Brazil's BRB rescue: Fux gives 15 days for Union, BC, FGC to guarantee R$6.6bn loan

Brazilian Supreme Court Justice Fux has set a 15-day deadline for the Union, Central Bank, and Credit Guarantee Fund (FGC) to provide guarantees for a R$6.6 billion loan to Banco de Brasília (BRB), following a May agreement that provided bank guarantees. The move aims to stabilize BRB's liquidity amid financial stress, with the federal guarantee sought to back the FGC loan. This is a developing financial intervention with implications for Brazil's banking sector and fiscal risk.