Two of Brazil’s 20 largest banks failed.
- Share via
Comind and Auxiliar, Brazil’s 12th- and 19th-largest banks in assets, respectively, failed along with a third smaller bank, Maisonave, and were put under emergency government control, the Brazilian central bank reported. The banks had made too many bad loans, a central bank statement said. Unofficial economic sources put their total unsecured loans at about $764 million.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
