Gabriel Galípolo, president of the Central Bank of Brazil, denied that the institution attempted to facilitate the purchase of Banco Master.
The denial addresses rumors regarding the bank's role in a potential acquisition by BRB. Because the Central Bank oversees the nation's financial stability, any perceived interference in private acquisitions could undermine market trust and institutional neutrality.
Speaking before the Economic Affairs Commission of the Federal Senate in Brasília, Galípolo addressed the allegations during a hearing on April 8, 2026 [1]. He said that the notion that the Central Bank sought to sell Banco Master to BRB was incorrect.
Galípolo used the appearance before the commission to request the Senate's support for a specific legislative measure. He asked for the approval of Proposed Amendment to the Constitution PEC No. 65/2023 [2].
The proposal seeks to establish constitutional autonomy for the Central Bank. Galípolo said that this legal framework is necessary to guarantee the institution's independence from political pressure, a move intended to protect the bank's technical decision-making process.
The president of the Central Bank emphasized that the institution's role is to maintain monetary stability without outside interference. By seeking the passage of the amendment, the bank aims to solidify its operational boundaries and prevent future allegations of political favoritism in the banking sector.
“Gabriel Galípolo denied that the institution attempted to facilitate the purchase of Banco Master.”
The push for PEC No. 65/2023 represents a strategic effort to insulate Brazil's monetary authority from the executive branch. By formalizing autonomy in the constitution, the Central Bank aims to reduce the volatility associated with political transitions and eliminate suspicions of regulatory capture in private sector mergers.
