TITLE: Brazil's Securities Commission and Central Bank Strengthen Credit Information Cooperation
BODY:
On April 13, 2026, the Comissão de Valores Mobiliários (CVM) and Banco Central do Brasil (BCB) signed a Technical Cooperation Agreement to enhance and expand the exchange of information on credit operations within existing legal and regulatory frameworks. The agreement builds on institutional collaboration between the two authorities that has existed for several years.
The initiative aims to improve monitoring of the credit market within Brazil's National Financial System, strengthening supervision and supporting the formulation of public policies directed at financial stability. The agreement consolidates and expands existing practices, particularly regarding Credit Rights Investment Funds (Fundos de Investimento em Direitos Creditórios, or FIDCs), which have submitted credit operation information to the Credit Information System (Sistema de Informações de Créditos, or SCR) since 2012 under CVM regulation. The new cooperation will standardise, improve quality, and expand data sharing to include information from other CVM-regulated entities, such as securitisation companies.
The expanded and refined data repository will provide a more comprehensive and integrated view of indebtedness among individuals and legal entities, strengthening the analytical capacity of both authorities in identifying, monitoring, and assessing credit risks. This enhanced information flow will support macroprudential analysis and decisions made by both authorities within their respective legal competencies, promoting financial system stability and proper functioning of Brazil's financial and capital markets.
For securitisation companies and investment funds, improved information flows represent significant gains in credit analysis by enabling access to more complete debtor data, supporting safer decision-making and risk mitigation. For the broader financial market, the initiative is expected to reduce information asymmetries and promote more appropriate credit risk pricing, with potential positive effects on borrowing costs for end-users.
REFERENCES:
Comissão de Valores Mobiliários (CVM). "CVM e Banco Central fortalecem cooperação para aprimoramento das informações de crédito no país." April 13, 2026. Available at: https://www.gov.br/cvm/