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Report: Brazilian central bank appoints committee to investigate Banco Azteca do Brasil

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Report: Brazilian central bank appoints committee to investigate Banco Azteca do Brasil

has appointeda committee to investigate the collapse of BancoAzteca do Brasil SA, which has been in extrajudicial liquidation sinceJanuary, Diario de Pernambuco reportedApril 6.

Accordingto the central bank, the committee, which is headed by Maria Cristina Piacesi, has120 days to complete its investigation, the report said.

The centralbank ordered the bank's liquidation in early 2015, citing its financial situationand serious violations of regulations governing the institution's activities. InNovember 2015, the bank appointed José Augusto Monteiro Neto as liquidator.

At thetime, the central bank reportedly said the risk of contagion in the national financialsystem is low, but that it is taking all "appropriate measures" to establishlegal responsibilities in the case.