Banco Master Liquidated as Markets Brace for Fed Minutes and Nvidia Results

Overview

• Brazil’s central bank decreed the extrajudicial liquidation of Banco Master and placed the group under temporary administration for 120 days, after police arrested founder Daniel Vorcaro.
• Press reports say the deposit insurance fund FGC is set to cover about R$41 billion, while federal police estimate roughly R$12 billion in fraud; banks’ contributions and timing remain uncertain.
• Brazilian assets showed limited stress on Tuesday: the Ibovespa slipped 0.30% and the dollar fell 0.26% to R$5.318, though bank shares weakened on potential FGC outlays.
• Global risk assets softened on concerns about stretched tech valuations and new debt to fund AI data centers, with U.S. stocks down Tuesday and investors now awaiting the Fed’s minutes and Nvidia’s earnings.
• Bitcoin has dropped about 28% from October’s record and is stabilizing near US$90–91 thousand, with spot crypto ETFs logging continued net outflows.