TCU will analyze an agreement that provides for a loan of up to R$6.5 billion to the DF government to save BRB

Banco Master
Reproduction/TV Globo
The Federal Audit Court (TCU) opened a process to analyze the agreement signed between the government of the Federal District and the Union to unlock the loan of up to R$6.5 billion to save the balance sheet of Banco de Brasília (BRB), shaken by irregular operations with Banco Master.
The opening of the investigation was revealed by the newspaper O Estado de S. Paulo and confirmed by g1. Minister Jhonatan de Jesus was appointed as rapporteur of the process this Monday (1st).
The agreement was signed last Thursday (28) after two meetings mediated by the minister of the Federal Supreme Court (STF) Luiz Fux.
➡ The negotiations took place after the DF received a low score in the Payment Capacity (Capag), a fiscal classification used by the Union to authorize credit operations with federal guarantee (see details below).
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GDF and the Union close an agreement with the STF to enable billion-dollar bailouts for BRB
What does the agreement provide?
According to the agreement obtained by TV Globo, the STF must authorize the DF to contract a credit operation with the Credit Guarantee Fund (FGC) worth up to 16% of the Federal District's Net Current Revenue.
According to the substitute attorney general of the Union, Flávio Roman, there will be no transfer of federal resources or guarantee from the Union.
The measure only creates conditions for the Credit Guarantee Fund (FGC) to carry out a BRB capitalization operation within the limits set out in the Federal Senate resolution. that the agreement provides for an operation with the support of the Credit Guarantee Fund (FGC), with the participation of financial institutions and the use of resources from the banking system itself, respecting the DF's debt limits.
The model includes the possibility of banks acting as guarantors, with counter-guarantees linked to transfers from the Municipal Participation Fund (FPM) and the State Participation Fund (FPE), and also depends on technical analysis.
Private banks will provide guarantee
President of BRB, Nelson Souza, attorney general of the Union, Flávio Roman, and governor of DF, Celina Leão; GDF and the Union close an agreement to enable billion-dollar bailouts for BRB
TV Globo
Under the agreement, the loan to GDF will be made by the FGC and will be guaranteed by a syndicate of banks. As a counter-guarantee, the Federal District will offer resources from the State Participation Fund (FPE) and the Municipal Participation Fund (FPM).
The text also provides for exemption from limits and tax requirements normally applicable to this type of credit operation.
According to Roman, the resources used in the operation are not public, but belong to the financial institutions that supply the FGC.
Understand
The Federal District called the STF to try to suspend the effects of the note "C" received by the DF in Payment Capacity (Capag).
➡️ As g1 showed, this classification prevents the Union from acting as a guarantor in new credit operations - a prerogative restricted to entities with A or B grades. was defined by a difference of 0.27 percentage points in the "current savings" indicator and maintains that the methodology used by the National Treasury disregards recent fiscal adjustment measures adopted by the DF.
Loan of R$ 6.6 billion
Celina Leão says that the STF agreement takes BRB out of a "serious moment" and predicts a solution this week
The request for help to BRB was formalized by the DF Government with the federal government in April. In a letter sent to the Ministry of Finance, Celina Leão requested a guarantee from the Union to take out a loan of R$6.6 billion from the Credit Guarantee Fund (FGC).
According to the DF government, the objective of the operation is to reinforce the capital of the public bank.

The move occurs amid the crisis faced by the institution following losses related to operations with Banco Master and Operation Compliance Zero.
According to the action, BRB:
operates 25 social programs in the DF;
moves around R$3 billion in benefits;
makes payments to approximately 210 thousand public servants;
serves almost 440 thousand beneficiaries of district programs;
has already granted more than R$ 32 billion in credit.
The text also states that the bank keeps "billion-dollar values" from account holders and judicial deposits.
"The unfeasibility of its activities would result in serious consequences for the entire country", says the document sent to the Supreme Court.
Capag
Capag is based on criteria of debt, savings and liquidity that, together, define the "fiscal health" of each entity. In practice, the indicators measure the risk of default in credit operations.
➡️ The Union only acts as a guarantor on loans from States and municipalities that have a high rating (A or B).
➡️ The DF had a grade of B in 2023 and 2024, but fell to C in the assessment carried out in 2025 and released at the beginning of this month.
As a result, the DF lost the Union's guarantee for new credit operations.
What the BRB says
"The BRB informs that an agreement was signed between the Union and the Federal District, with approval by the Federal Supreme Court, with the objective of enabling conditions for strengthening the Bank's capital, within the rules of the financial system and applicable legal limits. The agreement does not involve the transfer of resources, guarantee or guarantee from the Union.
The solution constructed allows the carrying out of an operation within the scope of the Fund Credit Guarantor, with the participation of financial institutions, to support the capitalization of the BRB. This structure considers the Federal District's debt limits and will be conducted according to the fund's governance, using resources from the banking system itself.
The model envisages the organization of a group of banks that can act as guarantors of the operation, with counter-guarantees linked to the flow of FPM and FPE funds from the Federal District. Credits.
The institution highlights the role of minister Luiz Fux in conducting the process, by promoting conciliation hearings and articulating understanding between the parties, allowing the construction of a consensual solution for the operation.
Finally, the Bank clarifies that it continues to operate normally, with full service to customers and partners, and will keep the market informed about the developments of the stages foreseen in the agreement, in line with regulatory requirements."
Read more news about the region on g1 DF.

Source: G1

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