2018-07-31 | Resolução CMN 4676

Added 2026-09-25

CMN Resolution No. 4676 — Regulates the Brazilian Savings and Loan System (SBPE), the Housing Finance System (SFH), and the Real Estate Financing System (SFI), general conditions for real estate financing, and the allocation of savings deposit resources

CMN Resolution No. 4676 establishes the components of the SBPE, SFH, and SFI, and sets general conditions and criteria for real estate financing by financial institutions. It mandates that savings deposit resources be allocated with at least 65% in real estate financing operations, subject to specific eligibility rules and calculation bases. The resolution defines loan-to-value limits of 80% for residential acquisitions and 60% for home equity loans, with a maximum effective cost of 12% per annum for SFH operations. It also introduces transitional provisions for the adjustment of existing loan balances and the phasing out of previous multiplier benefits.

Brazil

Banco Central do Brasil

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The Central Bank of Brazil, pursuant to Article 9 of Law No. 4,595 of December 31, 1964, makes public that the National Monetary Council, in a session held on July 31, 2018, based on Articles 4, items VI and VIII, of the aforementioned Law, Article 8, item XII, of Law No. 4,380 of August 21, 1964, Article 7 of Decree-Law No. 2,291 of November 21, 1986, Article 2 of Law No. 9,514 of November 20, 1997, Article 10, sole paragraph, of Law No. 10,150 of December 21, 2000, Article 79, § 2, of Law No. 11,977 of July 7, 2009, and Article 95 of Law No. 13,097 of January 19, 2015,

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Lineage: Superseded

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Show all related documents (23)

Superseded by: CMN Resolution No. 5,048 — Revokes Normative Acts Already Tacitly Revoked or Whose Effects Have Expired2022
Supersedes: Resolution dated 1993-04-30not in RegAlertResolution No. 3157 dated 2003-12-17not in RegAlertResolution No. 4650 dated 2018-03-28not in RegAlert
Amended by: CMN Resolution No. 5,255 — Amends Resolution No. 4,676 of July 31, 2018 Regarding the SBPE, SFH, and SFI Systems2025 Resolution CMN No. 5197 of December 19, 20242024 CMN Resolution No. 5,055 of December 15, 2022, amending Resolution No. 4,676 of July 31, 2018, regarding real estate financing conditions and savings fund allocation2022 CMN Resolution No. 4925 of June 24, 2021, amending Resolution No. 4,676 of July 31, 2018, and Resolution No. 3,919 of November 25, 20102021 Central Bank Resolution CMN No. 4837 Amending Resolution No. 4676 on Real Estate Financing Conditions2020 CMN Resolution No. 4819 - Amends Resolution No. 4,676 Regarding Real Estate Financing Conditions2020
Issued under: Act No. 2291 dated 1986-11-21not in RegAlertLaw No. 10150 dated 2000-12-21not in RegAlertLaw No. 11977 dated 2009-07-07not in RegAlertLaw No. 13097 dated 2015-01-19not in RegAlertLaw No. 4380 dated 1964-08-21not in RegAlertLaw No. 4595 dated 1964-12-31not in RegAlert
+1 more
Law No. 9514 dated 1997-11-20not in RegAlert
Basis for: BCB Normative Instruction No. 765 — Procedures for Information on Allocation of Savings and Interbank Real Estate Deposit Funds2026 BCB Normative Instruction No. 707 — Clarifies conditions for real estate credit operations sharing the same property as collateral2026 Normative Instruction BCB No. 692 — Establishes Procedures for Reporting Information on the Allocation of Savings Deposit Resources and Real Estate Financing2025
Referred to by: Normative Instruction BCB No. 733 of May 4, 20262026 CMN Resolution No. 5,254 — Amending CMN Resolution No. 5,209 Regarding Financial Charges, Financing Terms, and Commissions for Social Fund Operations under the Minha Casa, Minha Vida Program2025 BCB Instruction Normative No. 1 — Amends the Layout and Filling Instructions for Document 3040 - Credit Risk Data2020

Timeline

Amended 7 times · last 2025-10-10

2025-10-10BCBCMN Resolution No. 5,255 — Amends Resolution No. 4,676 of July 31, 2018 Regarding the SBPE, SFH, and SFI Systemsamends
2024-12-19BCBResolution CMN No. 5197 of December 19, 2024amends
2022-12-15BCBCMN Resolution No. 5,055 of December 15, 2022, amending Resolution No. 4,676 of July 31, 2018, regarding real estate financing conditions and savings fund allocationamends
2022-11-25BCBCMN Resolution No. 5,048 — Revokes Normative Acts Already Tacitly Revoked or Whose Effects Have Expiredsupersedes
2021-06-24BCBCMN Resolution No. 4925 of June 24, 2021, amending Resolution No. 4,676 of July 31, 2018, and Resolution No. 3,919 of November 25, 2010amends

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works