Resolution CMN No. 2723 — Establishes norms, conditions and procedures for the establishment of branches abroad and for direct or indirect equity participation in Brazil and abroad by financial institutions and other institutions authorized by the Central Bank of Brazil

Resolution CMN No. 2723 establishes the requirements and procedures for financial institutions authorized by the Central Bank of Brazil to open branches abroad and to hold direct or indirect equity interests in entities in Brazil and overseas. Institutions must obtain prior authorization, operate for at least six years, meet specific capital and net worth thresholds, and submit feasibility studies. The resolution mandates consolidated financial reporting for controlled entities, prohibits reciprocal equity holdings, restricts transactions with foreign companies under common control, and sets compliance deadlines for existing non-compliant structures.

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RESOLUTION NO. 2723

Establishes norms, conditions and procedures for the establishment of branches abroad and for direct or indirect equity participation in Brazil and abroad by financial institutions and other institutions authorized to operate by the Central Bank of Brazil.

THE CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the MONETARY NATIONAL COUNCIL, in a session held on May 31, 2000, based on Articles 4, items VIII, XI, XII and XIII, 10, paragraph 1, and 30 of the aforementioned Law and Law No. 4,728 of July 14, 1965, and considering the provisions of Article 22 of Law No. 6,385 of December 7, 1976, with the changes introduced by Article 14 of Law No. 9,447 of March 14, 1997,

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Lineage: Superseded

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Timeline

Amended 1 time · last 2022-11-25

2022-11-25BCBCMN Resolution No. 5043 — Regulates Shareholdings and Installation of Foreign Branches by Financial Institutionssupersedes

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works