large banks in Brazil are subject to strict regulatory requirements and are required to maintain adequate levels of liquidity to ensure their ability to meet their obligations, including those to foreign depositors.
the Brazilian banking system has faced some challenges in recent years, including a recession, political instability, and a credit crunch. Additionally, the COVID-19 pandemic has had a significant impact on the Brazilian economy and financial system. Brazilian banks and financial institutions have generally demonstrated resilience and have been able to maintain adequate levels of capitalization and liquidity. As with any investment,︀ it is important to conduct thorough research and due diligence before depositing funds with a︁ Brazilian bank or financial institution.
As I mention in some other thread , it is︃ not banking system but It is the justice system that make your money safe and︄ you get better sleep at night...Better to focus on How justice system works in that︅ country than focusing on banking regulation....If justice system is not fair or transparent ...banking regulation︆ is just a piece of paper...
I am not expert