Regulatory Alerts2026-07-20 | Instrução Normativa BCB 764Added · Updated
BCB Normative Instruction No. 764 — Procedures for Selection of Accredited Dealers for Demab
This Normative Instruction establishes the procedures for selecting up to twelve financial institutions accredited to operate as dealers with the Open Market Operations Department (Demab), reserving two vacancies for independent brokers. Selection is determined by semi-annual performance evaluations based on weighted factors including outright and repurchase operations, with the three lowest-ranked institutions de-accredited each cycle. The document defines specific scoring formulas, evaluation periods, and communication protocols for accreditation and de-accreditation, entering into force on August 3, 2026, with effects from August 10, 2026.
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