BCB Resolution No. 512 — Amends BCB Resolution No. 188 of February 23, 2022, regarding compulsory reserve requirements on savings deposit funds

BCB RESOLUTION NO. 512, OF OCTOBER 10, 2025

Amends BCB Resolution No. 188, of February 23, 2022, which defines and consolidates the rules for compulsory collection on savings deposit funds.

The Collegiate Board of the Central Bank of Brazil, in an extraordinary session held on October 9, 2025, based on art. 10, caput, items III and IV, of Law No. 4,595, of December 31, 1964, and art. 66 of Law No. 9,069, of June 29, 1995,

R E S O L V E :

Art. 1º BCB Resolution No. 188, of February 23, 2022, published in the Official Gazette of the Union on February 25, 2022, and corrected in the Official Gazette of the Union on March 8, 2022, shall be in effect with the following alterations:

"Art. 6º-A The exigibility of the compulsory collection on savings deposit funds in the free modality allows for the deduction of the nominal value of contracting real estate credit operations, as established in this Resolution.

§ 1º The deduction referred to in the caput is limited:

I - to 5% (five percent) of the calculation base, until the calculation period starting on December 28, 2026, and ending on December 31, 2026, whose compliance will occur between January 11, 2027, and January 15, 2027; and

II - to the percentage of the calculation base referred to in item I, increased by 1.5 (one and five tenths) percentage points per year, adjusted in the first calculation period of each year, starting from the calculation period starting on January 4, 2027, and ending on January 8, 2027, whose compliance will occur between January 18, 2027, and January 22, 2027.

§ 2º For the purposes of the deduction referred to in the caput, real estate credit operations contracted from October 13, 2025, that observe the parameters provided in CMN Resolution No. 5,255, of October 10, 2025, as defined by the Department of Banking Operations and Payment System, will be considered.

§ 3º The real estate credit operations used for the purpose of the deduction referred to in the caput could not have been computed for compliance with the direction of resources captured in savings deposits as regulated by Resolution No. 4,676, of July 31, 2018." (NR)

Art. 2º This Resolution enters into force on the date of its publication.

NILTON JOSÉ SCHNEIDER DAVID
Monetary Policy Director