Brazil central bank enters Ambipar bankruptcy as court adviser, warning a frozen Deutsche Bank collateral ruling threatens $132bn in FX hedge positions.
Key Facts
—The move. Brazil’s central bank has entered the Ambipar bankruptcy case as a technical adviser to the court.
—The trigger. It is contesting a court order that froze Deutsche Bank collateral tied to currency-hedge contracts.
—The worry. The bank warns the ruling threatens legal certainty across Brazil’s foreign-exchange hedging market.
—The scale. That market held about R$707bn ($132bn) in short positions in late 2025, across dozens of banks.
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