Brazil’s central bank clashes with auditor over bank closure
Watchdog demands evidence for BCB’s decision to liquidate Banco Master amid fraud allegations
The Central Bank of Brazil (BCB) has hit back against a demand from the country’s independent auditor for an inquiry into how it handled the liquidation of a mid-size lender.
Jhonatan de Jesus, a member of Brazil’s Federal Court of Accounts (TCU), on January 5 ordered an inquiry into the BCB’s decision to liquidate Banco Master, which had been subject to fraud allegations. The TCU is an independent constitutional body with a remit to audit federal government spending.
De Jesus said the inquiry
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