CMN Resolution No. 5.344

The Central Bank of Brazil, in the form of art. 9 of Law No. 4.595, of December 31, 1964, makes public that the National Monetary Council, in an extraordinary session held on October 29, 2026, in view of the provisions of arts. 3, caput, items IV, VI and VII, and 4, caput, items VI, VIII and X, of the aforementioned Law,

HAS RESOLVED:

Art. 1 The annex to CMN Resolution No. 4.995, of March 24, 2022, published in the Official Gazette of the Union of March 28, 2022, shall come into force with the amendments set forth in the annex to this Resolution.

Art. 2 This Resolution shall come 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 public sector bodies and entities 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

Up to R$11,000,000,000.00

Up to R$20,400,000,000.00

For bodies and entities of the Union

Up to R$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 the state-owned companies referred to in art. 10 (revoked on January 1, 2023)

Up to R$10,500,000,000.00

Up to R$20,500,000,000.00

For the state-owned companies referred to in art. 10 (revoked on January 1, 2023)

Up to R$3,000,000,000.00

For bodies and entities of the Union

Up to R$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 the state-owned companies referred to in art. 10 (revoked on January 1, 2023)

Up to R$10,500,000,000.00

Up to R$18,625,000,000.00

For the state-owned companies referred to in art. 10 (revoked on January 1, 2023)

Up to R$1,000,000,000.00

For bodies and entities of the Union

Up to R$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

Up to R$18,000,000,000.00

Up to R$37,125,000,000.00

For bodies and entities of the Union

Up to R$625,000,000.00

For Empresa Brasileira de Participações em Energia Nuclear e Binacional S/A – ENBPar, exclusively for the implementation of the Angra 3 Nuclear Power Plant

Up to R$2,300,000,000.00

For Eletrobras Termonuclear S/A – Eletronuclear, exclusively for the implementation of the Angra 3 Nuclear Power Plant

Up to R$1,200,000,000.00

2024

Up to R$17,500,000,000.00

For bodies and entities of the states, the Federal District and the municipalities

Up to R$7,000,000,000.00

Up to R$31,075,651,683.00

For operations covered under the New Growth Acceleration Program – PAC

Up to R$500,000,000.00

For operations covered under the New PAC

Up to R$500,000,000.00

For contracts under Public-Private Partnerships – PPPs

Up to R$500,000,000.00

For bodies and entities of the Union

Up to R$625,000,000.00

For Empresa Brasileira de Participações em Energia Nuclear e Binacional S/A – ENBPar

Up to R$1,736,839,681.00

For Eletrobras Termonuclear S/A – Eletronuclear

Up to R$2,713,812,002.00

2025

Up to R$12,100,000,000.00

For bodies and entities of the states, the Federal District and the municipalities

Up to R$6,000,000,000.00

Up to R$39,425,651,683.00

For Empresa Brasileira de Correios e Telégrafos – Correios

Up to R$12,000,000,000.00

For operations covered under the New PAC

Up to R$2,900,000,000.00

For Empresa Brasileira de Participações em Energia Nuclear e Binacional S/A – ENBPar

Up to R$1,736,839,681.00

For bodies and entities of the Union

Up to R$2,425,000,000.00

For Eletrobras Termonuclear S/A – Eletronuclear

Up to R$2,263,812,002.00

2026

Up to R$10,000,000,000.00

For bodies and entities of the states, the Federal District and the municipalities

Up to R$7,000,000,000.00

Up to R$30,625,000,000.00

For operations covered under the New PAC

Up to R$2,800,000,000.00

For operations covered under the New PAC

Up to R$2,200,000,000.00

For Empresa Brasileira de Correios e Telégrafos – Correios

Up to R$8,000,000,000.00

For bodies and entities of the Union

Up to R$625,000,000.00