Brazil's central bank stated on Thursday that the potential impact of the accounting scandal involving retailer Americanas SA on banks would be 'insignificant' even in an extreme scenario, Reuters reported. The statement was made in the minutes of last week's Financial Stability Committee meeting, which had decided to maintain a neutral macroprudential policy due to no significant increase in financial risks. Americanas filed for bankruptcy in January after disclosing "accounting inconsistencies" worth 20 billion reais ($3.84 billion), leading banks to increase their provisioning in their most recent earnings release. The central bank noted that the provisions stem from "a specific event related to a large company" and have already absorbed most of the materialization of the risk. "The central bank estimated the remaining potential impact, plus a contagion scenario over the entire production and supply chain that depends on the company in a relevant way," it said. "In this extreme scenario, the impact on the consolidated financial system is insignificant and there would be no capital default in any financial institution," it added. Read more.