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Fux determines that TJBA maintain judicial deposits at BRB for 90 days and cites increased liquidation risk

Minister Luiz Fux of the STF ordered the maintenance of the contract between TJBA and BRB for managing judicial deposits for 90 days, after a request from the Federal District. The precautionary decision needs to be confirmed by the 2nd Panel of the court. TJBA had announced the end of the contract with BRB after 5 years, on August 26, beginning new deposits with Caixa through an emergency contract. In the complaint to the STF, the DF stated that the option for the emergency contract was made despite the possibility of exceptional extension of up to 12 months provided for in the BRB contract. With the closure, Banco de Brasília would stop receiving approximately R$394 million monthly in new deposits.

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