Normative Instruction BCB No. 683 — Amends Normative Instruction BCB No. 506 of August 29, 2024

Resolution No. 222

NORMATIVE INSTRUCTION
BCB No. 683, OF NOVEMBER 28, 2025

Amends
Normative Instruction BCB No. 506, of August 29, 2024.

The Acting Head of the Open Market Operations Department (Demab), in use of the attribution conferred by art. 23, item I, sub-item “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, and taking into account the provisions of art. 2º of Resolution BCB No. 55, of December 16, 2020,

R E S O L V E S:

Art. 1º The Normative Instruction BCB No. 506, of August 29, 2024, shall enter into force with the following alterations:

“Art. 15. ..................................................................................................................................

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III - included in the screen of the modules Public Offer (Ofpub) or Offer to Dealers (Ofdealers) by the participant for:

a) constitution or early release of voluntary time deposit at the Central Bank of Brazil; and

b) operations referred to in art. 74, item I of the Selic Regulation.

IV - sent by means of a message transmitted on the National Financial System Network (RSFN), according to established by normative issued by the Central Bank of Brazil;

V - sent by means of a file transmitted on the RSFN, by the participant responsible for Direct Treasury, for the commands related to the individualized accounts of Direct Treasury; or

VI - sent by means of the
Pre-matching platform, when this sending is authorized by the participant transmitter of commands related to the 1st endpoint in an intermediation in which there is only a single seller for several buyers (“1:N”) or a single buyer for several sellers (“N:1”).

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§ 2º .........................................................................................................................................

I

• in reverse repurchase operations contracted between parties whose
  settlement agents and command transmitters are distinct, with the exception of operations with non-resident clients and of reverse repurchase operations in which there is a unilateral right of one or both parties to demand return within a certain period:

a) with the operation code “1054”;

b) with the operation codes “1044”, “1047” or “1057”;

II - in reverse repurchase operations contracted with the Central Bank of Brazil by the Ofpub and Ofdealers modules, with the exception of the operations mentioned in item III, sub-item "b" of the caput;

III - in the fractional settlement of purchase or sale operations of securities, contracted in public offer;

IV - in operations of definitive purchase and sale, spot or forward, carried out between:

a) two distinct participants; and

b) a participant and a resident client of another participant; and

V - in operations of definitive purchase and sale spot or forward, with the action of only one intermediary institution and the existence of a single buyer and a single seller, considering the obligation in the purchase or in the sale, as the conditions of item III of § 2º occur:

a) between the selling party and the intermediary institution; or

b) between the intermediary institution and the buying party.” (NR)

Art. 2º The following modification was made in the layout of the annexes:

I - in Annex II – Client Types in Selic: alteration of the denomination of code 25 to Regulated Fund/class (a) by CVM.

Art. 3º This Normative Instruction enters into force on the date of its publication, producing effects from December 1, 2025, except for the alteration provided in art. 15, § 2º, item I, sub-item “b” of the Normative Instruction BCB No. 506, of August 29, 2024, which will produce effects from March 2, 2026.

GUSTAVO
ANDRADE BARBOSA DE SOUZA

NOTE

This normative instruction amends Normative Instruction BCB No.
506, of August 29, 2024, which establishes deadlines, hours and operational procedures provided for in the Regulation of the Special Settlement and Custody System (Selic), annexed to Resolution BCB No. 55, of December 16, 2020.

2. The Decree No. 10.411, of June 30, 2020, regulates the carrying out of regulatory impact analysis (AIR) as a prerequisite to the issuance of normative acts.
   However, in its article 4º, the aforementioned decree establishes the hypotheses of waiver of carrying out AIR. This normative instruction falls under the hypothesis provided for in item III, normative act considered of low impact, as it only guides the execution of an obligation already contained in another current norm. Thus, based on item III of art. 4º of Decree No. 10.411, of 2020, I understand that the issuance of this IN BCB waives the carrying out of AIR.

GUSTAVO
ANDRADE BARBOSA DE SOUZA
Acting Head of Demab