Caixa Econômica Federal (CEF) will be in the spotlight of the Labor, Administration and Public Service Commission today (Tuesday 9th). MEPs will discuss a number of issues linked to the state bank, such as:
- the restructuring of Caixa Econômica Federal;
- privatization of lotteries of Caixa Econômica Federal;
- the institution's Voluntary Withdrawal Plan;
- the accounting maneuver to cover expected losses with defaults in the real estate financing portfolio;
- the devaluation of real estate repossessed by the bank;
- the appointment of the "personal trainer" Cleyton Carregari to the position of consultant of Caixa and
- the withdrawal of the Fund from the Board of Trustees of the FGTS.
The holding of the hearing meets the requirements of deputy Érika Kokay (PT-DF). Regarding the possibility of privatizing the Caixa lotteries, for example, she recalls that in 2017 these games collected almost R$ 13.9 billion (US$ 3.63bn), of which R$ 5.4 billion (US$ 1.4bn) were transferred to social programs of the federal government, such as Fies (Student Financing Fund). "If the Instant Lottery is privatized, the social transfer should be lowered," says the parliamentarian.
On the expected losses with defaults on the real estate loan portfolio, Érika Kokay says the bank prepares extraordinary provisions of up to R$ 7 billion (US$ 1.83bn). "The accounting maneuver aims at the accelerated dismantling of the institution in order to make it weak and deficit to pave the way of privatization of strategic sectors," she criticizes.
The MEP also recalls that Caixa recently lost its seat on the Trusteeship Council of the Guarantee Fund for Length of Service (FGTS). "The company, which is the manager of one of the largest social investment funds in the world, will only have the function of providing 'technical support' to the said collegiate. A decree also halves the number of workers 'and employers' representatives, from six to only three representatives each," she regrets.
The hearing will take place in Plenary from 9:00 to 2:00pm.
Source: GMB/ Agência Câmara
