Regulatory Alerts2026-06-11 | Resolução CMN 5308CMN Resolution No. 5308 — Regulations on Financing Supported by National Social Infrastructure Investment Fund (FIIS) Resources for Public Security
The National Monetary Council, through the Central Bank of Brazil, issued Resolution No. 5308 to regulate financing operations using reimbursable resources from the National Social Infrastructure Investment Fund (FIIS) specifically for public security projects. The resolution establishes strict operational parameters, including a maximum repayment term of twenty years with up to twenty-four months of principal grace period, and defines specific interest rates and remuneration caps for the BNDES, accredited financial agents, and the FIIS itself. Additionally, it clarifies that the BNDES retains risk exposure toward the FIIS in both direct and indirect operations, while prohibiting the capitalization of interest during the grace period.
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