BCB Normative Instruction No. 708 — Amends Normative Instruction BCB No. 179, of October 25, 2021, which consolidates and updates procedures for submitting the Cooperative System's Combined Balance Sheet, as per Circular No. 3,669, of October 2, 2013.

Resolution No. 222

NORMATIVE INSTRUCTION
BCB No. 708, OF FEBRUARY 11, 2026

Amends Normative Instruction BCB No. 179, of October 25, 2021, which consolidates and updates the procedures for submitting the Combined Balance Sheet of the Cooperative System, as referred to in Circular No. 3,669, of October 2, 2013.

The Head of the Financial System Monitoring Department – Desig, in the use of the attribution conferred by arts. 23, item I, subparagraph “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, subparagraph “b”, of the aforementioned Regulations, and in view of the provisions of CMN Resolution No. 5,259, of October 23, 2025,

R E S O L V E S:

Art. 1 This Normative Instruction amends Normative Instruction BCB No. 179, of October 25, 2021, due to the publication of CMN Resolution No. 5,259, of October 23, 2025, and BCB Resolution No. 523, of November 17, 2025, which revoked Circular No. 3,669, of October 2, 2013.

Art. 2 The summary of Normative Instruction BCB No. 179, of October 25, 2021, published in the DOU of 10/26/2021, Section 1, p. 40, shall now read as follows:

“Consolidates and updates the procedures for submitting the Combined Balance Sheet of the Cooperative System, as referred to in CMN Resolution No. 5,259, of October 23, 2025.” (NR)

Art. 3 The preamble of Normative Instruction BCB No. 179, of 2021, shall now read as follows:

“The Head of the Financial System Monitoring Department – Desig, in the use of the attribution conferred by arts. 23, item I, subparagraph “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, subparagraph “b”, of the aforementioned Regulations, and in view of the provisions of CMN Resolution No. 5,259, of October 23, 2025,” (NR)

Art. 4 Normative Instruction BCB No. 179, of 2021, shall now read as follows:

“Art. 1 Cooperative banks, credit confederations, service confederations constituted by central credit cooperatives, and central credit cooperatives must submit to the Central Bank of Brazil the Combined Balance Sheet of the Cooperative System, as referred to in art. 5 of CMN Resolution No. 5,259, of October 23, 2025, through the following documents, in accordance with the Annex to this Normative Instruction:

.................................................................................................................................................

II - 4423 - Combined Balance Sheet of the Cooperative System: credit confederations and service confederations constituted by central credit cooperatives; and

.................................................................................................................................................

Art. 2 The institutions mentioned in art. 1 must prepare and submit the Combined Balance Sheet of the Cooperative System even if their equity is already included in a Combined Balance Sheet prepared by another entity of the cooperative system, as provided for in art. 5 of CMN Resolution No. 5,259, of 2025.

.......................................................................................................................................” (NR)

Art. 4 The Annex to Normative Instruction BCB No. 179, of 2021, shall now read as follows:

“ANNEX TO NORMATIVE INSTRUCTION BCB No. 179, OF OCTOBER 25, 2021

Code and name of documents: 4413 - Combined Balance Sheet of the Cooperative System: cooperative commercial bank and cooperative multiple bank;

4423 - Combined Balance Sheet of the Cooperative System: credit confederations and service confederations constituted by central credit cooperatives; and

.......................................................................................................................................” (NR)

Art. 5 This Normative Instruction enters into force on the date of its publication.

ANDRÉ MAURÍCIO TRINDADE DA ROCHA

NOTE

1. The accounting documents 4413 - Combined Balance Sheet of the Cooperative System: cooperative commercial bank and cooperative multiple bank, 4423 - Combined Balance Sheet of the Cooperative System: credit confederations and 4433 - Combined Balance Sheet of the Cooperative System: central credit cooperatives, created based on CMN Resolution No. 4,151, of October 20, 2012, and Circular No. 3,669, of October 2, 2013, and regulated by Normative Instruction BCB (IN BCB) No. 179, of October 25, 2021, are currently prepared by the cooperative commercial bank, the cooperative multiple bank, the credit confederations and the central credit cooperatives and must be submitted to this Authority in accordance with the Accounting Standard for Institutions Regulated by the Central Bank of Brazil – Cosif.

2. CMN Resolution No. 5,259, of October 23, 2025, consolidated the general criteria for the preparation of the Combined Balance Sheet of the Cooperative System and the Combined Financial Statements of the Cooperative System, the submission of the Combined Balance Sheet of the Cooperative System and the disclosure of the Combined Financial Statements of the Cooperative System, as well as revoked CMN Resolution No. 4,151, of October 30, 2012.

3. Among the changes promoted by this Resolution is the inclusion of service confederations constituted by central credit cooperatives in the list of remitters of the Combined Balance Sheet of the Cooperative System, which must send their information through document code 4423. In addition, as explained in Vote 142/2025-BCB, of October 21, 2025, the following entities were added to the list of entities comprising the Combined Balance Sheet of the Cooperative System: consortium administrators; investment funds with retention of risks and benefits; exclusive voluntary guarantee funds of the cooperative systems; entities that acquire credit operations; and legal entities whose exclusive corporate purpose is equity participation in entities belonging to the cooperative system.

4. In turn, BCB Resolution No. 523, of November 17, 2025, revoked Circular No. 3,669, of October 2, 2013. As stated in Vote 170/2025-BCB, of November 17, 2025, the procedures previously regulated by the aforementioned Circular were incorporated into CMN Resolution No. 5,259, of 2025, are already part of Cosif, and are already regulated by norms issued by the BCB and CMN, such as the techniques for accounting combination, which are regulated in BCB Resolution No. 168, of December 1, 2021, and the provisions related to the preparation and submission of the Combined Balance Sheet of the Cooperative System and disclosure of the Combined Balance Sheet of the Cooperative System, which are regulated, respectively, by BCB Resolutions Nos. 146, of September 28, 2021, and 2, of August 12, 2020.

5. This IN BCB amends Normative Instruction BCB No. 179, of 2021, in order to adapt it to the provisions of the current normative framework, encompassing:

I - substitution of the citation to Circular No. 3,669, of 2013, revoked by BCB Resolution No. 523, of 2025, by the citation to CMN Resolution No. 5,259, of 2025, which revoked CMN Resolution No. 4,151, of 2012 and, currently, regulates the criteria for the preparation and submission of the Combined Balance Sheet of the Cooperative System; and

II - inclusion of service confederations constituted by central credit cooperatives in the list of remitters of the Combined Balance Sheet of the Cooperative System.

5. Decree No. 10,411, of June 30, 2020, regulates the performance of regulatory impact analysis – AIR as a prerequisite for the issuance of a normative act. However, in its art. 4, the Decree establishes the hypotheses for exemption from performing AIR. This IN BCB falls under the hypotheses provided for in items II - normative act intended to regulate rights or obligations defined in a hierarchically superior norm that does not technically or legally allow different regulatory alternatives and IV - normative act aimed at updating or revoking norms considered obsolete, without altering the merits.

6. As explained in paragraphs 2 to 4, with the issuance of Resolutions by the CMN and the BCB, there was no alternative but to make adjustments to Normative Instruction BCB No. 179, of October 25, 2021, aiming to adapt it to the currently in force normative framework, which justifies its classification in the exemption from performing AIR provided for in item II of art. 4 of Decree No. 10,411, of 2020. In addition, with the changes promoted by CMN Resolution No. 5,259, of 2025, and the revocation of Circular No. 3,669, of 2013, which until then regulated the matter, it became essential to amend Normative Instruction BCB No. 179, of 2021, with the aim of adapting it to the current normative framework, also justifying the classification of the exemption from performing AIR in item IV of art. 4 of the aforementioned Decree.

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

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