Brazil audit court delays approval of Central Bank accounts over Banco Master case

Brazil’s Federal Court of Accounts tied approval of the Central Bank’s 2025 accounts to the Banco Master case.

The case examines the Central Bank’s decision to liquidate Banco Master, a financial institution whose owner, Daniel Vorcaro, is in custody by order of the Supreme Federal Court.

The court’s technical staff found no irregularities in the Central Bank’s actions and recommended approving its accounts, but the court’s Second Chamber did not follow that recommendation.

The accounts will only be approved if the court finds no wrongdoing in the liquidation.

The judge overseeing the liquidation case is waiting for conclusions from a Supreme Federal Court criminal case that also examines whether former Central Bank officials acted illegally in favor of Banco Master.

There is no date for a final ruling, leaving approval of the accounts unresolved.

The audit court reviews government bodies’ accounts each year, and it can impose fines or order repayment if it finds public money was improperly used.