Instruction Normative BCB No. 672 — Amends Instruction Normative BCB No. 584 of January 28, 2025

INSTRUCTION NORMATIV BCB NO. 672, OF OCTOBER 2, 2025

Amends
Instruction Normative BCB No. 584, of January 28, 2025.

The Head of the Department of Prudential and Exchange Regulation – Dereg, Substitute, in the exercise of the powers conferred upon her by art. 23, caput, item I, letter “a”; and art. 119, caput, item I, letter “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, and considering the provisions of arts. 8 and 11 of Resolution No. 4,606, of October 19, 2017, arts. 3 and 6 of Resolution BCB No. 198, of March 11, 2022, arts. 7 and 9 of Resolution BCB No. 201, of March 11, 2022, and Circulars Nos. 3,861 and 3,863, both of December 7, 2017, Resolution BCB No. 202, of March 11, 2022, and Resolution BCB No. 437, of November 28, 2024,

R E S O L V E:

Art. 1. Lines 12 and 15 of Annex I of Instruction Normative BCB No. 584, of January 28, 2025, published in the Official Gazette of the Union on January 30, 2025, shall enter into force with the following alterations:

No	Provision of Relevant Resolutions	Value – V and Accounting Rubrics
12	Res No. 4,606, art. 9, caput, items I, II and IV; Res BCB No. 198, art. 4, caput, items I, II and IV; and Res BCB No. 201, art. 8, caput, items I, II and IV.	Goodwill, intangible assets and investments subject to prudential adjustments: V = (i) + (ii) + (iii) + (iv) + (v) + (vi) + max[0, (vii) - abs(viii)] + max[0, (ix) - abs(x)] + (xi) + (xii) + (xiii) + (xiv) + max[0, (xv) - (xvi)] + (xvii) + (xviii) + (xix) + (xx) + (xxi) + (xxii) + (xxiii) + (xxiv) + (xxv) + (xxvi) + (xxvii), where: (i) 1.3.1.10.95.00-2: Titles that Compose the Reference Capital of Institutions Authorized to Operate by the Central Bank; (ii) 1.3.1.20.00.00 - 3: VARIABLE INCOME TITLES; (iii) 1.3.1.30.20.00-6: Participation in Companies Controlled by a Central Credit Cooperative; (iv) 1.3.1.30.90.00-5: Other Participations; (v) 1.3.1.85.25.00-1: Titles that Compose the Reference Capital of Institutions Authorized to Operate by the Central Bank; (vi) 1.3.1.85.26.00-0: Titles that Compose the Reference Capital of Financial Institutions Abroad; (vii) 1.9.8.70.40.00-3: Intangibles; (viii) 1.9.8.97.40.00-2: (-) Intangibles; (ix) 1.9.8.80.40.00-2: Intangibles, (x) 1.9.8.98.40.00-5: (-) Intangibles; (xi) 2.1.1.00.00.00-8: Investments Abroad; (xii) 2.1.2.00.00.00-5: Participations in Affiliates, Controlled and Jointly Controlled Entities in the Country; (xiii) 2.3.5.00.00.00-2: Intangible; (xiv) 2.5.1.00.00.00-0: Intangible Assets; (xv) 2.5.2.00.00.00-7: Goodwill in the Acquisition of Investment; (xvi) 4.9.4.30.20.00-2: Provisions for Goodwill of Investments Based on Expectation of Future Profitability; (xvii) 1.3.1.30.10.00-9: Participation in Authorized Entity Controlled by a Credit Cooperative or Confederation of Service; (xviii) 1.3.1.30.15.00-4: Participation in Cooperatives, Except Central Credit Cooperative; (xix) 1.3.1.85.60.00-4: Other Variable Income Titles; (xx) 1.3.6.10.80.00-5: Variable Income Titles; (xxi) 1.3.6.15.80.00-0: Variable Income Titles; (xii) 1.3.6.16.80.00-3: Variable Income Titles; (xxiii) 1.3.6.20.80.00-4: Variable Income Titles; (xxiv) 1.3.9.10.30.00-1: Lent Variable Income Titles; (xxv) 1.9.1.20.00.00-1: INVESTMENTS HELD FOR SALE; (xxvi) 3.0.9.73.21.10-8: Shareholders' Equity; and (xxvii) 3.0.9.73.21.20-1: Eligible Investments.
15	Res No. 4,606, art.9, caput, item VI; Res BCB No. 198, art.4, caput, item VI; and Res BCB No. 201, art.8, caput, item VI.	Tax credits resulting from temporary differences subject to prudential adjustments: V = (i) + (ii) + (iii) + (iv), where: (i) 3.0.9.84.21.00-7: AFD Temporary Difference - Passive Provisions - Fiscal and Pension Contingencies; (ii) 3.0.9.84.29.00-9: Deferred Tax Assets of Temporary Difference - Passive Provisions - Others; (iii) 3.0.9.84.30.00-5: Deferred Tax Assets of Temporary Difference - Mark-to-Market; and (iv) 3.0.9.84.40.00-2: Deferred Tax Assets of Temporary Difference - Others.

Art. 2. Line 2 of Annex II of Instruction Normative BCB No. 584, of January 28, 2025, published in the Official Gazette of the Union on January 30, 2025, shall enter into force with the following alteration:

No	Provision of Relevant Resolutions	Fixed Value – VI and Accounting Rubrics
Calculation of the Fixed Asset Limit:
2	Res No. 4,606, art. 14; and Res BCB No. 201, art. 14.	(i) 2.0.0.00.00.00-8: Permanent Asset; (a1) 2.1.1.00.00.00-8: Investments Abroad; (a2) 2.1.2.00.00.00-5: Participations in Affiliates, Controlled and Jointly Controlled Entities in the Country; (a3) 2.3.0.00.00.00-7: LEASING ASSET; (a4) 2.5.1.00.00.00-0: Intangible Assets; (a5) 2.5.2.00.00.00-7: Goodwill in the Acquisition of Investment; and (a6) 4.9.4.30.20.00-2: Provisions for Goodwill of Investments Based on Expectation of Future Profitability.

Art. 3. Lines 9, 25, 27, 37, 38 and 41 of Annex IV of Instruction Normative BCB No. 584, of January 28, 2025, published in the Official Gazette of the Union on January 30, 2025, shall enter into force with the following alterations:

No	Provision of Resolution BCB No. 437, of 2024	Non-Exposure Value – VNE, Exposure Value – VE and Accounting Rubrics
9	Art. 4, § 2, item VIII, letter “a”.	Exemptions for Type 2 due to legal or regulatory prohibition: VNE = [(i) + (ii) + (iii) + (iv)] – [(v) + (vi) + (vii)], where: (i) 3.3.4.10.10.00-0: Credit Commitments; (ii) 3.3.4.20.10.00-9: Credit Commitments; (iii) 3.3.4.10.20.00-7: Credit to be Disbursed; (iv) 3.3.4.20.20.00-6: Credit to be Disbursed; (v) 4.8.1.10.00.00-6: PROVISION FOR EXPECTED LOSSES WITH CREDIT COMMITMENTS; (vi) 4.8.1.20.00.00-5: PROVISION FOR EXPECTED LOSSES WITH CREDITS TO BE DISBURSED; and (vii) 4.8.3.20.00.00-9: PROVISION FOR EXPECTED LOSSES WITH FINANCIAL GUARANTEES PROVIDED.
Reduced Credit Risk Category II:
25	Art. 8, caput, item I, letter “h”.	TVMs linked to the provision of guarantees: VE = (i) - (a1) - (a2) - (a3) - (a4) - (a5), where: (i) 1.3.6.00.00.00-0: Linked to the Provision of Guarantees; (a1) 1.3.6.25.00.00-3: TITLES LINKED TO BALANCES IN PRE-PAID ACCOUNTS; (a2) 1.3.6.10.80.00-5: Variable Income Titles; (a3) 1.3.6.15.80.00-0: Variable Income Titles; (a4) 1.3.6.16.80.00-3: Variable Income Titles; and (a5) 1.3.6.20.80.00-4: Variable Income Titles.
27	Art. 8, caput, item I, letter “j” and art. 8, § 1, item II.	TVMs linked to loan operations: VE = 105% x [(i) - (a1)], where: (i) 1.3.9.00.00.00-1: Linked to Loan Operations; and (a1) 1.3.9.10.30.00-1: Lent Variable Income Titles.
37	Art. 9, caput, item II, letter “b” and art. 9, § 3.	Credit commitments: VE = 40% x [(i) + (ii) - (iii)], where: (i) 3.3.4.10.10.00-0: Credit Commitments; (ii) 3.3.4.20.10.00-9: Credit Commitments; and (iii) 4.8.1.10.00.00-6: PROVISION FOR EXPECTED LOSSES WITH CREDIT COMMITMENTS.
38	Art. 9, caput, item II, letter “c”.	Credit to be disbursed: VE = (i) + (ii) + (iii), where: (i) 3.3.4.10.20.00-7: Credit to be Disbursed; (ii) 3.3.4.20.20.00-6: Credit to be Disbursed; and (iii) 4.8.1.20.00.00-5: PROVISION FOR EXPECTED LOSSES WITH CREDITS TO BE DISBURSED.
Standard Credit Risk Category:
41	Art. 10, caput, item II.	Investment fund shares, except Credit Rights Investment Funds – FIDC: VE = (i) – (a1) – (a2) – (a3) – (a4), where: (i) 1.3.1.15.00.00-9: INVESTMENT FUND SHARES; (a1) 1.3.1.15.60.00-1: Fund Shares in Credit Rights; (a2) 1.3.1.15.35.00-5: Fund Shares in Stocks; (a3) 1.3.1.15.70.00-8: Fund Shares in Emerging Companies; and (a4) 1.3.1.15.75.00-3: Fund Shares in Participations.

Art. 4. Line 7 of Annex V of Instruction Normative BCB No. 584, of January 28, 2025, published in the Official Gazette of the Union on January 30, 2025, shall enter into force with the following alteration:

No	Provision of Circular No. 3,863, of 2017	Value – V and Accounting Rubrics
Components of the Simplified Indicator of Exposure to Operational Risk – 𝐵𝐼𝑆𝑖𝑚p
7	Art. 4, § 2, item V.	Operational revenues – ORO: V = (i) + (ii) + (iii) + (iv), where: (i) 7.1.9.17.00.00-9: INCOME FROM AVAILABILITIES IN FOREIGN CURRENCIES; (ii) 7.1.9.18.00.00-2: INCOME FROM ADVANCEMENT OF PAYMENT TRANSACTION OBLIGATIONS; (iii) 7.1.9.85.00.00-6: INCOME FROM SPECIFIC CREDITS; and (iv) 7.1.9.99.00.00-7: OTHER OPERATIONAL INCOME.
Elements that must be deducted from the amounts recorded in account 7.1.7.00.00.00-5:

Art. 5. This Instruction Normative enters into force on the date of its publication.

KATHLEEN KRAUSE

INFORMATION NOTE

Amends Instruction Normative BCB No. 584, of 2025, which details the accounting rubrics to be used in the calculation of the minimum requirements for Simplified Reference Capital (PRS5) and Payment Institution Reference Capital (PRIP); and of the amounts of risk-weighted assets in simplified form (RWAS5) and risk-weighted assets for payment institutions (RWAIP).

The Instruction Normative hereby issued promotes improvements in the simplified risk calculation model, applicable to institutions of Segment 5 (S5) and Type II, namely in Annexes I, II, IV and V of Instruction Normative BCB No. 584, of January 28, 2025.

2. Annex I deals with the calculation of Simplified Reference Capital (PRS5) and Payment Institution Reference Capital (PRIP), governed by CMN Resolution No. 4,606, of 2017, and BCB Resolutions No. 198 and 201, of 2022. As provided in these resolutions, the calculation of regulatory capital must consider prudential adjustments related to (i) direct and indirect investments in other entities and (ii) tax credits resulting from temporary differences that depend on the generation of future taxable profits or revenues for their realization.

3. Indeed, the improvements in line 12 of Annex I are intended to consider, in the calculation of regulatory capital, all direct investments in variable income instruments provided for in the accounts representing the Assets of the Accounting Plan of Institutions Regulated by the Central Bank of Brazil (Cosif), as well as exclusively indirect investments recorded through clearing accounts.

4. Moreover, in line 15 of Annex I, the values recorded in account - 3.0.9.84.15.00-6: “Deferred Tax Assets of Temporary Difference - PCLD - Art 6 of Law 14.467” are no longer deducted. This is because, according to the governing legislation, they do not depend on taxable profit for realization and, therefore, are not deducted in the complete model of regulatory capital (PR), governed by CMN Resolution No. 4,955, of 2021, and BCB Resolution No. 199, of 2022. Thus, this improvement aligns the simplified model with that provided for in the complete model of regulatory capital calculation.

5. Annex II deals with the calculation of the fixed asset limit (LI), governed by CMN Resolution No. 4,606, of 2017, and BCB Resolution No. 201, of 2022. This improvement incorporates into the LI calculation the regulatory exemption of values corresponding to leasing operations, provided for in art. 2, § 4, of CMN Resolution No. 4,957, of 2021[1]. That is, the entire value recorded in Cosif account 2.3.0.00.00.00-7: “LEASING ASSET” is no longer considered in the LI calculation. Likewise, specific passive provisions for elements recorded in subaccounts of the cited group 2.3 of Cosif are incorporated into the LI calculation.

6. Annex IV deals with the calculation of the capital requirement for credit risks through a simplified approach, governed by BCB Resolution No. 437, of 2024. Indeed, two changes are made: (1) exclusion of accounts related to promises of financing and installments of financing to be disbursed (lines 9, 37 and 38) and (2) designation of variable income title accounts (lines 25, 27 and 41).

7. The exclusions are made because their values also compose other accounts used for the calculation of their exposure values or non-exposure values. Therefore, the adjustment aims to avoid double counting in the prudential calculation.

8. As for the inclusion of variable income title accounts, it aims to align the adjustments proposed in Annex I with Annex IV. That is, to the extent that the values specified in Annex I are to be deducted in the calculation of simplified regulatory capital, they should not be considered in the calculation of simplified credit risk in Annex IV.

9. Finally, Annex V deals with the calculation of the capital requirement for operational risk coverage through a simplified approach, governed by Circular No. 3,863, of 2017. The improvement provided for in line 7 of this Annex reflects the update of the other operational income account, due to the issuance of the new Cosif Plan. Thus, account 7.1.9.99.00.00-7 – Other Operational Incomes is now considered.

10. In this regard, considering the provisions of item II of art. 4 of Decree No. 10,411, of June 30, 2020, which allows the exemption from conducting a regulatory impact analysis (AIR) in the case of a normative act intended to regulate rights or obligations defined in a hierarchically superior norm that does not allow, technically or legally, different regulatory alternatives, I decide to exempt the regulatory impact analysis provided for in art. 5 of Law No. 13,874, of September 20, 2019. After all, the proposed norm only indicates the Cosif accounting rubrics that correspond to the elements described in CMN resolutions, BCB resolutions and Circulars, with no regulatory choice being envisioned.

11. In this context, based on the provisions of art. 23, item I, letter “a”, of the Internal Regulations of this Central Bank, I resolve to issue the instruction normative in the form of the attached draft.

KATHLEEN KRAUSE
Head of the Department of Prudential and Exchange Regulation, Substitute

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[1] Art. 2, § 4 For the purpose of verifying compliance with the limit referred to in the caput, the values corresponding to leasing operations shall not be computed.