Central Bank of Brazil Instruction Normative No. 721 of April 2, 2026

Resolution No. 222

INSTRUCTION NORMATIVE BCB No. 721, OF APRIL 2, 2026

Amends the BCB Instruction Normative No. 85, of March 10, 2021, which establishes the procedures for sending information regarding the calculations of limits and regulatory standards referred to in Art. 3 of BCB Resolution No. 69, of February 10, 2021, and amends the filling instructions and layout of document code 2062 - Individual Operational Limits Demonstration - DLI, as provided for in BCB Instruction Normative No. 85, of March 10, 2021.

The Head of the Department of Monitoring of the Financial System – Desig, in the exercise of the authority conferred upon him by Art. 23, item I, letter “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to BCB Resolution No. 340, of September 21, 2023, based on Art. 85, item I, letters “a” and “b”, of said Regulations, in view of the provisions of Joint Resolution No. 14, and BCB Resolution No. 517, both of November 3, 2025,

R E S O L V E:

Art. 1º The preamble of Instruction Normative No. 85, of March 11, 2021, published in the Official Gazette of the Union (DOU) on 3/11/2021, Section 1, p. 55, and republished in the DOU on March 12, 2021, Section 1, p. 112, shall enter into force with the following alterations:

“The Head of the Department of Monitoring of the Financial System – Desig, in the exercise of the authority conferred upon him by Art. 23, item I, letter “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to BCB Resolution No. 340, of September 21, 2023, based on Art. 85, item I, letters “a” and “b”, of said Regulations, and in view of the provisions of Joint Resolution No. 14, of November 3, 2025, of CMN Resolutions Nos. 4.693, of October 29, 2018, 5.008 of March 24, 2022, 5.047, of November 25, 2022, 5.051, of November 25, 2022, and 5.169, of August 22, 2024, and of BCB Resolutions Nos. 69, of February 10, 2021, 80 of March 25, 2021, 334 of August 16, 2023, and 517, of November 3, 2025,

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Art. 2º Instruction Normative No. 85, of 2021, published in the DOU on March 11, 2021, Section 1, p. 55, and republished in the DOU on March 12, 2021, Section 1, p. 112, shall enter into force with the following alterations:

“Art. 2º ...................................................................................................................................

I - guarantees for financing for the purchase of securities, guarantees for loans of securities for sale, and the set of operations for financing the purchase of securities and operations for lending securities for sale, in relation to securities brokerage companies and securities distribution companies, as provided for in CMN Resolution No. 5.008, of March 24, 2022;

II - paid-in share capital and net worth, in relation to financial institutions and other institutions authorized to operate by the Central Bank of Brazil, as provided for in Joint Resolution No. 14, of November 3, 2025, and BCB Resolution No. 517, of November 3, 2025;

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IV - collection through time deposits and financial letters, in relation to development banks, as provided for in CMN Resolution No. 5.047, of November 25, 2022;

V - obtaining loans or financing from financial institutions, in relation to securities brokerage companies and securities distribution companies, as provided for in CMN Resolution No. 5.008, of March 24, 2022;

VI - credit operations of a credit cooperative with the sharing of resources and risks with other credit cooperatives belonging to the same cooperative system, as provided for in CMN Resolution No. 5.051, of November 25, 2022; and

VII - issuance of the Development Credit Note – LCD, as provided for in CMN Resolution No. 5.169, of August 22, 2024.

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“Art. 4º ...................................................................................................................................

Sole Paragraph. The indication referred to in this article must be registered in the Information System on Entities of Interest to the Central Bank (Unicad), as provided for in BCB Resolution No. 209, of March 22, 2022.” (NR)

Art. 3º The new versions of the layout and filling instructions for document code 2062 - Individual Operational Limits Demonstration – DLI, available on the Central Bank of Brazil’s website at the electronic address https://www.bcb.gov.br/estabilidadefinanceira/leiautedocumentoscrd, shall enter into force, starting from the July 2026 data base.

Art. 4º The following modifications were made to the Filling Instructions:

I - in Chapter II - General Guidelines: alteration in items 8.a and 8.b;

II - in Chapter IV - Specific Guidelines:

a) alteration of item “1) Calculation of Minimum Net Worth Limit and Minimum Paid-in Share Capital”;

b) exclusion of items:

1. “2 - Calculation of Minimum Net Worth Limit and Minimum Realized Capital of Development Agencies”;

2. “6 - Calculation of Specific Limits Applicable to Microentrepreneur Credit Companies and Small Business Credit Companies”;

3. “7 – Calculation of Limits Applicable to Direct Credit Companies and Peer-to-Peer Lending Companies”; and

4. “9 – Calculation of Net Worth Limits, Minimum Paid-in Share Capital of Service Confederation”;

c) sequential reordering of remaining items;

III - in Chapter V - Table 001 - Limits:

a) inclusion of codes: 01.00 and 02.00; and

b) exclusion of codes: 06.00, 08.00, 38.00, 39.00, 56.00, 58.00, 76.00, 78.00, 91.00, 92.00, 93.00 and 94.00;

IV - in Chapter V - Table 003 - Accounts:

a) alteration of the nomenclature and all accounts of the items:

1. “A) Detailing of Minimum Net Worth Limit – Minimum PL”; and

2. “B) Detailing of Minimum Realized Capital Limit”;

b) inclusion of items:

1. “C) Detailing of the Limit of Collection by Means of Time Deposits and Financial Letters”;

2. “D) Detailing of the Annual Limit of Development Credit Note Issuances”; and

3. “E) Detailing of the Total Limit of Development Credit Notes Issued”;

c) exclusion of items:

1. “I) Detailing of the Minimum Net Worth Limit – Development Agencies”;

2. “J) Detailing of the Minimum Realized Capital Limit – Development Agencies”;

3. “K) Detailing of the Minimum PL Limit of Microentrepreneur Credit Company (SCM)”;

4. “L) Detailing of the Minimum Paid-in Share Capital Limit of SCM”;

5. “M) Detailing of the Minimum Net Worth Limit of Credit Cooperatives”;

6. “M2) Detailing of the Minimum Paid-in Share Capital Limit of Credit Cooperatives”;

7. “N) Detailing of the Minimum Paid-in Share Capital Limit – SCD and SEP”;

8. “O) Detailing of the Minimum Net Worth Limit – SCD and SEP”;

9. “P) Detailing of the Minimum Net Worth Limit – Service Confederation”; and

10. “Q) Detailing of the Minimum Paid-in Share Capital Limit – Service Confederation”; and

d) renumbering of items:

1. “C) Detailing of the Limit of Operations with Related Parties”;

2. “D) Detailing of the Limit of Operations with Related Parties – Natural Person”;

3. “E) Detailing of the Limit of Operations with Related Parties – Legal Entity”;

4. “F) Detailing of the Limit of Securities Lending and Financing for Purchase of Securities Operations”;

5. “G) Detailing of the Limit of Securities Financing Operations”;

6. “H) Detailing of the Limit of Guarantees for Securities Loans”; and

7. “M1) Detailing of the Limit of Risk Sharing of Credit Cooperatives”.

Art. 5º The following modifications were made to the layout:

I - in Annex 2 - Limits:

a) inclusion of codes: 01.00 and 02.00; and

b) exclusion of codes: 06.00, 08.00, 38.00, 39.00, 56.00, 58.00, 76.00, 78.00, 91.00, 92.00, 93.00 and 94.00;

II - in Annex 4 - Accounts:

a) inclusion of accounts: 1.00.00 to 2.90.40.90.01; and

b) exclusion of accounts: 6.00.00 to 6.90.10.21, 6.90.40 to 8.90.40.90, 38.00.00 to 76.90.90.02 and 78.00.00 to 94.90.00.

Art. 6º This Instruction Normative enters into force on July 1, 2026.

ANDRÉ MAURÍCIO TRINDADE DA ROCHA

NOTE

The Individual Operational Limits Demonstration – DLI, document code 2062, whose normative basis is BCB Resolution No. 69, of February 10, 2021, reflects the prudential regulation provided for in several resolutions issued by the National Monetary Council – CMN and the Central Bank of Brazil – BCB, and BCB Instruction Normative No. 85, of March 10, 2021, aims to present, in a synthetic manner, the procedures for sending information regarding the detailing of the calculation of individual limits monitored by the BCB, at the data base of its calculation.

2. On November 4, 2025, Joint Resolution No. 14 and BCB Resolution No. 517 were published, which provide for the methodology for calculating the minimum limits of paid-in share capital and net worth of financial institutions and other institutions authorized to operate by the Central Bank of Brazil. According to these Resolutions, the definition of these minimum limits will take into account mainly the activities carried out, and no longer the specific type of institution. In light of this, it was necessary to redefine account groups in the DLI so that institutions can correctly report their calculated values for the minimum paid-in share capital and minimum net worth limits.

3. This Instruction Normative aims to:

I - update the normative citations of Instruction Normative No. 85, of 2021, which were revoked;

II - amend BCB Instruction Normative No. 85, of 2021, the Filling Instructions and the DLI Layout to align them with the provisions of Joint Resolution No. 14, of 2025, and BCB Resolutions No. 69, of February 10, 2021, and 517, of 2025, encompassing:

a) inclusion of limits that were already in BCB Resolution No. 69, of 2021, but were not yet in BCB IN No. 85, of 2021;

b) inclusion of new account groups, so that institutions send information regarding the minimum limits of:

1. paid-in share capital; and

2. net worth.

c) exclusion of account groups that will become obsolete with the implementation of the new methodology for calculating minimum limits of paid-in share capital and net worth; and

d) reordering, in the filling instructions, the guidelines regarding the remaining account groups.

4. Decree No. 10.411, of June 30, 2020, regulates the conduct of regulatory impact analysis – AIR as a prerequisite for the issuance of normative acts of general interest to economic agents. However, in its Art. 4, the aforementioned decree establishes the hypotheses for exemption from conducting AIR. This BCB IN falls under the hypotheses provided for in item II - normative act intended to regulate rights or obligations defined in a hierarchically superior norm that does not allow, technically or legally, different regulatory alternatives, IV - normative act that aims to update or revoke norms considered obsolete, without change of merit, and VII - normative act that reduces requirements, obligations, restrictions, requests or specifications with the objective of reducing regulatory costs.

5. As clarified in paragraphs 2 and 3, with the issuance of Joint Resolution No. 14 and BCB Resolution No. 517, both of 2025, it was necessary to make adjustments to the DLI, thus justifying the classification of this Instruction Normative under item II of Art. 4 of Decree No. 10.411, of 2020. In addition, the normative references are being updated, which justifies the classification of this Instruction Normative under item IV, and the exclusion of accounts that will become obsolete with the entry into force of the new methodologies for calculating minimum limits of paid-in share capital and net worth, which justifies its classification under item VII of Art. 4 of said Decree.

6. Thus, based on the provisions of paragraphs 4 and 5, I understand that the issuance of this Instruction Normative is exempt from conducting AIR.

ANDRÉ MAURÍCIO TRINDADE DA ROCHA Head of the Department of Monitoring of the Financial System