Senator Ciro Nogueira (PP-PI) resubmitted on Tuesday (12) a proposal to increase the Credit Guarantee Fund (FGC) coverage limit from R$ 250,000 to R$ 1 million, five days after being targeted in a Federal Police operation investigating alleged undue advantages paid by people linked to Banco Master. The measure became known as the "Master amendment" after the PF discovered that the previous version had allegedly been drafted by the bank's staff and delivered to the parliamentarian. ✓
Press quotes (1)
"Cinco dias após ser alvo de uma operação da Polícia Federal (PF) fruto de investigação sobre o Banco Master, o senador Ciro Nogueira (PP-PI) reapresentou nesta terça-feira um projeto para ampliar de R$ 250 mil para R$ 1 milhão o limite de cobertura do Fundo Garantidor de Créditos (FGC)"
According to an investigation authorized by Minister André Mendonça (STF), Ciro Nogueira is pointed out by investigators as the alleged "central recipient" of undue advantages paid by people linked to Banco Master. The new proposal includes mandatory review of the FGC coverage ceiling every four years by the National Monetary Council and claims that the current limit is "outdated" for remaining frozen since 2013. ✓
Press quotes (1)
"Na decisão, Mendonça afirma que investigadores apontam Ciro como suposto "destinatário central" de vantagens indevidas pagas por pessoas ligadas ao banco."
Minister Mendonça authorized the searches against the senator based on the privileged forum, since any criminal precautionary measure against a parliamentarian depends on STF authorization as provided by the Federal Constitution. However, he denied the PF's request to conduct searches in Ciro Nogueira's office in the Senate, as he did not see the need for the measure. ✓
Press quotes (1)
"Do ponto de vista jurídico, a decisão do ministro André Mendonça de autorizar buscas e impor medidas de monitoramento encontra fundamento no fato de o senador possuir foro por prerrogativa de função. Em razão disso, qualquer medida cautelar criminal depende de autorização do STF, conforme prevê a Constituição Federal."
Ciro Nogueira resubmitted the amendment five days after being targeted in the Federal Police operation
Covered by only some sources, or where the accounts diverge.
Covered by only some sources (1)
The previous amendment was drafted by Banco Master's staff and delivered to the parliamentarian
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What is the specific content of the newly resubmitted amendment and how does it differ from the previous version investigated by the Federal Police?
Why it's still unknown: Sources only mention that the proposal expands the FGC limit to R$ 1 million and includes review every four years, but do not detail the complete text or specific changes from the previous version
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What will be the amendment's process in Congress and which committees will it go through?
Why it's still unknown: There is no information about the specific legislative process the proposal will follow
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What is the estimated fiscal impact of the proposal to expand the FGC to R$ 1 million?
Why it's still unknown: Although Pública mentions expert analyses about risks, there are no official government estimates about the measure's cost
Did not cover: O Globo -
What is the federal government's formal position on the proposal to expand FGC coverage?
Why it's still unknown: There are no official statements from the Executive about the amendment's resubmission