The minister Luiz Fux, of the Federal Supreme Court (STF), has approved an agreement between the Government of the Federal District (GDF) and the Union to save the Bank of Brasília (BRB) from a financial crisis. The agreement allows the GDF to obtain a loan of up to R$ 6.5 billion from the Credit Guarantee Fund (FGC) to capitalize the BRB, without the need for a transfer of resources from the Union. In return, the GDF will pay the loan over 15 years. The agreement also provides that the return of values originating from illicit acts involving the Master Bank will be prioritarily directed to the payment of the loan.
The BRB crisis began after a scandal involving the Master Bank, which led to a negotiation between the GDF and the Union to find a solution. Minister Luiz Fux, the rapporteur of the action filed by the GDF in the STF, promoted two meetings in his office to make the agreement possible. The solution found aims to calm the BRB account holders and guarantee the bank’s financial stability. The loan will be guaranteed by the Banks’ Union and will have counter-guarantees provided by the GDF with shares of the Fund for State Participation (FPE) and the Fund for Municipal Participation (FPM).
The operation will follow the limits established by the resolution of the Federal Senate, which allows loans of up to 16% of the Federal District’s net current revenue. According to the substitute Attorney General of the Union, Flávio José Roman, there will be no Union resources being transferred, nor guarantee or endorsement of the Union in favor of the DF. The agreement also provides that the return of embezzled money will be one of the points discussed in the negotiations on the confessions of Daniel Vorcaro and Paulo Henrique Costa, former president of the BRB. The solution found is the result of the search for a consensual solution to the controversies, as encouraged by the Code of Civil Procedure.
The approval of the agreement by Minister Luiz Fux guarantees that the operation will be carried out within the law and with the necessary guarantees. The Credit Guarantee Fund (FGC) will have an important role in the operation, providing the loan to the GDF to capitalize the BRB. With the solution found, the GDF will be able to obtain the necessary resources to save the BRB, without compromising the Union’s finances.
