The institution has had special administration since November 2025, but BC changed its strategy after liquidating Will Financeira
O (Central Bank of Brazil) decided this Tuesday (March 17, 2026) to transform the temporary special administration regime of the . in extrajudicial liquidation. In practice, this means that the monetary authority went from trying to recover the institution to the process of closing its activities.
The special regime had been imposed in November 2025 and would end on Wednesday (18 March 2026). This type of intervention is used when the Central Bank identifies problems in the management or financial situation of an institution and decides to directly monitor its administration to try to stabilize the bank’s operations.
The institution is part of the Master conglomerate. The company EFB Special Company Regimes was appointed by the BC to conduct the liquidation process. At this stage, a liquidator takes control of the institution to raise assets and liabilities, sell assets and organize the payment of creditors, in accordance with the rules of the financial system.
Initially, the special regime had been created to try to preserve the operational continuity of the Will Financiala company controlled by Master Múltiplo and responsible for the operation of .
The BC’s strategy changed in January 2026, when . As a result, according to the BC, there are no longer any reasons to maintain the special administration regime at Banco Master Múltiplo.
In November 2025, Master Múltiplo had been spared from liquidation in an attempt to facilitate the sale of Will Bank to another financial group. However, Will Financeira ended up being liquidated on Saturday (21.Feb.2026).
You are BC Eduardo Félix Bianchiniformer municipal employee and partner at EFB Regimes Especiais de Empresas, as responsible for the liquidation. According to the BC, the decision of unavailability of assets of the institution’s controllers and administrators remains valid, a measure that prevents the sale or transfer of these assets while the process is ongoing.
Here is the full note from the BC:
“BC transforms Banco Master Múltiplo’s RAET into extrajudicial liquidation
The Central Bank (BC) decreed this Tuesday (17/3) the conversion of the Temporary Special Administration Regime – Raet, of Banco Master Múltiplo SA into extrajudicial liquidation. The institution’s Raet was decreed by Presidential Act No. 1,370, of November 18, 2025, lasting 120 days.
This is an institution belonging to the Master Conglomerate that did not capture deposits from the public and was submitted to Raet in an attempt to ensure the continuity of the business of its subsidiary Will Financeira SA Crédito, Financiamento e Investimento (Will Financeira).
The deadline set for the Raet expires on March 18, 2026 and the regime administrator’s report was presented on March 12, 2026, indicating that, with the decree of the extrajudicial liquidation of Will Financeira, through Presidential Act No. 1,376, of January 21, 2026, there are no longer any reasons for the continuation of the Raet of Banco Master Múltiplo.
The BC continues to adopt the appropriate measures to determine responsibilities within the terms of its legal powers. The unavailability of the assets of the controllers and administrators resulting from the decree of Raet is maintained with the decree of extrajudicial liquidation.”
