At the beginning of 2026, the scenario for Brazilian investors presents significant changes, with the Selic rate set at 15%. Since November 2025, the Central Bank (BC) put Banco Master into liquidation, which led the Credit Guarantee Fund (FGC) to start reimbursing investors affected by these measures.
Banco Master had offered Bank Deposit Certificates (CDBs) with yields between 130% and 190% of the Interbank Deposit Certificate (CDI), drawing attention for the high return. However, the FGC reimbursement process may extend for weeks or even months, which has directly influenced the change in investors’ behavior in the country.
In this context, safety has prevailed over profitability in financial decisions. While the economy projects a gradual decline of the Selic throughout this year, specialists recommend that investors do not exceed the coverage limit guaranteed by the FGC to reduce risks related to troubled financial institutions.
Diversification of assets has gained even more importance, as well as the careful evaluation of banks’ solidity. Among the investments considered safer, the Selic Treasury stands out as it is guaranteed by the federal government, providing greater stability given the current scenario.
Furthermore, assets such as the dollar and gold have been recommended as protection against global instabilities that also affect the national market. Fixed-rate CDBs offered by platforms like XP present rates close to 15.2% per year for short terms, reflecting the high Selic and the appeal for stable alternatives.
To protect against the impact of inflation, securities indexed to the IPCA with maturity in 2030 have offered returns between IPCA plus 7.5% and 8%. In this context, specialists recommend limiting exposure to a single issuer to a maximum of 10% of the portfolio, balancing safety and diversification.
Fixed income funds that follow the CDI, as well as Real Estate Credit Notes (LCI) and Agribusiness Credit Notes (LCA), appear as advantageous options for being exempt from Income Tax, attracting more conservative investors. On the other hand, high credit risks have been identified in some offers with returns far above the market average, signaling the need for caution.
The experience with Banco Master’s liquidation has raised expectations of stricter regulations governing the FGC, which may change guarantees and future procedures. Meanwhile, those who had funds blocked seek to apply recovered amounts prioritizing safer alternatives with adequate liquidity.
Additionally, specialists indicate that it is essential for investors to regularly check public information about risk ratings and the financial situation of institutions. Thus, each investor’s risk profile should guide choices and reinforce the importance of diversification to avoid losses in unstable scenarios.
The conclusion of the process still depends on the continuation of reimbursement by the FGC and the adaptation of investors to the new economic environment, with an emphasis on the protection of resources. The next step involves stricter regulation of guarantee funds and reassessment of the risk appetite of Brazilian investors in 2026.
