The Government of the Federal District and the Union signed an agreement to save the Banco de Brasília (BRB) from crisis. Governor Celina Leão stated that the decision returns the BRB “definitively to the population of Brasília”. The agreement provides for the Government of the Federal District to take approximately R$ 6.5 billion from the Credit Guarantor Fund (FGC), which will be paid over 15 years, with two years of grace. In return, the GDF will pay R$ 15 billion over 10 years. The agreement was homologated by Minister Luiz Fux, rapporteur of the action in the Federal Supreme Court (STF).
Crisis and Agreement Details
The crisis at BRB involved misappropriation of resources and reports from former leaders, such as Daniel Vorcaro and Paulo Henrique Costa. The agreement provides that the return of values from illicit acts be prioritized for payment of the loan with the FGC. Governor Celina Leão highlighted that the solution was possible thanks to dialogue between the Government of the Federal District, the Attorney General’s Office (AGU) and the Ministry of Finance. She considered the agreement as the “least damaging solution” for the crisis at BRB. The loan will be guaranteed by a bank syndicate, without the direct participation of the Union.
The institutional context involves a long negotiation between the Government of the Federal District and the Union to find a solution to the crisis at BRB. The AGU and the Ministry of Finance played a fundamental role in the dialogue that led to the agreement. The Union will not directly contribute resources to the credit operation, but accepted the agreement structure that allows the GDF to obtain resources from the FGC. The operation aims to guarantee the stability of the bank and protect the interests of the population of Brasília.
The implementation of the agreement will have practical consequences for the financial management of BRB and for the economy of the Federal District. The return of misappropriated resources and payment of the loan with the FGC will be monitored. The agreement also highlights the importance of institutional dialogue between different spheres of public power to find solutions to complex challenges.
