Does the Central Bank of Brazil have private account holders/clients and can issue instruments on behalf of their clients? Based on the info I have this can not be done by Central Banks but I have an associate that tells me that it is true for Brazil; your feedback will be appreciated.
Post by atumdjeheuty on Jul 20, 2016 23:09:18 GMT 4
depends what you consider private accounts, the Brazil Central Bank is not a private bank but is managing some accounts as a depositary. In some jurisdictions the central bank is the depositary for electronic treasury accounts, and it is the clearing bank for very big transfers as well as most national money moves, as such there are some non-banks with bank like treasury departments which have clearing accounts with a central bank.
there is a transaction running around for a year now which has been offered all around, its bank instruments issued by the Central Bank of Brazil backed by very old treasury notes that can not be verified, pre-advises get issued and than things break down, turns out the cover is fake and the guy within the Central Bank does not have the position and is asking for a bribe to get it done, would not be surprised if that bribe is wasted money. its just a complicated up front cost scam