Brazil's FGC fund approves rules to bring forward lenders contribution, Valor reports
SAO PAULO, Feb 9 (Reuters) - Brazil's credit guarantee fund FGC approved new rules to strengthen its liquidity, including bringing forward 84 months of lenders' contribution to the private fund throughout 2028, local newspaper Valor Economico reported on Monday.
Lenders would have to bring forward 60 months of contribution this year, 12 months in 2027, and another 12 months in 2028, Valor said, citing sources.
An extraordinary contribution rate, equivalent to 50% of the usual one, was also approved, Valor added, noting it was not clear how long the rate would be valid.
The new rules come after the central bank ordered last year the liquidation of mid-size lender Banco Master.
FGC said in a statement it is in talks with associated institutions and the central bank over issues related to restoring its liquidity.
The fund added that a decision is expected to happen soon, yet saui that it does not comment on options under discussion.
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