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<p>周三，巴西中央银行下令对 Will FinanceiraSA Crédito, Financiamento e Investimento（也称为 Will Bank）进行非司法清算，此前当天早些时候已决定解除对 Banco Master 施加的先前解决措施。</p>
<p>2025 年 11 月 18 日，中央银行发布法令，因 Will Financeira 与其母集团的紧密联系而导致的问题，决定清算 Banco Master。</p>
<p>中央银行行长加布里埃尔·加利波洛签署的文件指出，此项措施是由于 Will Financeira 的经济和财务状况受到损害，以及其破产，和 Banco Master 行使控制权所产生的利益关联。</p>
<p>该法令将 Will Financeira 从巴西国家金融系统中移除，并暂停其运营。</p>
<h2>对存款人影响及 FGC 的角色。</h2>
<p>由于清算，Will Financeira 的存款证现在由巴西信用担保基金（FGC）保险，最高限额为每个 CPF（个人纳税人注册号）250,000 雷亚尔。</p>
<p>FGC 已就此覆盖问题进行接洽，但在发布时尚未回复。</p>
<p>Will Financeira 的清算是在 FGC 本周早些时候开始对 Banco Master 的存款证进行支付后进行的，此前已暂停两个月。</p>
<p>预计该基金将向约 800,000 名投资者分配约 406 亿雷亚尔，成为巴西历史上最大的一次担保支付。</p>
<p>到目前为止，已登记近 600,000 个请求，448,000 名债权人已完成申请流程。</p>
<h2>管理和资产冻结</h2>
<p>EFB Regimes Especiais de Empresas Ltda.被中央银行指定为清算人，取代了同一公司管理 Banco Master 的清算。</p>
<p>根据监管非司法清算的法律，Will Financeira 的控制人和前董事的资产被冻结。</p>
<p>他们包括丹尼尔·沃卡罗、阿曼多·米格尔·加洛·内托、费利佩·华莱士·西蒙森、Will Holding Financeira、Master Holding Financeira 和 133 Investments and Holdings。</p>
<p>这也涵盖了前董事费利佩·费利克斯·索阿雷斯·德·索萨和里卡多·萨阿德·内托的资产。</p>
<p>资产冻结旨在保护资产，同时确定负债的范围和债权人的索赔。</p>
<h2>监管背景和理由</h2>
<p>Will Financeira 的清算放大了针对 Banco Master 启动的过程的影响，并反映了货币当局关闭破产机构所采取的更大步骤。</p>
<p>当中央银行确定恢复已不再可能时，便会使用非司法清算。</p>
<p>在此制度下，活动被暂停，机构被永久排除在金融系统之外。</p>
<p>这一策略与临时特别管理制度不同，后者允许在董事被移除后继续活动，为重组或潜在出售争取时间。</p>
<p>在 Banco Master 的情况下，监管机构最初认为潜在买家会出现，从而允许银行在特别管理下维持长达 120 天。</p>
<p>然而，交易未能达成，最终导致清算。</p>
<h2>Will Financeira 的财务概况</h2>
<p>Will Bank 成立于 2017 年，并于 2024 年被 Banco Master 收购，根据中央银行的数据，年初时资产为 144 亿雷亚尔。</p>
<p>该机构报告亏损 2.447 亿雷亚尔，净资产约为 3 亿雷亚尔。到 9 月，Will Financeira 的定期存款为 65 亿雷亚尔，没有活期存款。</p>
<p>Will Bank 是 Master 的一部分，但在 Banco Master Múltiplo 名下运营，其许可证最近并未被撤销。</p>
<p>Banco Master Múltiplo 已被置于临时特别管理制度下，允许在重组完成期间继续运营。</p>
<h2>市场和支付影响</h2>
<p>即使在正式清算通知之前，万事达卡已停止承认 Will Bank 发行的卡的交易，因为客户交易未在支付系统中得到验证。</p>
<p>万事达卡为 Will Bank 的义务提供担保，并在 Westwing 和巴西利亚银行（BRB）中获得了大量股份。</p>
<p>这些措施共同突显了中央银行努力减轻 Banco Master 集团崩溃后果的同时，确保巴西金融系统整体运作的努力。</p>
<p>关于巴西中央银行在 Banco Master 崩溃后下令清算 Will Financeira 的文章首次出现在 Invezz 上。</p>

<p>巴西中央银行已下令对 Will Financeira 进行非司法清算，此举是由于 Banco Master 的倒闭。该决定是基于 Will Financeira 的破产和财务不稳定，导致该机构被移出巴西金融系统。存款人由信用担保基金（FGC）保险，最高可达 250,000 雷亚尔。清算过程包括对前董事的资产冻结，旨在减轻 Banco Master 倒闭带来的影响。Will Financeira 于 2024 年被 Banco Master 收购，拥有 144 亿雷亚尔的资产，但报告了重大亏损</p>

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<p>On Wednesday, Brazil’s Central Bank ordered the extrajudicial liquidation of Will FinanceiraSA Crédito, Financiamento e Investimento, also referred to as Will Bank, after having resolved earlier on the day resolution measures previously applied to Banco Master.</p>
<div class="lb-trans"><p>周三，巴西中央银行下令对 Will FinanceiraSA Crédito, Financiamento e Investimento（也称为 Will Bank）进行非司法清算，此前当天早些时候已决定解除对 Banco Master 施加的先前解决措施。</p>
</div><p>On November 18, 2025, the central bank issued a decree to liquidate Banco Master due to issues with Will Financeira caused by its close ties to the parent group.</p>
<div class="lb-trans"><p>2025 年 11 月 18 日，中央银行发布法令，因 Will Financeira 与其母集团的紧密联系而导致的问题，决定清算 Banco Master。</p>
</div><p>The act signed by Central Bank president Gabriel Galípolo notes that the measure is due to the compromise of Will Financeira’s economic and financial condition, as well as itsinsolvency, and the interest link derived from the exercise of control by Banco Master.</p>
<div class="lb-trans"><p>中央银行行长加布里埃尔·加利波洛签署的文件指出，此项措施是由于 Will Financeira 的经济和财务状况受到损害，以及其破产，和 Banco Master 行使控制权所产生的利益关联。</p>
</div><p>Thedecree removes Will Financeira from the Brazilian national financial system and suspends its operations.</p>
<div class="lb-trans"><p>该法令将 Will Financeira 从巴西国家金融系统中移除，并暂停其运营。</p>
</div><h2>Impact on depositors and the role of the FGC.</h2>
<div class="lb-trans"><h2>对存款人影响及 FGC 的角色。</h2>
</div><p>As a result of the liquidation, Will Financeira’s certificates of deposit are now insured by Brazil’s Credit Guarantee Fund (FGC), up to a ceiling of R$250,000 per CPF (individual taxpayer registration number).</p>
<div class="lb-trans"><p>由于清算，Will Financeira 的存款证现在由巴西信用担保基金（FGC）保险，最高限额为每个 CPF（个人纳税人注册号）250,000 雷亚尔。</p>
</div><p>The FGC was approached about the coverage, but had not answered by the time of publishing.</p>
<div class="lb-trans"><p>FGC 已就此覆盖问题进行接洽，但在发布时尚未回复。</p>
</div><p>Will Financeira’s liquidation come after the FGC began making payments on Banco Master’s certificates of deposit earlier this week, following a two-month suspension?</p>
<div class="lb-trans"><p>Will Financeira 的清算是在 FGC 本周早些时候开始对 Banco Master 的存款证进行支付后进行的，此前已暂停两个月。</p>
</div><p>The fund is anticipated to distribute around R$40.6 billion to approximately 800,000 investors, making it the largest guarantee payout ever issued in Brazil.</p>
<div class="lb-trans"><p>预计该基金将向约 800,000 名投资者分配约 406 亿雷亚尔，成为巴西历史上最大的一次担保支付。</p>
</div><p>So far, almost 600,000 requests have been registered, and 448,000 creditors have completed the application process.</p>
<div class="lb-trans"><p>到目前为止，已登记近 600,000 个请求，448,000 名债权人已完成申请流程。</p>
</div><h2>Administration and asset freezes</h2>
<div class="lb-trans"><h2>管理和资产冻结</h2>
</div><p>EFB Regimes Especiais de Empresas Ltda. wasappointed by the Central Bank as liquidator, replacing the same firm managing Banco Master’sliquidation.</p>
<div class="lb-trans"><p>EFB Regimes Especiais de Empresas Ltda.被中央银行指定为清算人，取代了同一公司管理 Banco Master 的清算。</p>
</div><p>Pursuant to the law that regulates the extrajudicial liquidation, the controllers and former directors of Will Financeirahad their assets blocked.</p>
<div class="lb-trans"><p>根据监管非司法清算的法律，Will Financeira 的控制人和前董事的资产被冻结。</p>
</div><p>They includeDaniel Vorcaro, Armando Miguel Gallo Neto, Felipe Wallace Simonsen, Will Holding Financeira, Master Holding Financeira, and 133 Investments and Holdings.</p>
<div class="lb-trans"><p>他们包括丹尼尔·沃卡罗、阿曼多·米格尔·加洛·内托、费利佩·华莱士·西蒙森、Will Holding Financeira、Master Holding Financeira 和 133 Investments and Holdings。</p>
</div><p>It covered the assets of previous directorsFelipe Felix Soares de Sousa and Ricardo Saad Neto.</p>
<div class="lb-trans"><p>这也涵盖了前董事费利佩·费利克斯·索阿雷斯·德·索萨和里卡多·萨阿德·内托的资产。</p>
</div><p>Asset freezing is designedto conserve the assets while the extent of the liabilities and the claims of creditors are determined.</p>
<div class="lb-trans"><p>资产冻结旨在保护资产，同时确定负债的范围和债权人的索赔。</p>
</div><h2>Regulatory context and rationale</h2>
<div class="lb-trans"><h2>监管背景和理由</h2>
</div><p>The liquidation of Will Financeira magnifies the impact of the process launched against Banco Master and reflects larger steps taken by the monetary authority to close down insolvent institutions.</p>
<div class="lb-trans"><p>Will Financeira 的清算放大了针对 Banco Master 启动的过程的影响，并反映了货币当局关闭破产机构所采取的更大步骤。</p>
</div><p>Extrajudicial liquidation is used when the Central Bank determines that recovery is no longer possible.</p>
<div class="lb-trans"><p>当中央银行确定恢复已不再可能时，便会使用非司法清算。</p>
</div><p>Under this regime, activities are suspended, and the institution is permanently excluded from the financial system.</p>
<div class="lb-trans"><p>在此制度下，活动被暂停，机构被永久排除在金融系统之外。</p>
</div><p>This strategy varies from the Temporary Special Administration Regime, which allows activities to continue even after directors are removed, giving time for restructuring or a potential sale.</p>
<div class="lb-trans"><p>这一策略与临时特别管理制度不同，后者允许在董事被移除后继续活动，为重组或潜在出售争取时间。</p>
</div><p>Under the instance of Banco Master, the regulator first believed that potential purchasers would emerge, allowing the bank to remain under special administration for up to 120 days.</p>
<div class="lb-trans"><p>在 Banco Master 的情况下，监管机构最初认为潜在买家会出现，从而允许银行在特别管理下维持长达 120 天。</p>
</div><p>However, the deal fell through, resulting in liquidation.</p>
<div class="lb-trans"><p>然而，交易未能达成，最终导致清算。</p>
</div><h2>Financial profile of Will Financeira</h2>
<div class="lb-trans"><h2>Will Financeira 的财务概况</h2>
</div><p>Established in 2017 and purchased by Banco Master in 2024, Will Bank had R$14.4 billion in assets in the first half of theyear, as per Central Bank figures.</p>
<div class="lb-trans"><p>Will Bank 成立于 2017 年，并于 2024 年被 Banco Master 收购，根据中央银行的数据，年初时资产为 144 亿雷亚尔。</p>
</div><p>The institution posted a loss of R$244.7 millionand a net worth of about R$300 million. By September, Will Financier had R$6.5 billion in term deposits andno demand deposits.</p>
<div class="lb-trans"><p>该机构报告亏损 2.447 亿雷亚尔，净资产约为 3 亿雷亚尔。到 9 月，Will Financeira 的定期存款为 65 亿雷亚尔，没有活期存款。</p>
</div><p>Will Bank is part of Master, but operates under Banco Master Múltiplo, whose license has not been revoked recently.</p>
<div class="lb-trans"><p>Will Bank 是 Master 的一部分，但在 Banco Master Múltiplo 名下运营，其许可证最近并未被撤销。</p>
</div><p>Banco MasterMúltiplo has been placed under the Temporary Special Administration Regime, which allows operations to continue while restructuring is completed.</p>
<div class="lb-trans"><p>Banco Master Múltiplo 已被置于临时特别管理制度下，允许在重组完成期间继续运营。</p>
</div><h2>Market and payments fallout</h2>
<div class="lb-trans"><h2>市场和支付影响</h2>
</div><p>Even before the official liquidation notification, Mastercard ceased recognising transactions with Will Bank-issued cards after customer transactions were not validated within the payment system.</p>
<div class="lb-trans"><p>即使在正式清算通知之前，万事达卡已停止承认 Will Bank 发行的卡的交易，因为客户交易未在支付系统中得到验证。</p>
</div><p>Mastercard provided guarantees for Will Bank’s obligations and acquired large holdings in Westwing and BRB, Banco de Brasília.</p>
<div class="lb-trans"><p>万事达卡为 Will Bank 的义务提供担保，并在 Westwing 和巴西利亚银行（BRB）中获得了大量股份。</p>
</div><p>Together, the measures highlight the Central Bank’s efforts to mitigate the consequences of the collapse of the Banco Master group while also ensuring the overall operation of Brazil’s financial system.</p>
<div class="lb-trans"><p>这些措施共同突显了中央银行努力减轻 Banco Master 集团崩溃后果的同时，确保巴西金融系统整体运作的努力。</p>
</div><p>The post Brazil’s Central Bank orders liquidation of Will Financeira after Banco Master collapse appeared first on Invezz</p>
<div class="lb-trans"><p>关于巴西中央银行在 Banco Master 崩溃后下令清算 Will Financeira 的文章首次出现在 Invezz 上。</p>
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巴西中央银行在 Banco Master 倒闭后下令清算 Will Financeira