The Financial Espresso "Desenrola for defaulters and update; B3 & CRDC; ..."

Research evidence excerpt

The Financial Espresso "Desenrola for defaulters and update; B3 & CRDC; ..."

Global Research

26 May 2026ab

The Financial Espresso Equities

Latin AmericaDesenrola for defaulters and update; B3 &

CRDC; Laqus; Akua in Brazil ; BRB's Financial

capitalization KaioAnalystPrato

kaio.prato@ubs.com

+55-11-3513 6573

Banking sector sees upside risk in the cost of credit with Desenrola for Thiago Batista, CFA

Analystdefaulters

thiago.batista@ubs.com

According to Valor, representatives from the banking sector are expressing concerns +55-11-3513 6518

regarding the government's proposal to introduce a Desenrola program for

Camila Azevedo

Brazilians who are current on their debt payments. The prevailing view is that

Associate Analyst

implementing a debt renegotiation initiative for this group could disrupt the camila.azevedo@ubs.com

structure of the credit market, leading to higher risk premiums and increased +55-11-2767 6881

banking spreads, ultimately resulting in higher interest rates on unsecured loans.

Bruno Kenji

The banking sector believes that debt renegotiation programs should focus

exclusively on delinquent borrowers. Launching a program targeting borrowers who bruno.kenji@ubs.com

are current on their payments could create adverse incentives within the credit +55-11-2767 6056

market. Additionally, there is a risk that this initiative might encourage default

Olavo Arthuzo

behavior, as individuals may begin to neglect their debt obligations in anticipation

Analyst

of the government's renegotiation program. As a recap, last week, the Minister of olavo.arthuzo@ubs.com

Finance, Mr. Dario Durigan, announced that the government plans to roll out the +55-11-2767 6306

next phase of Desenrola for performing debts by June. Our take: In our view, while

Beatriz Shinye