Mindful of the nervousness of international markets the Brazilian central bank pulled out all the stops to ensure that the collapse of Banco Pontual was a controlled affair.
A weekend of hard work in early November meant that Pontual was ready to open its branches under the new management of Banco de Crédito Nacional (BCN) in the week following the central bank’s intervention in Pontual the Friday before.
As a smaller largely non- retail bank, Pontual’s demise did not on paper pose any systemic risk.
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