In recent months, the FGC (Credit Guarantee Fund) has been in the national news, but the question that remains for most of the population is certainly what this fund is and what its guarantees are.
This approach seeks to provide a historical context involving the Credit Guarantee Fund, known as FGC, demonstrating its evolution and the fundamental role it plays within the National Financial System (SFN).
The FGC is a private, non-profit entity created in the second half of 1995 through Resolutions No. 2.197 and 2.211 of the National Monetary Council (CMN), in response to the recent introduction of the Real Plan and the banking instability that existed at the time.
When it was created, the FGC (Credit Guarantee Fund) sought to reduce investor distrust and strengthen the stability of the financial system. Over more than 30 years of operation, the Fund has consolidated this role. Its main purpose is to protect account holders and investors. To this end, it guarantees the reimbursement of deposits and investments, such as CDBs (Certificates of Deposit), savings accounts, LCIs (Real Estate Credit Bills), and LCAs (Agricultural Credit Bills), up to a limit of R$ 250.000,00 per CPF (Brazilian individual taxpayer ID) or CNPJ (Brazilian company taxpayer ID) and per financial institution, in cases of liquidation or intervention decreed by the Central Bank.
The FGC (Credit Guarantee Fund) is a private, non-profit civil association, managed by an independent Board of Directors and Executive Board. It is an organization with no ties to the government but is overseen by the Central Bank.
The Fund is maintained by associated private financial institutions, such as commercial banks, development banks, and credit societies. These institutions make monthly contributions to build the guarantee fund. In exceptional situations, they may also make advance contributions to ensure reimbursement for account holders and investors. Although private in nature, the FGC is part of the protection network of the National Financial System due to its importance for market stability.
In the current scenario, member banks will advance R$ 32,5 billion to the FGC (Credit Guarantee Fund) by March 25, 2026. This amount corresponds to the ordinary contributions scheduled for the next 60 months. The measure aims to replenish the Fund's cash reserves after the liquidation of Banco Master. Reimbursement to account holders and investors is estimated at R$ 41,5 billion, the largest in the FGC's history. This amount represents almost seven times the total of R$ 6,2 billion paid by the Fund in all liquidations of financial institutions since 1996.
Certainly, after the events involving Banco Master, where the amount exceeded the fund's historical expenditure by seven times, there will be greater control and rigor from institutions associated with the FGC (Credit Guarantee Fund), as well as from the Central Bank itself and other bodies that are part of the National Financial System, not only because of the losses caused to the fund, but also because of the insecurity and instability generated in the market.
For account holders and investors, it is important to verify if the institution is associated with the FGC (Credit Guarantee Fund). They should also observe the five-year deadline, counted from the date of the extrajudicial liquidation decree by the Central Bank, to request reimbursement from the FGC. The coverage limit is up to R$ 250.000,00 per CPF (individual taxpayer ID) or CNPJ (company taxpayer ID) and per financial institution.
The reimbursement process is not automatic and depends on the account holder/investor registering with the FGC's official app or website ( https://www.fgc.org.br/ ). Registration is simple and basically consists of providing your full name, CPF (Brazilian tax identification number), email address, and bank account details for depositing the amounts guaranteed by the fund.
Subsequently, the FGC validates the reported data against the creditor database of the institution undergoing liquidation to determine the amount of credit owed. Then, it cross-references the information and calculates the assets.
Once this step is completed, the FGC releases the payment to the account indicated by the applicant in the credit application. As a rule, reimbursement occurs between 30 and 90 days, which demonstrates the speed of the procedure and reinforces the principles that guide the Fund's operations.
Nowadays, with unrestricted and unlimited access to information, which is literally at our fingertips, there are countless advertisements for investment platforms promising significant gains in a short period of time. However, after making financial contributions, investors are no longer able to access the supposedly earned funds. Warnings are issued on various channels, including the FEBRABAN website ( https://portal.febraban.org.br/noticia/4068/pt-br/ ), reinforcing the need for prior analysis and research before making any investments.
It is important to remain vigilant, as fraudsters create convincing advertisements and promises. They use fake testimonials from investors and market professionals and create groups on messaging apps to give the platform an appearance of credibility. In reality, these platforms have no connection with financial institutions nor do they reflect real market gains, characterizing the well-known "Fake Investment Scam".
For those seeking security and high liquidity with a low risk of loss, it is advisable to opt for fixed-income investments, such as Treasury Selic bonds, CDBs, LCI/LCA bonds, which are guaranteed by the government or the FGC (Credit Guarantee Fund). In other words, regardless of the desired type of return, seeking out solid financial institutions associated with the FGC and with a good market reputation ensures profitability and avoids future problems of not recovering invested amounts.
Article by Cristian Ribeiro
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