Resolution CMN No. 5215 — Amends Resolution No. 4,410 of May 28, 2015, regarding Real Estate Credit Letters (LCI), and Resolution CMN No. 5,006 of March 24, 2022, regarding Agribusiness Credit Letters (LCA)

RESOLUTION CMN NO. 5,215, OF MAY 22, 2025

Amends Resolution No. 4,410, of May 28, 2015, which provides for Real Estate Credit Letters – LCI, and Resolution CMN No. 5,006, of March 24, 2022, which provides for Agribusiness Credit Letters – LCA.

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 May 22, 2025, based on Arts. 4, caput, items VI and VIII, of the aforementioned Law, 17 of Law No. 10,931, of August 2, 2004, and 49 of Law No. 11,076, of December 30, 2004,

R E S O L V E S:

Art. 1. Resolution No. 4,410, of May 28, 2015, published in the Official Gazette of the Union on May 29, 2015, shall enter into force with the following alterations:

“Art. 4. ...................................................................................................................................

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II - six months, in other cases.

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§ 3. The prohibition mentioned in item I of § 2 applies also to buybacks carried out by institutions linked to the LCI-issuing institution.

§ 3-A. The prohibition on LCI buyback referred to in item I of § 2 and § 3 is exempted for operations carried out with the objective of intermediation.

§ 3-B. In the event of LCI renewal, the new maturity term of the instrument must be equal to or greater than the minimum terms established in the caput, considering the renewal date as the start date for counting the new maturity term.

§ 3-C. The provisions of §§ 2, 3, and 3-A apply to the LCI subject to renewal.” (NR)

“Art. 4-B. The updated nominal value of LCIs issued may not exceed the gross book value of the real estate credits backing them, calculated according to the criteria established in the Accounting Standard of Institutions Regulated by the Central Bank of Brazil – Cosif, without deduction for loss provisions and without addition of amounts to be released.” (NR)

“Art. 4-C. The LCI cannot be backed by real estate credits written off as a loss.” (NR)

Art. 2. Resolution CMN No. 5,006, of March 24, 2022, published in the Official Gazette of the Union on March 28, 2022, shall enter into force with the following alterations:

“Art. 2. ...................................................................................................................................

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II - six months, when not updated by a price index.

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§ 2. The prohibition mentioned in item I of § 1 also applies to buybacks carried out by institutions linked to the LCA-issuing institution.

§ 3. The prohibition on LCA buyback referred to in item I of § 1 and § 2 is exempted for operations carried out with the objective of intermediation.

§ 4. In the event of LCA renewal, the new maturity term of the instrument must be equal to or greater than the minimum terms established in the caput, considering the renewal date as the start date for counting the new maturity term.

§ 5. The provisions of §§ 1, 2, and 3 apply to the LCA subject to renewal.” (NR)

“Art. 2-C. The updated nominal value of LCAs issued may not exceed the gross book value of the credit rights linked to them, calculated according to the criteria established in the Accounting Standard of Institutions Regulated by the Central Bank of Brazil – Cosif, without deduction for loss provisions and without addition of amounts to be released.” (NR)

“Art. 2-D. The LCA cannot be linked to credit rights written off as a loss.” (NR)

Art. 3. This Resolution enters into force:

I - on the date of its publication, in the parts that alter:

a) item II of the caput of Art. 4 of Resolution No. 4,410, of May 28, 2015; and

b) item II of the caput of Art. 2 of Resolution CMN No. 5,006, of March 24, 2022; and

II - on August 1, 2025, regarding the remaining provisions.

GABRIEL MURICCA GALÍPOLO

President of the Central Bank of Brazil