time used by the Central Bank to decree the liquidation of Banco Master and possible attempts at political pressure against the measure.
“In a moment of greater calm, it should be discussed from the Central Bank’s point of view whether it did not take too long to act. But there are indications that part of this possible delay came from political pressure”, he added.
