Da intervenção no Banco Econômico ao PROER: análise da evolução do desenlace da crise bancária de 1995-96

Abstract

This study aims to review the literature on the outcomes of the national banking crisis of 1995–1996 and investigate the development of intervention mechanisms by the Central Bank of Brazil. After the implementation of the Real Plan, there was a contraction of liquidity in the economy and the end of profits based on inflationary fluctuations, which in the early 1990s accounted for approximately 4% of Brazil's GDP. This represented a fatal blow to several financial institutions, leading to what can be considered the largest banking crisis in democratic Brazil. This situation tested the Central Bank of Brazil's ability to act as a lender and regulator of last resort, employing various measures to ensure the solvency of these banks starting in 1995. The intervention in Banco Econômico, the largest of the affected institutions, was abrupt and had significant repercussions on the local economy, with subsequent solutions being handled more smoothly. In this context, the study seeks to comparatively explore the intervention in Banco Econômico and the subsequent formulation of PROER in light of the crisis's resolution.