DF calculates the value of public properties offered to help BRB at R$6.4 billion

The Federal District government calculates that the public properties offered as part of a solution for the BRB are worth R$6.486 billion, according to a document obtained by GLOBO. In total, the current version of the proposal provides for the use of nine local government properties.

The text, authored by the Ibaneis Rocha (MDB) government, requests authorization for a set of initiatives to strengthen the capital of the state bank after the losses with the assets inherited from Banco Master, liquidated by the Central Bank.

The assets were received in exchange for the credit portfolio suspected of fraud, which totaled R$12.2 billion. The BC indicates, however, that BRB should have a loss of R$5 billion.

Options in the project include a direct contribution from the government, the institution’s controller, a loan of up to R$6.6 billion from the Credit Guarantee Fund (FGC) or from banks or even the sale of public assets, the financial income from which would be passed on to BRB.

According to the proposal, properties can be transferred directly to the state bank or sold to third parties, so that the revenue obtained is contributed to the institution. They can also form a real estate fund or serve as guarantee for a loan to the Federal District government.

The list of properties includes a series of plots of land and the DF Administrative Center, which has not been occupied for over a decade.

This Monday, the president of the BRB, Nelson de Souza, is meeting with parliamentarians from the Legislative Chamber of the Federal District (DF) to try to convince them to approve the project. In the first part of the meeting, the executive said that the bank could stop operating if the rescue project presented by Ibaneis Rocha’s government is not approved by the Legislative Chamber. In this case, Souza stated that it would have negative consequences for the payment of social programs, medication delivery, real estate credit operations and the suspension of loans for DF employees.

The president of BRB also said that the “end” of the bank could generate risk throughout the financial system, questioned who is interested in the failure of the institution and made an appeal for deputies to help save it. He also denied that the proposal is a “blank check” for the government. According to Souza, the project creates legal instruments to ensure the bank’s survival with stability and solidity.

According to reports from meeting participants, the president of BRB did not bring numbers to explain the bank’s real situation after the operations with Master. Deputy Gabriel Magno (PT) stated that the executive said that the BRB is a victim and that the R$6.6 billion in financing present in the project would be to keep the “BRB standing”.

— The president said that the R$6.6 billion is not to solve every Master problem, it is to stay on its feet, it is to not go bankrupt. So it’s a palliative solution.

Magno also said that the president of BRB did not explain which path the government and the institution should take to resolve the problem. According to him, Souza spoke of the possibility of placing public properties in a fund, but it is also possible for there to be direct sales.

The deputy also stated that the DF’s Secretary of Economy, Daniel Carvalho, recognized that, ultimately, he may receive a contribution from the District Treasury. With the scenario open, the parliamentarian stated that the House is reluctant to approve the project.

— The way the bill is, with so many inconsistencies, with so many openings, it brings the problem to the Legislative Chamber. This is the great concern of the deputies.