After a meeting at the STF on Tuesday, Finance Minister Dario Durigan announced that the Union will relax the Federal District’s credit limit to enable a loan of up to R$ 6.6 billion to BRB from the FGC.
The conciliation hearing, mediated by Justice Luiz Fux, lasted about two hours and included Governor Celina Leão, BRB president Nelson Antônio de Souza, and representatives from the Central Bank and the AGU. The deal stipulates that BRB will take the loan backed by a syndicate of banks and counter-guarantees from the FPE and FPM, without Union backing.
Durigan said the Union will adjust the GDF fiscal adjustment plan, which currently caps credit operations at R$ 900 million. “As soon as this negotiation is concluded, the Union will flexibilize the criteria,” the minister said. Final clauses will be defined at a new meeting scheduled for Thursday, May 28.
Celina Leão thanked the federal support and noted that BRB sold R$ 4 billion in assets to improve liquidity. She stressed that investigations into the Banco Master scandal continue and that criminal action will punish those responsible. The DF filed a suit at the STF to suspend the Capag C rating requirement that blocks federal guarantees.
