Instruction Normative BCB No. 643 — Amends Instruction Normative BCB No. 560 of December 6, 2024, Clarifying Criteria for Applying CMN Resolution No. 4,966 and BCB Resolution No. 352

INSTRUCTION NORMATIVE
BCB NO. 643, OF JULY 17, 2025

Amends
Instruction Normative BCB No. 560, of December 6, 2024, which clarifies criteria to be observed in the application of CMN Resolution No. 4,966, of November 25, 2021, and BCB Resolution No. 352, of November 23, 2023.

The Head of the Department of Financial System Regulation (Denor), in the use of the attribution that is conferred upon him by art. 23, item I, letter "a", of the Internal Regulations of the Central Bank of Brazil, annexed to BCB Resolution No. 340, of September 21, 2023, and based on art. 67, item III, letter "c", of CMN Resolution No. 4,966, of November 25, 2021,

R E S O L V E
:

Art. 1º The
Instruction Normative BCB No. 560, of December 6, 2024, published in the Official Gazette of the Union on December 10, 2024, shall enter into force with the following changes:

“Art. 8º-A The concepts of restructuring established in art. 2, item XXI, of CMN Resolution No. 4,966, of 2021, and in art. 2, item XXI, of BCB Resolution No. 352, of 2023, do not include renegotiations that imply concessions to the counterparty as a result of decisions of the National Monetary Council or by virtue of other legal measures.

Sole Paragraph. The provisions of the caput do not apply to concessions to the counterparty with relevant deterioration of its credit quality.” (NR)

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

MARDILSON FERNANDES
QUEIROZ

NOTE 449/2025 –
BCB/DENOR, OF JULY 17, 2025

Justifies proposal for the issuance of an instruction normative to amend the Instruction Normative BCB No. 560, of December 6, 2024, which clarifies criteria to be observed in the application of CMN Resolution No. 4,966, of November 25, 2021, and BCB Resolution No. 352, of November 23, 2023.

Mr. Head of Denor,

1. The
   present Note justifies the proposal for the issuance of an instruction normative to amend the Instruction Normative BCB No. 560, of December 6, 2024, which clarifies criteria to be observed in the application of CMN Resolution No. 4,966, of November 25, 2021, and BCB Resolution No. 352, of November 23, 2023, according to the competence of the Department of Financial System Regulation (Denor), in the use of the attribution that is conferred upon him by art. 23, item I, letter "a", of the Internal Regulations of the Central Bank of Brazil, annexed to BCB Resolution No. 340, of September 21, 2023.

2. After the
   issuance of CMN Resolution No. 4,966, of 2021, and BCB Resolution No. 352, of 2023, the units linked to the Director of Supervision (Difis) of this Central Bank, in the process of monitoring the implementation of the provisions of these normative acts, encountered doubts from supervised institutions regarding the correct application of some concepts and criteria established by these Resolutions. Thus, in order to guarantee the homogeneous application of the norms by all institutions, Instruction Normative BCB No. 560 of December 6, 2024, was issued, with the pertinent clarifications.

3. Subsequently,
   with the entry into force of the aforementioned Resolutions, doubts arose regarding the application of the concept of restructuring, especially in cases involving renegotiations of rural credit operations resulting from regulation by the National Monetary Council (CMN). Considering that restructuring is an objective indicator for characterizing the financial asset with a problem of credit recovery, which has effects on the provisioning of the operation, it is necessary to clarify the aforementioned doubts, in order to avoid, even, difficulties in making some credit modalities viable.

4. As
   established in item XXI of art. 2 of CMN Resolution No. 4,966, of 2021, and in item XXI of art. 2 of BCB Resolution No. 352, of 2023, restructuring is a renegotiation that implies significant concessions to the counterparty, as a result of the relevant deterioration of its credit quality, which would not be granted if such deterioration did not occur. Thus, the definition of restructuring presupposes that the concession occurred due to the worsening of the credit quality of the counterparty. Thus, it is necessary to clarify that the concept of restructuring established in item XXI of art. 2 of CMN Resolution No. 4,966, of 2021, and in item XXI of art. 2 of BCB Resolution No. 352, of 2023, does not include renegotiations that imply significant concessions to the counterparty, as a result of decisions of the National Monetary Council or of other legal measures, since they are applicable to a large number of operations and counterparties. Exception to this rule are concessions to counterparties with relevant deterioration of their credit quality.

5. In
   compliance with the provision of art. 5 of Law No. 13,874, of September 20, 2019, Decree No. 10,411, of June 30, 2020, determines that proposals for normative acts of general interest of economic agents formulated by bodies and entities of the direct, autarchic and foundation federal public administration, as well as by collegial bodies through the body or entity responsible for providing administrative support, must be preceded by regulatory impact analysis (RIA).

6. However,
   as provided in art. 4, item V, letter "b", of this Decree, the requirement to prepare an RIA may be waived for a normative act that seeks to preserve the integrity of the financial market. Thus, the instruction normative now proposed is exempt from the preparation of an RIA.

For your consideration.

UVERLAN
RODRIGUES PRIMO

Deputy Head

Agreed.

MARDILSON
FERNANDES QUEIROZ

Head of Department