Normative Instruction BCB No. 697 of December 30, 2025

Resolution No. 222

NORMATIVE INSTRUCTION BCB NO. 697, OF DECEMBER 30, 2025

Amends
Normative Instruction BCB No. 296, of August 22, 2022, which consolidates the instructions for registering operations in the Credit Operations Registration System with the Public Sector (Cadip) and amends the Manual of the Credit Operations Registration System with the Public Sector (Cadip Manual).

The Head of the Financial System Monitoring Department - Desig, acting in his capacity, under the authority conferred by Article 23, item I, letter “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, based on Article 85, item IV, of said Regulations, and in view of the provisions of CMN Resolutions Nos. 4,995, of March 24, 2022, and 5,271, of December 18, 2025, and BCB Resolution No. 196, of March 9, 2022,

R E S O L V E :

Art.
1º Article 6 of Normative Instruction BCB No. 296, of August 22, 2022, published in the Official Gazette of the Union on August 23, 2022, Section 1, pp. 109/110, shall enter into force with the following wording:

“Art.
6º ...................................................................................................................................

.................................................................................................................................................

VIII - NP modality – operations referred to in CMN Resolution No. 4,995, 2022, Article 8, § 1 – Without Union guarantee, included within the scope of the New PAC;

IX

• 3P modality – operations referred to in CMN Resolution No. 4,995, 2022,
  Article 8, § 1 – With Union guarantee, relating to contracts within the scope of Public-Private Partnerships (PPPs); or

X

• CO modality - Brazilian Post and Telegraph Company - with Union Guarantee”. (NR)

Art. 2º A new version of the Credit Operations Registration System Manual with the Public Sector (Cadip Manual) shall enter into force, starting from December 2025, available on the Central Bank of Brazil’s internet page, at the electronic address https://www.bcb.gov.br/estabilidadefinanceira/setorpublicolimitecredito, with the following modification:

I - In Chapter 6, item 6.4 – Registration of credit operations: inclusion of the CO modality - Brazilian Post and Telegraph Company - with Union guarantee.

Art. 3º This Normative Instruction enters into force on the date of its publication.

ANDRÉ
LUIZ CACCAVO MIGUEL

NOTE

The Credit Operations Registration System with the Public Sector - Cadip, regulated by BCB Resolution No. 196, of March 9, 2022, is an instrument for collecting registration information and registering delinquency, with the aim of allowing the monitoring of the annual global limits of credit operations carried out by financial institutions and other institutions authorized to operate by the Central Bank of Brazil with the public sector, as referred to in CMN Resolution No. 4,995, of March 24, 2022, and Normative Instruction BCB - IN BCB No. 296, of August 22, 2022, presents, in a concise manner, the procedures necessary for registering these operations in the Cadip.

2. CMN Resolution No. 5,271, of December 18, 2025, amended CMN Resolution No. 4,995, of 2022, creating a new credit limit for the Brazilian Post and Telegraph Company – Correios. In light of this, it is necessary to create a new modality in the Cadip to monitor this new limit.

3. This IN BCB amends IN BCB No. 296, of 2022, and the Cadip Manual to include the new CO modality - Brazilian Post and Telegraph Company - with Union guarantee, with the objective of adapting the Cadip to the new limit created.

4. Decree No. 10,411, of June 30, 2020, regulates the conduct of regulatory impact analysis - AIR as a prerequisite for the issuance of normative acts. However, in its Article 4, it establishes the hypotheses for exemption from conducting an AIR. This Normative Instruction falls under the hypothesis of item II - normative act intended to regulate rights or obligations defined in a hierarchically superior norm that does not allow, technically or legally, different regulatory alternatives.

5. The classification of this IN BCB under item II of Article 4 of Decree No. 10,411, of 2020, is justified because the proposed changes aim to adapt the Cadip to the creation of a new limit resulting from the issuance of CMN Resolution No. 5,271, of 2025. Furthermore, since the Cadip is the system used to monitor the credit limit with the public sector, it is understood that creating a new modality in the Cadip is the appropriate way to receive information regarding operations related to the new limit, as it is the simplest and lowest-cost implementation method, both for the institutions and for this Central Bank.

6. Thus, based on the provisions of paragraphs 4 and 5, it is understood that the issuance of this Normative Instruction is exempt from conducting a regulatory impact analysis.

ANDRÉ LUIZ CACCAVO MIGUEL
Head of the Financial System Monitoring Department, acting