trending Market Intelligence /marketintelligence/en/news-insights/trending/QpSNuPrp62takMFwHnpSRw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Brazil's audit court acquits former central bank, FonteCindam execs

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go


Brazil's audit court acquits former central bank, FonteCindam execs

Brazil's federal audit court TCU has absolved former heads of Banco Central do Brasil and defunct bank FonteCindam for the damage caused by the central bank's intervention in the foreign exchange market to bail out the bank during the 1999 currency crisis, Valor Econômico reported.

The measure was justified due to the "systemic risk" in the financial system at the time, according to the report. Benjamin Zymler, controller general for the TCU, said the central bank did not commit any legal or economic irregularities. The case also involved subjective matters, making it possible to review a previous ruling, Zymler noted.

The TCU previously ordered FonteCindam and its officials to return 3.7 billion Brazilian reais to the Treasury, on top of the fine of 1 billion reais against the bank and 1 million reais against the former central bank managers. At the time, the court said the central bank aided FonteCindam sell dollars at below-market prices, which harmed Brazil's public finances.

As of March 13, US$1 was equivalent to 3.83 Brazilian reais.