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nid 94587
Aug 14, 2026
rghosh@vixio.com
Brazil
BCB - Standards
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1490 charsBrazil's Central Bank Issues Normative Instruction Clarifying Compulsory Reserve Requirements
On August 13, 2026, the Central Bank of Brazil (BCB) issued Normative Instruction BCB No. 768, which amends three prior normative instructions to provide clarifications regarding the deduction of compulsory reserve requirements on sight deposits and time deposits.
The instruction modifies Normative Instruction BCB No. 715 (issued March 6, 2026), Normative Instruction BCB No. 555 (issued December 2, 2024), and Normative Instruction BCB No. 557 (issued December 2, 2024). These amendments address the implementation of BCB Resolution No. 551 (issued March 3, 2026), which established the framework for compulsory reserve deductions applicable to financial institutions operating in Brazil.
The normative instruction provides guidance on how financial institutions should calculate and apply deductions to their compulsory reserve obligations, distinguishing between sight deposits (demand deposits) and time deposits (fixed-term deposits). This clarification ensures consistent application of reserve requirements across the Brazilian financial system and reduces ambiguity regarding compliance obligations for deposit-taking institutions.
The full text of Normative Instruction BCB No. 768 is available on the BCB's official website at https://www.bcb.gov.br/estabilidadefinanceira/especialnor. Financial institutions subject to compulsory reserve requirements should review the amended instructions to ensure their reserve calculations and reporting comply with the updated guidance.
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1036 charsBrazil's Central Bank Issues Normative Instruction No. 768 Clarifying Compulsory Reserve Requirements
On August 13, 2026, the Central Bank of Brazil (BCB) issued Normative Instruction BCB No. 768, amending BCB Normative Instruction No. 715 , BCB Normative Instruction No. 555 , and BCB Normative Instruction No. 557 , to provide clarifications regarding the deduction of the compulsory reserve requirement on demand deposits and time deposits, to implement BCB Resolution No. 551 .
Key provisions include:
clarifies that FGC contributions advanced through May 2026 may be divided into installments, while advances relating to 2027 and 2028 must be made in single installments;
establishes new reporting codes and calculation periods for the deductions;
specifies how the deductible amounts are progressively reduced over time, generally by 1/60 or 1/12 of the originally reported amount, depending on the applicable contribution; and
updates the formulas used to calculate compulsory reserve requirements so that the FGC deduction is expressly taken into account.
The Normative Instruction takes effect immediately upon publication.