Four entities representing financial institutions released a joint note in defense of the Central Bank’s actions in the case involving the Master bank and the preservation of the technical and operational independence of the monetary authority.
According to the statement, the entities represent more than 100 institutions, equivalent to around 90% of the financial sector and approximately 98% of the system’s assets. The document highlights that the existence of an autonomous regulator is one of the fundamental pillars for maintaining a solid, safe and resilient financial system.
The associations state that the Central Bank has exercised its role with “attentive and independent banking supervision, in an exclusively technical, prudent and vigilant manner”. The note also highlights that this action takes place in a preventive manner, ensuring that banks and other institutions maintain adequate levels of capital and liquidity, in addition to risk management policies compatible with their business models.
The text also recognizes that it is up to the Judiciary to analyze the legal aspects of the regulator’s actions, but defends the preservation of the Central Bank’s technical authority to avoid negative impacts on the economy and confidence in the financial system.
The note is signed by the Brazilian Association of Banks, the National Association of Credit Institutions, the Brazilian Federation of Banks and the entity that represents companies in the financial and payment sector.
