The Minister of Finance, Dario Durigan, stated that a possible liquidation of BRB (Banco de Brasília) would generate a loss of R$ 17 billion in the FGC (Credit Guarantee Fund).
The speech was made in an interview with the newspaper Economic Valueand confirmed to the CNN Money by the Ministry of Finance this Thursday (28).
“The FGC today, according to information provided by the Central Bank, would already have, in the event of BRB’s liquidation, a deficit of R$17 billion, a deficit of R$17 billion that would have to be borne by the banks, which are the FGC’s associates”, said Dario.
Earlier this Thursday, amid the liquidity crisis following the attempted purchase of the liquidated Banco Master.
The proposal provides for a loan to the DF government with resources from the FGC (Credit Guarantee Fund), with , and with counter-guarantees from the FPE (State and Federal District Participation Fund) and the FPM (Municipal Participation Fund).
The loan amount should be up to R$6.5 billion, equivalent to 16% of the net current revenue (RCL) of the Federal District (DF).
The Union’s help occurs precisely in expanding the limits for operations.
The Federal District is in the PAF (Fiscal Adjustment Program) of the STN (National Treasury Secretariat), and according to the agreement signed between the entities, the limit for operations would be only 3% of the RCL, around R$961 million.
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The guarantee will be granted by S1 banks, which are large financial institutions whose size is equal to or greater than 10% of GDP (Gross Domestic Product).
There will be no transfer of federal resources or guarantees from the Union.
