BCB Resolution No. 189, of February 23, 2022

Defines and consolidates the rules for the compulsory levy on demand funds and incorporates rules for the compulsory levy on deposit funds and realized guarantees.

The Collegiate Board of the Central Bank of Brazil, in a session held on February 23, 2022, based on Article 10, items III and IV, of Law No. 4,595, of December 31, 1964, and Article 66 of Law No. 9,069, of June 29, 1995,

RESOLVES:

CHAPTER I

GENERAL RULES

Art. 1. This Resolution provides for the compulsory levy on demand funds.

Art. 2. Multiple banks and investment banks holding a Bank Reserves account, exchange banks holding a Bank Reserves account, commercial banks, and savings banks are subject to the compulsory levy on demand funds. (Amended, effective January 1, 2025, by BCB Resolution No. 426, of October 16, 2024.)

Sole Paragraph. For the purpose of calculating the compulsory levy, funds captured by multiple banks, exchange banks, investment banks, and credit, financing, and investment companies are also considered demand funds, as referred to in the caput, provided that these entities do not hold a Bank Reserves account, in the case of the aforementioned banking institutions, that are part of a prudential conglomerate of an institution subject to the compulsory levy on demand funds. (Amended, effective January 1, 2025, by BCB Resolution No. 426, of October 16, 2024.)

Art. 3. The Value Subject to Levy (VSR) consists, on each business day, of the balances recorded in the following accounting items of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif): (Amended, effective January 1, 2025, by BCB Resolution No. 426, of October 16, 2024.)

I - 4.1.1.00.00.00-6 Demand Deposits; (Amended, effective January 1, 2025, by BCB Resolution No. 426, of October 16, 2024.)

II - 4.9.9.65.00.00-5 THIRD-PARTY TRANSIT FUNDS; (Amended, effective August 1, 2025, by BCB Resolution No. 486, of July 3, 2025.)

III - 4.9.1.00.00.00-0 Collection and Collection of Taxes and Similar Items; (Amended, effective January 1, 2025, by BCB Resolution No. 426, of October 16, 2024.)

IV - 4.9.9.05.00.00-1 ADMINISTRATIVE CHECKS; (Amended, effective January 1, 2025, by BCB Resolution No. 426, of October 16, 2024.)

V - 4.9.9.12.10.00-8 Linked to Operations Carried Out in the Country; (Amended, effective January 1, 2025, by BCB Resolution No. 426, of October 16, 2024.)

VI - 4.9.9.27.00.00-5 PAYMENT OBLIGATIONS IN THE NAME OF THIRD PARTIES; (Amended, effective January 1, 2025, by BCB Resolution No. 426, of October 16, 2024.)

VII - 4.9.9.60.00.00-0 FUNDS FROM REALIZED GUARANTEES; and (Amended, effective January 1, 2025, by BCB Resolution No. 426, of October 16, 2024.)

VIII - 4.1.9.50.00.00-7 PAYMENT ORDERS IN NATIONAL CURRENCY. (Added, effective January 1, 2025, by BCB Resolution No. 426, of October 16, 2024.)

§ 1. (Revoked, effective January 1, 2025, by BCB Resolution No. 426, of October 16, 2024.)

§ 2. (Revoked, effective August 1, 2025, by BCB Resolution No. 486, of July 3, 2025.)

§ 3. The values recorded in the VSR accounts of the institutions referred to in the sole paragraph of Article 2, in which at least one of the members is subject to the compulsory levy on demand funds, must be reported by the participant with the highest VSR.

Art. 4. The calculation base for the compulsory levy on demand funds corresponds to the arithmetic mean of the VSRs calculated during the calculation period, minus R$500,000,000.00 (five hundred million reais).

Sole Paragraph. The calculation period begins on the Monday of one week and ends on the Friday of the following week.

Art. 5. The liability for the compulsory levy on demand funds is calculated by applying, to the calculation base referred to in Article 4, a rate of 21% (twenty-one percent).

CHAPTER II

EXEMPTION

Art. 6. A financial institution that has a liability equal to or less than R$500,000.00 (five hundred thousand reais) is exempt from the obligation to levy, but must provide the information provided for in Article 15 of this Resolution.

CHAPTER III

LEVY

Art. 7. Compliance with the liability is verified based on the positions calculated on each business day of the movement period, which begins on the Monday of the second week following the end of the calculation period and ends on the Friday of the subsequent week.

§ 1. For the purpose of the verification referred to in the caput of this article, position is considered the daily balance registered in the Bank Reserves account at the close of the regular operating schedule of participants in the Reserve Transfer System (STR), calculated before the start of the additional window for contributions to Instant Payments Account (Conta PI), as provided in the STR Regulation.

§ 2. The arithmetic mean of the institution's positions during the movement period must correspond to 100% (one hundred percent) of the liability calculated for the respective period.

§ 3. At the time of calculating the balance referred to in § 1, the institution's position must be equivalent to at least 65% (sixty-five percent) of the liability calculated for the respective period.

CHAPTER IV

FINANCIAL COST

Art. 8. A financial institution that fails to observe the rules regarding compliance with the liability for the compulsory levy on demand funds incurs the payment of a financial cost.

Art. 9. The financial cost for a deficiency in the daily position of the compulsory levy on demand funds is due on the business day following the date on which the deficiency is verified and is calculated using the following formula:

I - Cvt = financial cost for the deficiency in the daily position verified on day “t”, expressed with 2 (two) decimal places, with mathematical rounding;

II - s = Selic Rate on the date of the deficiency (“t”), expressed in unitary form, with 4 (four) decimal places;

III - r = addition to the Selic Rate, corresponding to 4% (four percent) per year, expressed with 4 (four) decimal places; and

IV - Dvt = deficiency in the daily position of the compulsory levy on day “t”, where Dvt = p x E - St, for all St < p x E, where:

a) St = position on day “t” or closing balance of the respective levy account on business day “t”;

b) p = minimum daily percentage required for the compulsory levy, expressed in unitary form; and

c) E = liability calculated in accordance with Article 5 for the respective movement period.

Sole Paragraph. A financial institution that has a deficiency in the daily position of the compulsory levy on demand funds for 3 (three) business days, consecutive or not, within a period of 10 (ten) business days, must immediately send to the Department of Banking Operations and Payment Systems (Deban) of the Central Bank of Brazil justifications for the occurrence, regardless of the payment of the financial cost.

Art. 10. The financial cost for a deficiency in the average of the daily positions of the compulsory levy on demand funds (Cvp) is due on the business day following the end of the respective movement period and is calculated using the following formula:

I - Cvp = financial cost for the deficiency in the average of the daily positions, expressed with 2 (two) decimal places, with mathematical rounding;

II - s = Selic Rate on the last business day of the movement period, expressed in unitary form, with 4 (four) decimal places;

III - r = addition to the Selic Rate, corresponding to 4% (four percent) per year, expressed with 4 (four) decimal places;

IV - n = number of business days of the respective movement period; and

V - Dvp = deficiency in the average of the daily positions, where:

a) St = position on business day (“t”) of the respective movement period;

b) E = liability calculated in accordance with Article 5 for the respective movement period;

c) Dvt = deficiency in the daily position of the levy on demand funds on day “t”, calculated as in Article 9; and

d) n = number of business days of the respective movement period.

Sole Paragraph. A deficiency in the average of the daily positions equal to or less than 3% (three percent) of the respective liability will not be subject to a financial cost provided that, in the immediately preceding movement period, there is an excess in the average of the daily positions, relative to the corresponding liability, of a value equal to or greater than the deficiency.

Art. 11. The partial results of multiplication, division, and exponentiation used in the algebraic expressions for the calculation of the financial costs referred to in this Resolution must contain 8 (eight) decimal places, with mathematical rounding.

Art. 12. The financial costs referred to in this Resolution, when paid on a date subsequent to the date they are due, will be updated from the date they are due until the date of payment, based on the Selic Rate.

Art. 13. The refund of costs provided for in this Resolution, due to an undue payment, will be made with the update of the value, from the date of payment until the date of refund, based on the Selic Rate.

Art. 14. All movements related to the collection or refund of the financial costs referred to in this Resolution will be carried out through the Central Bank Posting System (SLB).

CHAPTER V

SUBMISSION OF INFORMATION

Art. 15. The institution must provide, by the business day immediately preceding the date on which the respective liability enters into force, the daily data regarding the VSR of the calculation period.

§ 1. A financial institution is exempt from providing the information referred to in this article if the values subject to levy and others related to compliance with the liability and levy deductions remain unchanged relative to the last reported position.

§ 2. In the event of the absence of information regarding one or more days of the calculation period until the end of the deadline set in the caput, each unreported position will be assigned the value of the last reported position.

§ 3. A financial institution that reports or alters data after the deadlines set in this article is subject to the penalties provided for in the current regulation.

Art. 16. The supporting documentation for the information subject to this Resolution, unless otherwise provided, must be kept available to the Central Bank of Brazil for a minimum period of 5 (five) years, counted from the date to which each information refers.

CHAPTER VI

FINAL PROVISIONS

Art. 17. Financial institutions are divided into two segments, named Group “A” and Group “B”, for the purpose of the compulsory levy on demand funds.

§ 1. The calculation and movement periods of Group “A” have a one-week lag relative to those of Group “B”.

§ 2. Deban will publish, through a normative instruction BCB, the procedure for accessing the list discriminating the institutions belonging to each group.

Art. 18. Deban is authorized to adopt the necessary measures for the execution of the provisions of this Resolution.

Art. 19. The provisions of this Resolution must be observed:

I - for financial institutions that are part of Group “A”, starting from the calculation period beginning on June 6, 2022 and ending on June 17, 2022, whose adjustment will occur on June 27, 2022; and (Amended by BCB Resolution No. 227, of April 13, 2022.)

II - for financial institutions that are part of Group “B”, starting from the calculation period beginning on May 30, 2022 and ending on June 10, 2022, whose adjustment will occur on June 20, 2022. (Amended by BCB Resolution No. 227, of April 13, 2022.)

Art. 20. The following are revoked, after the production of their effects, for financial institutions that are part of Group “A”, in the calculation period beginning on May 23, 2022 and ending on June 3, 2022, whose adjustment will occur on June 13, 2022, and, for financial institutions that are part of Group “B”, in the calculation period beginning on May 16, 2022 and ending on May 27, 2022, whose adjustment will occur on June 6, 2022: (Amended by BCB Resolution No. 227, of April 13, 2022.)

I - Circular No. 3,917, of November 22, 2018; and

II - Article 6 of Circular No. 4,038, of July 28, 2020.

Art. 21. This Resolution enters into force on April 1, 2022.

Bruno Serra Fernandes
Monetary Policy Director