STF Gives PF Final Say on Whether Banco Master Confrontation Proceeds After Tuesday Depositions

Overview

• Depositions of Daniel Vorcaro, ex‑BRB president Paulo Henrique Costa and BC director Ailton de Aquino are scheduled for December 30 at the Supreme Court, with participation allowed by videoconference.
• Minister Dias Toffoli rejected objections from the PGR and the Central Bank, kept the session on the calendar during the judicial recess and clarified that neither the BC nor its director is under investigation.
• Delegada Janaína Palazzo will conduct the interviews and may cancel the confrontation if no material contradictions emerge, under an authorization announced by the Court on Monday.
• The inquiry stems from Operation Compliance Zero, which alleges false credit portfolios tied to transfers of about R$12.2 billion to BRB and led to the Banco Master liquidation in November; the case moved to the STF after a federal deputy was cited.
• Financial‑sector associations, including Febraban and Anbima, issued statements defending the BC’s technical independence as legal experts and BC auditors criticized the timing and format of the proposed confrontation.