Febraban reiterates support for pro-democracy manifesto and withdraws from Fiesp | finance

THE Brazilian Federation of Banks (Febraban) issued a statement reaffirming support for the manifesto “The Square belongs to the Three Powers”, which generated divergences within the entity, with Box and Bank of Brazil threatening to leave the institution. Febraban stressed that the initial approval of support for the document took place “within a pluri-federative context of representative entities of the productive sector” and said that “the only purpose is to defend the harmony of the institutional environment in the country”.

THE Federation of Industries of the State of São Paulo (fiesp) assumed the coordination of the process of collecting signatures in support of the manifesto and was responsible for the publication. And Febraban says that the content of the manifesto has now been widely publicized by the media and, given that, “it will no longer be bound by the decisions of Fiesp, which, without consulting other entities, decided to postpone the publication of the manifesto without a date.”

Febraban denied Caixa and BB’s request to discuss, in a new meeting, the adhesion to the manifesto, and said that it “expresses respect for the option” of public banks, which took a stand against the signing of the document. Even so, he reinforced his support for the text’s content, saying that it joins the other productive sectors in Brazil “in a request for balance and serenity, basic elements of a solid and vigorous democracy.”

See the full Febraban press release:

The Brazilian Federation of Banks (FEBRABAN) reaffirms the support lent to the manifesto “The Square is of the Three Powers”, whose adhesion took place, since the beginning, within a pluri-federative context of representative entities of the productive sector and whose sole purpose is to defend the harmony of the institutional environment in the country.

The Federation of Industries of the State of São Paulo (FIESP) assumed the coordination of the signature collection process and was responsible for the publication, according to an e-mail sent to more than 200 entities last August 27th.

FEBRABAN considers that the content of the manifesto, approved by its own governance, was widely publicized by the country’s media, fulfilling its purpose. The Federation expresses respect for the option of Banco do Brasil and Caixa Econômica Federal, which took a stand against the signing of the manifesto.

In view of this, FEBRABAN assesses that, within its scope, the matter is closed and, therefore, it will no longer be bound by FIESP’s decisions, which, without consulting the other entities, decided to postpone the publication of the manifesto without a date.

FEBRABAN confirms its support for the content of the text it approved, which is already widely known to the public, thus fulfilling its role by joining the other productive sectors in Brazil in a request for balance and serenity, fundamental elements of a solid and vigorous democracy.