Banco Federal's president went on television to reassure investors the bank was operating normally.

WSJ: Ch��vez Spurs Bank Fears

On Thursday afternoon, some 20 people lined up outside a branch Banco Federal CA. "I just want to have my money in my hands, " said Carmen Hernandez, a 33-year-old secretary.

WSJ: Ch��vez Spurs Bank Fears

The government owned banks are all lowered their lending spreads to corporates and individual accounts, too, with private lenders like Itau Unibanco (ITUB) and Bradesco (BBD) following the lead of federal juggernaut Banco do Brasil.

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