🧾 Adding to the tab

The Central Bank on Thursday ordered the extrajudicial liquidation of Banco Pleno — the latest institution in the sprawling orbit of the defunct Banco Master¹ to be wound down. With Pleno gone, the tab for Brazil’s FGC deposit insurance fund has climbed to BRL 51.8 billion (USD 9.89 billion) across Master-linked failures. (Get up to speed on the Banco Master case, with our explainer.)

“The extrajudicial liquidation was prompted by the institution’s compromised financial condition, including a deterioration in its liquidity position, as well as by infringement of the rules governing its activities and failure to comply with determinations issued by the Central Bank,” the monetary authority said in a statement.

Assets under the bank’s control are now frozen, its administrators have been…

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