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Stock impact report

Brazil's monetary council allows banks to finance peers backed by deposit fund [Reuters]

Itau Unibanco Banco Holding SA American Depositary Shares (Each repstg 500 Preferred shares) (ITUB) 
Last itau unibanco banco holding sa american depositary shares (each repstg 500 preferred shares) earnings: 2/11 04:01 pm Check Earnings Report
US:NYSE Investor Relations: itau.com.br/investor-relations
Company Research Source: Reuters
Brazil's monetary council allows banks to finance peers backed by deposit fund SAO PAULO/BRASILIA, April 23 (Reuters) - Brazil’s monetary policy council decided on Thursday to allow banks to buy special certificates of deposit issued by other lenders, with each buyer protected from up to 400 million reais ($72.29 million) in potential losses on the securities by the country’s deposit insurance fund. The move was the latest by the Brazilian central bank aimed at improving smaller banks’ liquidity during the crisis caused by the coronavirus pandemic. Earlier this month, the deposit insurance fund doubled its backing for the CDs, normally acquired by institutional investors, to 40 million reais. Despite the added guarantee against losses, investors’ appetite has been weak. Brazil’s privately funded deposit insurance fund, called FGC, ended October 2019 with nearly 80 billion reais in assets. Among its largest contributors are lenders such as Banco do Brasil SA, Itau Unibanco Holding SA, Show less Read more
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