The Central Bank of Brazil ordered the extrajudicial liquidation of mid-sized lender Banco Master on 18 November 2025, following the arrest of the bank's controlling shareholder, Daniel Vorcaro, by police as part of a fraud investigation. The BCB appointed a liquidator to take charge of Banco Master's operations, preserve its assets and begin compiling a comprehensive list of creditors.
EVENTS BEFORE THE LIQUIDATION
The liquidation came after the BCB had rejected a proposed acquisition of Banco Master by state-controlled BRB in September, and a day after a consortium led by Grupo Fictor announced a plan to buy the bank.
DEPOSIT GUARANTEE FUND ACTIVATED FOR ELIGIBLE SAVERS
The Fundo Garantidor de Créditos, Brazil's deposit guarantee fund, was activated following the BCB's liquidation order, providing protection for eligible depositors and investors up to the insured limits established under its rules.
The fraud investigation remained ongoing at the time of the liquidation order.