Lula's Bank Records Challenge

Brazil's president Lula announced he will authorize courts to open his bank and phone records, and those of his family, as a challenge to rival Flávio Bolsonaro.

“Lula will prepare powers of attorney covering himself and his children, if Flávio does the same with his parents and brothers”

Condition for Access

The offer depends on Flávio Bolsonaro granting the same access for himself and his family before the October 25 runoff election.

Who Receives Records

The records are to go to Kássio Nunes Marques, president of the electoral court (TSE), and Edson Fachin, president of the Supreme Federal Court (STF).

Timing of Challenge

Lula raised the idea during the October 18 runoff debate on Band television, questioning Flávio about alleged ties to ex-banker Daniel Vorcaro.

Bolsonaro's Response

Flávio Bolsonaro neither accepted nor refused the proposal publicly, instead hinting Lula receives 'dirty money on the side' in his video.

“Lula receives dirty money on the side”

What It Means

The offer gives Lula a way to turn the debate attack back on his rival in the final week of the election campaign.

Prediction Markets

Prediction markets show Flávio Bolsonaro has a 76.8% chance of winning the October 25 runoff and Lula 23.5%.

What's Next

Flávio Bolsonaro has one week to accept Lula's challenge before the October 25 runoff election.

“He gave flavio one week to accept”

Why It Matters

Corruption and campaign-finance questions can move Brazilian assets as quickly as a poll can for investors and voters abroad.

What's Unknown

It is unclear whether Lula has signed the letter, when it reaches courts, or if judges will act on it.