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<p>週三，巴西中央銀行下令對 Will FinanceiraSA Crédito, Financiamento e Investimento（也稱為 Will Bank）進行非司法清算，此前當天早些時候已決定解除對 Banco Master 施加的先前解決措施。</p>
<p>2025 年 11 月 18 日，中央銀行發佈法令，因 Will Financeira 與其母集團的緊密聯繫而導致的問題，決定清算 Banco Master。</p>
<p>中央銀行行長加布裏埃爾·加利波洛簽署的文件指出，此項措施是由於 Will Financeira 的經濟和財務狀況受到損害，以及其破產，和 Banco Master 行使控制權所產生的利益關聯。</p>
<p>該法令將 Will Financeira 從巴西國家金融系統中移除，並暫停其運營。</p>
<h2>對存款人影響及 FGC 的角色。</h2>
<p>由於清算，Will Financeira 的存款證現在由巴西信用擔保基金（FGC）保險，最高限額為每個 CPF（個人納税人註冊號）250,000 雷亞爾。</p>
<p>FGC 已就此覆蓋問題進行接洽，但在發佈時尚未回覆。</p>
<p>Will Financeira 的清算是在 FGC 本週早些時候開始對 Banco Master 的存款證進行支付後進行的，此前已暫停兩個月。</p>
<p>預計該基金將向約 800,000 名投資者分配約 406 億雷亞爾，成為巴西曆史上最大的一次擔保支付。</p>
<p>到目前為止，已登記近 600,000 個請求，448,000 名債權人已完成申請流程。</p>
<h2>管理和資產凍結</h2>
<p>EFB Regimes Especiais de Empresas Ltda.被中央銀行指定為清算人，取代了同一公司管理 Banco Master 的清算。</p>
<p>根據監管非司法清算的法律，Will Financeira 的控制人和前董事的資產被凍結。</p>
<p>他們包括丹尼爾·沃卡羅、阿曼多·米格爾·加洛·內託、費利佩·華萊士·西蒙森、Will Holding Financeira、Master Holding Financeira 和 133 Investments and Holdings。</p>
<p>這也涵蓋了前董事費利佩·費利克斯·索阿雷斯·德·索薩和裏卡多·薩阿德·內託的資產。</p>
<p>資產凍結旨在保護資產，同時確定負債的範圍和債權人的索賠。</p>
<h2>監管背景和理由</h2>
<p>Will Financeira 的清算放大了針對 Banco Master 啓動的過程的影響，並反映了貨幣當局關閉破產機構所採取的更大步驟。</p>
<p>當中央銀行確定恢復已不再可能時，便會使用非司法清算。</p>
<p>在此制度下，活動被暫停，機構被永久排除在金融系統之外。</p>
<p>這一策略與臨時特別管理制度不同，後者允許在董事被移除後繼續活動，為重組或潛在出售爭取時間。</p>
<p>在 Banco Master 的情況下，監管機構最初認為潛在買家會出現，從而允許銀行在特別管理下維持長達 120 天。</p>
<p>然而，交易未能達成，最終導致清算。</p>
<h2>Will Financeira 的財務概況</h2>
<p>Will Bank 成立於 2017 年，並於 2024 年被 Banco Master 收購，根據中央銀行的數據，年初時資產為 144 億雷亞爾。</p>
<p>該機構報告虧損 2.447 億雷亞爾，淨資產約為 3 億雷亞爾。到 9 月，Will Financeira 的定期存款為 65 億雷亞爾，沒有活期存款。</p>
<p>Will Bank 是 Master 的一部分，但在 Banco Master Múltiplo 名下運營，其許可證最近並未被撤銷。</p>
<p>Banco Master Múltiplo 已被置於臨時特別管理制度下，允許在重組完成期間繼續運營。</p>
<h2>市場和支付影響</h2>
<p>即使在正式清算通知之前，萬事達卡已停止承認 Will Bank 發行的卡的交易，因為客户交易未在支付系統中得到驗證。</p>
<p>萬事達卡為 Will Bank 的義務提供擔保，並在 Westwing 和巴西利亞銀行（BRB）中獲得了大量股份。</p>
<p>這些措施共同突顯了中央銀行努力減輕 Banco Master 集團崩潰後果的同時，確保巴西金融系統整體運作的努力。</p>
<p>關於巴西中央銀行在 Banco Master 崩潰後下令清算 Will Financeira 的文章首次出現在 Invezz 上。</p>

<p>巴西中央銀行已下令對 Will Financeira 進行非司法清算，此舉是由於 Banco Master 的倒閉。該決定是基於 Will Financeira 的破產和財務不穩定，導致該機構被移出巴西金融系統。存款人由信用擔保基金（FGC）保險，最高可達 250,000 雷亞爾。清算過程包括對前董事的資產凍結，旨在減輕 Banco Master 倒閉帶來的影響。Will Financeira 於 2024 年被 Banco Master 收購，擁有 144 億雷亞爾的資產，但報告了重大虧損</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>週三，巴西中央銀行下令對 Will FinanceiraSA Crédito, Financiamento e Investimento（也稱為 Will Bank）進行非司法清算，此前當天早些時候已決定解除對 Banco Master 施加的先前解決措施。</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，中央銀行發佈法令，因 Will Financeira 與其母集團的緊密聯繫而導致的問題，決定清算 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>中央銀行行長加布裏埃爾·加利波洛簽署的文件指出，此項措施是由於 Will Financeira 的經濟和財務狀況受到損害，以及其破產，和 Banco Master 行使控制權所產生的利益關聯。</p>
</div><p>Thedecree removes Will Financeira from the Brazilian national financial system and suspends its operations.</p>
<div class="lb-trans"><p>該法令將 Will Financeira 從巴西國家金融系統中移除，並暫停其運營。</p>
</div><h2>Impact on depositors and the role of the FGC.</h2>
<div class="lb-trans"><h2>對存款人影響及 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>由於清算，Will Financeira 的存款證現在由巴西信用擔保基金（FGC）保險，最高限額為每個 CPF（個人納税人註冊號）250,000 雷亞爾。</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 已就此覆蓋問題進行接洽，但在發佈時尚未回覆。</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 本週早些時候開始對 Banco Master 的存款證進行支付後進行的，此前已暫停兩個月。</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>預計該基金將向約 800,000 名投資者分配約 406 億雷亞爾，成為巴西曆史上最大的一次擔保支付。</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>到目前為止，已登記近 600,000 個請求，448,000 名債權人已完成申請流程。</p>
</div><h2>Administration and asset freezes</h2>
<div class="lb-trans"><h2>管理和資產凍結</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.被中央銀行指定為清算人，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>根據監管非司法清算的法律，Will Financeira 的控制人和前董事的資產被凍結。</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>他們包括丹尼爾·沃卡羅、阿曼多·米格爾·加洛·內託、費利佩·華萊士·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>這也涵蓋了前董事費利佩·費利克斯·索阿雷斯·德·索薩和裏卡多·薩阿德·內託的資產。</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>資產凍結旨在保護資產，同時確定負債的範圍和債權人的索賠。</p>
</div><h2>Regulatory context and rationale</h2>
<div class="lb-trans"><h2>監管背景和理由</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 的清算放大了針對 Banco Master 啓動的過程的影響，並反映了貨幣當局關閉破產機構所採取的更大步驟。</p>
</div><p>Extrajudicial liquidation is used when the Central Bank determines that recovery is no longer possible.</p>
<div class="lb-trans"><p>當中央銀行確定恢復已不再可能時，便會使用非司法清算。</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，活動被暫停，機構被永久排除在金融系統之外。</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>這一策略與臨時特別管理制度不同，後者允許在董事被移除後繼續活動，為重組或潛在出售爭取時間。</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 的情況下，監管機構最初認為潛在買家會出現，從而允許銀行在特別管理下維持長達 120 天。</p>
</div><p>However, the deal fell through, resulting in liquidation.</p>
<div class="lb-trans"><p>然而，交易未能達成，最終導致清算。</p>
</div><h2>Financial profile of Will Financeira</h2>
<div class="lb-trans"><h2>Will Financeira 的財務概況</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 成立於 2017 年，並於 2024 年被 Banco Master 收購，根據中央銀行的數據，年初時資產為 144 億雷亞爾。</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>該機構報告虧損 2.447 億雷亞爾，淨資產約為 3 億雷亞爾。到 9 月，Will Financeira 的定期存款為 65 億雷亞爾，沒有活期存款。</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 名下運營，其許可證最近並未被撤銷。</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 已被置於臨時特別管理制度下，允許在重組完成期間繼續運營。</p>
</div><h2>Market and payments fallout</h2>
<div class="lb-trans"><h2>市場和支付影響</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，萬事達卡已停止承認 Will Bank 發行的卡的交易，因為客户交易未在支付系統中得到驗證。</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>萬事達卡為 Will Bank 的義務提供擔保，並在 Westwing 和巴西利亞銀行（BRB）中獲得了大量股份。</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>這些措施共同突顯了中央銀行努力減輕 Banco Master 集團崩潰後果的同時，確保巴西金融系統整體運作的努力。</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>關於巴西中央銀行在 Banco Master 崩潰後下令清算 Will Financeira 的文章首次出現在 Invezz 上。</p>
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巴西中央銀行在 Banco Master 倒閉後下令清算 Will Financeira