News and Business
Brazil contemplates new framework for S1 financial institutions’ recovery and resolution
Brazil’s Central Bank held public consultation to receive contributions toward proposed framework
Subjects
On January 24, 2024, the Brazilian Central Bank (BCB) opened a public consultation to gather input on creating a new regulatory framework concerning the recovery and resolution of financial institutions classified under Segment 1 (S1).
This consultation reflected the BCB’s intention to align Brazilian regulations with the Financial Stability Board’s (FSB) recommendations, which advocate for non-financially viable institutions to be wound down in an orderly manner that ensures their critical functions continue to run.
Submissions were accepted until March 8, 2024. New regulations are anticipated to be issued later this year.
For further information on this topic, please contact Mattos Filho’s Banking & Financial Services practice area.
