Regulatory Alerts2026-08-27 | Resolução CMN 5339Added
CMN Resolution No. 5,339 — Amends the Annex to CMN Resolution No. 4,995, of March 24, 2022
This resolution amends the annex to CMN Resolution No. 4,995 of March 24, 2022, establishing annual limits for credit operations contracted with public sector bodies and entities by financial institutions authorized by the Central Bank of Brazil. It defines specific monetary thresholds in Brazilian Reais for operations with and without Union guarantee for the years 2018 through 2026, including distinct allocations for states, municipalities, Union entities, and state-owned enterprises. The text specifies particular limits for entities such as ENBPar, Eletronuclear, and Correios, as well as for operations under the New Growth Acceleration Program (PAC) and Public-Private Partnerships (PPPs).
The Central Bank of Brazil, pursuant to art. 9 of Law No. 4.595, of December 31, 1964, makes public that the National Monetary Council, in an extraordinary session held on August 27, 2026, in view of the provisions of art. 4, heading, items VI, VIII and X, of the aforementioned Law,
R E S O L V E D :
Art. 1 The annex to CMN Resolution No. 4,995, of March 24, 2022, published in the Official Gazette of the Union on March 28, 2022, shall come into force with the amendments contained in the annex to this Resolution.
Art. 2 This Resolution enters into force on the date of its publication.
GABRIEL MURICCA GALÍPOLO President of the Central Bank of Brazil
ANNEX
(Annex to CMN Resolution No. 4,995, of March 24, 2022)
Annual limit for contracting credit operations for bodies and entities of the public sector to be observed by financial institutions and other institutions authorized to operate by the Central Bank of Brazil.
| Year | Operations with Union guarantee | Operations without Union guarantee | Total |
|---|---|---|---|
| 2018 | Up to R$13.000.000.000,00 | Up to R$11.000.000.000,00 | Up to R$24.000.000.000,00 |
| 2019 | Up to R$13.500.000.000,00 | Up to R$11.000.000.000,00 | Up to R$24.500.000.000,00 |
| 2020 | Up to R$9.000.000.000,00 | For bodies and entities of the states, the Federal District and the municipalities<br>Up to R$11.000.000.000,00<br>For bodies and entities of the Union<br>Up to R$400.000.000,00 | Up to R$20.400.000.000,00 |
| 2021 | Up to R$6.500.000.000,00 | For bodies and entities of the states, the Federal District and the municipalities, excluding state-owned enterprises referred to in art. 10 (repealed on January 1, 2023)<br>Up to R$10.500.000.000,00<br>For state-owned enterprises referred to in art. 10 (repealed on January 1, 2023)<br>Up to R$3.000.000.000,00<br>For bodies and entities of the Union<br>Up to R$500.000.000,00 | Up to R$20.500.000.000,00 |
| 2022 | Up to R$6.500.000.000,00 | For bodies and entities of the states, the Federal District and the municipalities, excluding state-owned enterprises referred to in art. 10 (repealed on January 1, 2023)<br>Up to R$10.500.000.000,00<br>For state-owned enterprises referred to in art. 10 (repealed on January 1, 2023)<br>Up to R$1.000.000.000,00<br>For bodies and entities of the Union<br>Up to R$625.000.000,00 | Up to R$18.625.000.000,00 |
| 2023 | Up to R$15.000.000.000,00 | For bodies and entities of the states, the Federal District and the municipalities<br>Up to R$18.000.000.000,00<br>For bodies and entities of the Union<br>Up to R$625.000.000,00<br>For Brazilian Company for Participations in Nuclear and Binational Energy S/A – ENBPar, exclusively for the implementation of the Angra 3 Nuclear Power Plant<br>Up to R$2.300.000.000,00<br>For Eletrobras Termonuclear S/A – Eletronuclear, exclusively for the implementation of the Angra 3 Nuclear Power Plant<br>Up to R$1.200.000.000,00 | Up to R$37.125.000.000,00 |
| 2024 | Up to R$17.500.000.000,00 | For bodies and entities of the states, the Federal District and the municipalities<br>Up to R$7.000.000.000,00<br>For operations covered under the New Growth Acceleration Program – PAC<br>Up to R$500.000.000,00<br>For operations covered under the New PAC<br>Up to R$500.000.000,00<br>For contracting under Public-Private Partnerships – PPPs<br>Up to R$500.000.000,00<br>For bodies and entities of the Union<br>Up to R$625.000.000,00<br>For Brazilian Company for Participations in Nuclear and Binational Energy S/A – ENBPar<br>Up to R$1.736.839.681,00<br>For Eletrobras Termonuclear S/A – Eletronuclear<br>Up to R$2.713.812.002,00 | Up to R$31.075.651.683,00 |
| 2025 | Up to R$12.100.000.000,00 | For bodies and entities of the states, the Federal District and the municipalities<br>Up to R$6.000.000.000,00<br>For Brazilian Company of Mail and Telegraphs – Correios<br>Up to R$12.000.000.000,00<br>For operations covered under the New PAC<br>Up to R$2.900.000.000,00<br>For Brazilian Company for Participations in Nuclear and Binational Energy S/A – ENBPar<br>Up to R$1.736.839.681,00<br>For bodies and entities of the Union<br>Up to R$2.425.000.000,00<br>For Eletrobras Termonuclear S/A – Eletronuclear<br>Up to R$2.263.812.002,00 | Up to R$39.425.651.683,00 |
| 2026 | Up to R$7.000.000.000,00 | For bodies and entities of the states, the Federal District and the municipalities<br>Up to R$6.000.000.000,00<br>For operations covered under the New PAC<br>Up to R$2.800.000.000,00<br>For operations covered under the New PAC<br>Up to R$2.200.000.000,00<br>For Brazilian Company of Mail and Telegraphs – Correios<br>Up to R$8.000.000.000,00<br>For bodies and entities of the Union<br>Up to R$625.000.000,00 | Up to R$26.625.000.000,00 |
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