The president of BRB, Nelson Antônio de Souza, confirmed this Tuesday (9) that the state bank of the Federal District BRB needs R$8.8 billion to face "possible losses" arising from business done with Banco Master, owned by banker Daniel Vorcaro. According to Souza, the “provisioning” or “capitalization” will function as a necessary reserve to preserve the institution’s financial strength, preventing the bank from going bankrupt. The value was calculated after an internal audit discovered that, of the R$30 billion in titles purchased from Master, at least R$8.8 billion could be lost. Of these, at least R$2.6 billion is unbacked, that is, there is no real guarantee that BRB will be reimbursed. Related news: BRB postpones release of balance sheet after bailout agreement with the Union. Understand an operation worth up to R$6.5 billion to help BRB. BRB changes rules and allows partial contributions to increase capital. To cover the gap and calm account holders and the market, the Government of the Federal District (GDF), the bank's main shareholder, with 53.7% of the shares, structured a bill that, if approved by the Legislative Chamber of the Federal District, will authorize it to make a loan of R$6.6 billion to the Credit Guarantee Fund (FGC) – a private entity maintained with mandatory contributions from public and private banks. The operation was approved by the Federal Supreme Court (STF) at the end of May. "How are we going to complete the R$ 8.8 billion [of provisioning]? With the securitization of the GDF debt", explained Souza when participating, this Tuesday (9), in a public hearing held by the Senate's Economic Affairs Committee (CAE). Securitization allows the GDF to receive maturing credits in advance. In the first stage, on May 25, BRB received R$1.17 billion, already paid in. Souza's expectation is that the bank will raise, with the mechanism, at least another R$3 billion through the structured financial operation with the participation of the BTG Pactual bank. “We will only need R$ 2.2 billion to have a contribution of R$ 8.8 billion”, said Souza, highlighting that, to fully move the plan forward, it is necessary for the Legislative Chamber of the Federal District to approve the bill already approved by the STF. "It's a very important bill for the survival of BRB. Fundamental", commented Souza, recognizing that, today, BRB is "the biggest problem" of the national financial system and that the recovery of the state bank is not being easy. “This problem [involving Master] is much bigger and BRB is the biggest victim”, the president of BRB, referring to the fact that the bank manages around R$30 billion in judicial deposits collected by order of courts of justice in four states (AL; BA; MA and PB) and the Federal District. Furthermore, BRB currently accounts for around 64% of real estate financing in the Federal District, controlling a portfolio of almost R$15 billion.  “If BRB disappears, is liquidated or even is sanctioned by the Central Bank with a temporary extraordinary administration regime [Raet, an intervention], it will be a problem not only for Brasília, but for all places where the bank is present”, commented Souza. The president of BRB guaranteed that, with the provisioning, the bank has structural conditions to continue operating. “Today, he is healthier than he was in November, when I arrived. He has never failed to fulfill an obligation and continues to operate regularly.”