Resolution CMN No. 5000 — Establishes the constitution and operation of real estate credit companies

RESOLUTION CMN NO.
5,000, OF MARCH 24, 2022

Establishes the constitution and operation of real estate credit companies.

The Central Bank of Brazil, in accordance with Art. 9 of Law No. 4,595, of December 31, 1964, makes public that the National Monetary Council, in a session held on March 24, 2022, based on Arts. 4, items VI and VIII, of the aforementioned Law, and 20, §§ 1 and 4, of Law No. 4,864, of November 29, 1965,

R E S O L V E D:

CHAPTER I
OF THE OBJECT AND SCOPE OF APPLICATION

Art. 1. This Resolution establishes the constitution and operation of real estate credit companies.

CHAPTER II
OF CONSTITUTION AND AUTHORIZATION FOR OPERATION

Art. 2. Real estate credit companies are financial institutions that are part of the National Financial System, specialized in real estate credit operations, and must be established in the form of a joint-stock company, in accordance with Law No. 6,404, of December 15, 1976.

Sole Paragraph. In the name of the institutions mentioned in the caput, the expression "real estate credit" must appear, and the use of a name or trade name containing terms characteristic of other institutions of the National Financial System or similar expressions in the vernacular or in a foreign language is prohibited.

Art. 3. The operation of real estate credit companies depends on authorization from the Central Bank of Brazil.

CHAPTER III
OF MINIMUM CAPITAL AND NET EQUITY LIMITS

Art. 4. Real estate credit companies must permanently observe the minimum limit of paid-up capital and net equity of R$7,000,000.00 (seven million reais).

Art. 4. (Revoked by Joint Resolution No. 14, of 3/11/2025.)

CHAPTER IV
OF CORPORATE OBJECT

Art. 5. Real estate credit companies have the following corporate object:

I - granting financing for the acquisition, construction, production, renovation, or expansion of residential real estate, including land;

II - granting financing for the acquisition of materials for the construction, expansion, or renovation of residential real estate on land owned by the financing applicant or whose possession is held by them;

III - the transfer of resources for financing the operations referred to in item I;

IV - granting credit to companies that promote residential real estate construction projects; and

V - providing guarantees.

Art. 6. Real estate credit companies may:

I - act as fiduciary agents for real estate credit operations with mortgage guarantee, observing specific regulation; and

II - operate in the real estate financing modalities admitted for the purpose of meeting the direction of resources captured in savings deposits by institutions that are part of the Brazilian Savings and Loan System (SBPE).

CHAPTER V
OF SOURCES OF RESOURCES

Art. 7. Real estate credit companies may employ in their activities, in addition to their own resources, those derived from:

I - issuance of:

a) mortgage letters;

b) financial letters;

c) real estate credit letters;

d) mortgage bonds;

e) real estate credit bonds; and

f) certificates of banking credit bonds;

II - savings deposits;

III - interbank deposits;

IV - transfers and refinancing contracted in the country, including those from social funds and programs; and

V - loans and financing contracted abroad, including those from transfers and refinancing of external resources.

CHAPTER VI
FINAL PROVISIONS

Art. 8. Real estate credit companies may enter into agreements with institutions authorized to operate by the Central Bank of Brazil for the purpose of capturing savings deposits.

Art. 9. The Central Bank of Brazil will adopt, in accordance with its legal competencies, the measures necessary for the execution of the provisions of this Resolution.

Art. 10. Resolution No. 2,735, of June 28, 2000, is hereby revoked.

Art. 11. This Resolution enters into force on May 2, 2022.

Roberto de
Oliveira Campos Neto

President of the Central Bank of Brazil