Analysis-Brazil shackles public pension funds after Banco Master meltdown
Brazil’s biggest bank failure in recent history has led to an aggressive crackdown on public pension funds, which were among its creditors, limiting their portfolios in ways that could make it harder to hit their long-term targets. The new restraints for public pension funds, which manage some $73 billion in Brazil, are part of the widening fallout from the liquidation of Banco Master, with consequences for politicians, a state-run lender and even central bankers. Although Master was not considered a systemic...
