Resolution BCB No. 436 — Classification of Single Institutions and Prudential Conglomerates into Type 1, Type 2, or Type 3 and Segmentation of Type 3 Institutions and Conglomerates

RESOLUTION BCB NO. 436, OF NOVEMBER 28, 2024

Classifies as Type 1, Type 2, or Type 3 the single institutions authorized to operate by the Central Bank of Brazil and the prudential conglomerates led by these institutions, and establishes the segmentation of institutions and conglomerates classified as Type 3.

Classifies as Type 1, Type 2, or Type 3 the single financial institutions and other single institutions authorized to operate by the Central Bank of Brazil, as well as the prudential conglomerates led by these institutions, and establishes the segmentation of institutions and conglomerates classified as Type 3. (Wording given by Resolution BCB No. 580, of 7/1/2026.)

The Collegiate Board of the Central Bank of Brazil, in a session held on November 28, 2024, based on arts. 9, caput, item II, and 15 of Law No. 12,865, of October 9, 2013, and 9-A of Law No. 4,728, of July 14, 1965, and taking into account the provisions of Resolution No. 4,282, of November 4, 2013, and CMN Resolution No. 5,105, of September 28, 2023,

R E S O L V E S:

CHAPTER I
OBJECT AND SCOPE OF APPLICATION

Art. 1. This Resolution classifies as Type 1, Type 2, or Type 3 the single financial institutions and other single institutions authorized to operate by the Central Bank of Brazil, as well as the prudential conglomerates led by these institutions, and establishes the segmentation of institutions and conglomerates classified as Type 3 for the purpose of applying proportional prudential regulation. (Wording given by Resolution BCB No. 580, of 7/1/2026.)

§ 1. Proportionality in the application of prudential regulation is established:

I - for Type 1, in accordance with Resolution No. 4,553, of January 30, 2017, of the Monetary Council;

II - for Type 2, in accordance with Resolution BCB No. 198, of March 11, 2022; and

III - for Type 3, as provided in art. 5.

§ 2. This Resolution does not apply to consortium administrators.

CHAPTER II
CLASSIFICATION BY TYPE AND RISK-PROPORTIONAL REGULATION

Art. 2. The institutions mentioned in art. 1 must be classified into one of the following types for the purposes of prudential regulation under the competence of the Central Bank of Brazil:

I - Type 1:

a) single institution authorized to operate by the Central Bank of Brazil, except: (Wording given by Resolution BCB No. 580, of 7/1/2026.)

1. payment institution;

2. securities brokerage company;

3. securities distribution company; and (Wording given by Resolution BCB No. 580, of 7/1/2026.)

4. foreign exchange brokerage company; and

5. virtual asset services provider company; and (Included by Resolution BCB No. 580, of 7/1/2026.)

b) prudential conglomerate led by an institution referred to in item “a”;

II - Type 2:

a) single payment institution; and

b) prudential conglomerate led by a payment institution and constituted exclusively by:

1. payment institutions authorized to operate by the Central Bank of Brazil;

2. payment institutions not authorized to operate by the Central Bank of Brazil;

3. entities that carry out the acquisition of credit operations, including real estate, or of credit rights, such as factoring companies, securitization companies, and special purpose companies;

4. other legal entities whose corporate purpose is exclusively the equity participation in the entities mentioned in items 1 to 3; or

5. investment funds; and

III - Type 3:

a) securities brokerage company, securities distribution company, foreign exchange brokerage company, and virtual asset services provider company; (Wording given by Resolution BCB No. 580, of 7/1/2026.)

b) prudential conglomerate led by an institution referred to in item “a”; and

c) prudential conglomerate led by a payment institution not mentioned in item II, item “b”.

§ 1. For the purposes of this Resolution, the leading institution of a prudential conglomerate is defined in accordance with the regulations dealing with the criteria for preparing the consolidated accounting documents of the prudential conglomerate.

§ 2. It is the responsibility of the leading institution to comply with the obligations attributed to the respective conglomerate provided for in this Resolution.

CHAPTER III
TRANSITION BETWEEN TYPES 2 AND 3

Art. 3. A period of three months will be granted for compliance with the prudential framework applicable to Type 3 in the following cases:

I - the single payment institution constitutes a conglomerate not eligible for Type 2; and

II - the Type 2 conglomerate ceases to meet the criteria established in art. 2, caput, item II.

Art. 4. A Type 3 conglomerate that undergoes a change in its composition so that it begins to meet the criteria established for classification as Type 2 will have a period of three months to comply with the prudential framework applicable to it.

CHAPTER IV
SEGMENTS

Art. 5. The Type 3 institution mentioned in art. 2, caput, item III, must fall into one of the following segments:

I - Segment 2 – S2;

II - Segment 3 – S3;

III - Segment 4 – S4; or

IV - Segment 5 – S5.

§ 1. S2 is composed of institutions with a size equal to or greater than 1% (one percent) of the Gross Domestic Product – GDP of Brazil.

§ 2. S3 is composed of institutions with a size less than 1% (one percent) and equal to or greater than 0.1% (one tenth of one percent) of GDP.

§ 3. S4 is composed of institutions with a size less than 0.1% (one tenth of one percent) of GDP.

§ 4. S5 is composed of institutions with a size less than 0.1% (one tenth of one percent) of GDP that have opted for the use of a simplified optional methodology for calculating the minimum requirement for Simplified Reference Equity – PRS5, observing the provisions of § 6.

§ 5. For institutions part of a prudential conglomerate, in accordance with the Accounting Standard of Institutions Regulated by the Central Bank of Brazil – Cosif, the classification referred to in this article must be carried out based on consolidated information.

§ 6. A Type 3 conglomerate cannot be classified in S5 if it is integrated by a multiple bank, commercial bank, investment bank, foreign exchange bank, federal savings bank, or development agency.

§ 7. For a single Type 3 institution constituted after the entry into force of this Resolution, the initial classification must be calculated considering the information contained in the business plan or the executive summary of the business plan submitted to the Central Bank of Brazil.

§ 8. For a Type 3 prudential conglomerate constituted after the entry into force of this Resolution, the initial classification must be calculated considering the size of the institutions, entities, and funds that are part of the conglomerate, based on:

I - accounting information, in the case of operating institutions; and

II - information contained in the business plan or the executive summary of the business plan submitted to the Central Bank of Brazil, in the case of an institution that requires prior authorization to operate.

CHAPTER V
DEFINITIONS

Art. 6. For the purposes of this Resolution, size is defined based on the ratio between the value of the Total Exposure of the single institution or prudential conglomerate and the value of the GDP of Brazil. (Wording given, from 7/1/2026, by Resolution BCB No. 478, of 5/30/2025.)

§ 1. For the purposes of the caput, the following must be considered:

I - Total Exposure, calculated in accordance with Resolution BCB No. 478, of May 30, 2025; and (Wording given, from 7/1/2026, by Resolution BCB No. 478, of 5/30/2025.)

II - GDP of Brazil at market prices and current values published by the Brazilian Institute of Geography and Statistics – IBGE, accumulated for a period of four consecutive quarters ending on each base date of calculation mentioned in § 2.

§ 2. For the purposes of § 1, the respective values related to the base dates of June 30 and December 31 of each year must be considered, calculated within ninety days after the base date to which they refer, with no subsequent revision permitted.

§ 3. An institution not subject to the calculation of Total Exposure must substitute, for the purpose of defining its size, the value of Total Exposure with the value of Total Assets calculated in accordance with the criteria established in Cosif. (Included, from 7/1/2026, by Resolution BCB No. 478, of 5/30/2025.)

CHAPTER VI
CHANGE OF CLASSIFICATION

Art. 7. The change of classification referred to in art. 5 must occur:

I - for S2, when the institution meets the provisions of art. 5, § 1, for three consecutive semesters, if coming from S3, S4, or S5;

II - for S3, when the institution meets the provisions of art. 5, § 2:

a) for three consecutive semesters, if coming from S4 or S5;

b) for five consecutive semesters, if coming from S2;

III - for S4:

a) when the institution meets the provisions of art. 5, § 3, for five consecutive semesters, if coming from S2 or S3;

b) immediately, upon ceasing to use the simplified optional methodology for calculating the minimum requirements for Reference Equity, Tier 1, and Core Capital; and

IV - for S5, immediately, when the institution meets the requirements mentioned in art. 5, § 4.

Art. 8. The Central Bank of Brazil may determine a change in the classification of the institution:

I - before the periods mentioned in art. 7 have elapsed, provided that its discretionary assessment indicates:

a) absence of perspective of returning to compliance with the requirements for classification in the segment of origin; and

b) ability to comply with the prudential regulation applicable to the segment of destination;

II - between S2, S3, S4, and S5, based on supervisory actions that demonstrate the better alignment of the activities developed by the institution and the prudential regulation applicable to the segment of destination; and

III - in the case of change of corporate purpose, creation or cancellation of operational portfolio, merger, spin-off, incorporation, or changes in control, as well as significant change of the business model at any time, considering the perspectives for the size of the institution.

§ 1. The date of the change of classification referred to in items II and III of the caput must be fixed by the Central Bank of Brazil according to the particularities of each case.

§ 2. An institution whose classification is changed from S5 to other segments, in accordance with item II of the caput, may only return to being classified in S5 by determination of the Central Bank of Brazil.

Art. 9. Changes in classification take effect after the end of the semester following the date of the respective change.

Sole paragraph. The provisions of the caput do not apply to the cases provided for in art. 7, caput, item III, item “b”, and item IV, the changes in which will take effect immediately.

CHAPTER VII
TRANSPARENCY

Art. 10. The Central Bank of Brazil will publish, at least semi-annually, information regarding the classification of the institutions covered by this Resolution.

CHAPTER VIII
FINAL PROVISIONS

Art. 11. References to Resolution BCB No. 197, of March 11, 2022, shall be understood as references to this Resolution.

Art. 12. Resolution BCB No. 197, of March 11, 2022, published in the Federal Register on March 14, 2022, is hereby repealed.

Art. 13. This Resolution enters into force on January 1, 2025.

Otávio Ribeiro Damaso
Regulation Director