The Finance Minister said that, during the Master crisis, the president of the Central Bank called him a few times asking for votes in the CMN
The Minister of Making, Fernando Haddad, said at an event this Tuesday (10), in the city of São Paulo, that the exponential growth of Banco Master was interrupted by Gabriel Galípolo when he assumed the presidency of the Central Bank. “The concrete fact is that Banco Master, until 2024, had exponential growth, which was stopped as soon as Galípolo took office. Because it was faced with a very worrying situationin relation to what was happening there about this”, he said, when participating in the CEO Conference Brasil 2026, organized by BTG Pactual, in São Paulo.
Haddad took advantage of praise the IRSsaying that it was the body that “blown up” Reag Investimentos (independent business platform), and Master was involved.
The Finance Minister said that, during the Master crisis, Galípolo called him a few times asking for votes at the National Monetary Council (CMN) on changes to the Credit Guarantee Fund (FGC).
“Over the last few months, Galípolo called me a few times asking for a vote from Finance and Planning for certain acts that had to be validated by the CMN in relation to the FGC”, declared Haddad.
Finally, Haddad showed that the current legislation was not “robust enough” to not allow the R$12 billion fraud and that a reform with a greater structure of the Credit Guarantee Fund (FGC) is being negotiated after the incident.
“A more structural reform is being discussed, because nobody really wants to go through this hardship again. In other words, the legislation has not proven to be robust enough to avoid an operation like this which put a lot of things at risk”, said the minister.
*With Agência Estado
