Latin America Financials: Citi‘s Daily Statement – 2026.06.23 – BCB and CVM Restructure; PicPay Press Release; Digimais

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Latin America Financials: Citi‘s Daily Statement – 2026.06.23 – BCB and CVM Restructure; PicPay Press Release; Digimais

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23 Jun 2026 09:03:33 ET │ 12 pages

Latin America Financials

Citi’s Daily Statement – 2026.06.23 – BCB and CVM Restructure; PicPay

Press Release; Digimais

CITI’S TAKE

Daily report over key topics of LatAm financial companies under Citi’s

coverage.

Gustavo SchrodenACUpcoming Citi Virtual Meetings:

Virtual Meeting with Gentera’s CFO and IRO (Today at 12pm ET) +55-11-4009-5858

gustavo.schroden@citi.com

Arnon Shirazi, CFA

Government plans to restructure Central Bank and CVM after Banco Master scandal +55-11-4009-7906

(NeoFeed, Jun 23) arnon.shirazi@citi.com

The Brazilian government is preparing a restructuring of the Central Bank (BC) and the Brian Flores, CFA

securities regulator (CVM) following the Banco Master scandal, focusing on +55-11-4009-2842

strengthening supervision through increased staffing and institutional reforms. Plans luis.brian.flores@citi.com

include authorizing a new public exam for the BC with over 100 positions and sending

a bill to Congress to create around 30 new roles at the CVM, which currently has no

vacancies. Both institutions face capacity constraints: the BC has about 3,310

employees but thousands of vacant positions and rising supervisory demands, while

the CVM has roughly 482 staff but needs hundreds more to oversee a rapidly

expanding market.

PicPay Clarifies Media Reports on Investigation in Brazil’s Federal District (Company

filing, Jun 22)

PicPay issued a clarification regarding media reports about an investigation into

alleged improper payroll deductions affecting public servants in Brazil’s Federal

District. The company stated that the product in question allowed workers to access