BRASÍLIA, May 28 (Reuters) – The federal government and the government of the Federal District reached an agreement this Thursday to unlock a loan of approximately R$6 billion intended to help Banco de Brasília (BRB – ), according to the hearing in the Federal Supreme Court (STF) and the Federal Attorney General’s Office.
The credit operation to capitalize the BRB will be carried out by the government of the Federal District with the Credit Guarantee Fund (FGC), with a guarantee of guarantee offered by a syndicate of banks, placing as a counter-guarantee the flow of resources from the DF in the State Participation Funds (FPE) and Municipalities (FPM). There will be no guarantee from the Union.
The Federal Police are investigating fraud at the already liquidated Banco Master and the attempted purchase of the institution by BRB, which has the DF as the majority shareholder and is now going through a financial crisis.
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The former president of the public bank Paulo Henrique Costa is in prison, accused of having received bribes.
The DF government contacted the STF asking the Union to grant a guarantee for a credit operation for the capitalization of BRB. Currently, the National Treasury’s analysis of the fiscal situation of the States considers that the DF does not have adequate payment capacity and, therefore, cannot make loans with Union guarantee.
Under the terms of the agreement, in return, the DF undertakes to adopt fiscal adjustment measures.
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The document also defines that resources eventually received by the Federal District in civil or criminal actions related to the BRB case will be linked to the fulfillment of the financial obligations assumed in the credit operation.
According to the governor of the DF, Celina Leão (PP), the loan must provide a two-year grace period and 15 years to complete payments.
