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Banestes, other financial institutions named as central bank bond dealers

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Banestes, other financial institutions named as central bank bond dealers

Banestes SA - Banco do Estado do Espírito Santo said it has been accredited as an open market dealer by Banco Central do Brasil's department of open market operations, allowing it to perform operations with government bonds.

Other accredited institutions include Banco Bradesco SA, Banco BTG Pactual SA, Banco do Brasil SA, Banco J.P. Morgan SA, Banco Nacional de Desenvolvimento Econômico e Social, Banco Safra SA, Banco Santander (Brasil) SA, Caixa Econômica Federal, Itaú Unibanco Holding SA, XP Investimentos CCTVM SA and Renascença Distribuidora de Títulos e Valores Mobiliários Ltda.

The valuation period starts Aug. 10 and ends Jan. 31, 2018, according to the central bank.

The authorization of BNDES has caused some controversy in the market, with experts reportedly saying that giving the role of a central bank dealer to a development bank was unheard of in other countries.