On February 13, the Central Bank of Brazil (BCB) published the Public Consultation n. 117/25 (ECP 117/25), which proposes the issuance of a joint resolution with the National Monetary Council (CMN), to address rules on the denomination of institutions authorized to operate by the agency.

The proposal aims to ensure that institutions authorized to perform a certain activity regulated by the BCB use, in their denominations, exclusively expressions that effectively refer to the activity for which they were authorized.

The proposed joint resolution prohibits the use of a term that refers to an activity for which the institution is not authorized to operate or that suggests that it is a different type of institution from the one that was authorized. The prohibition even extends to terms in other languages.

The concept of denomination established by the resolution is broad. It covers the corporate name, trade name, trademark and internet domain of the authorized institution.

However, according to the proposal, other institutions of the same prudential conglomerate will be allowed to use, in their identification to the public, terms that refer to:

  • their activity;
  • their authorized modality; or
  • the name of one of the institutions that comprise it.

Also according to the proposal, entities authorized to operate by the BCB will be prohibited from signing contracts or engaging in operational partnerships with unauthorized entities that use terms related to activities regulated by the agency.

Institutions that do not comply with the new rules will have a period of 180 days, from the entry into force of the joint resolution, to submit an adequacy plan to the BCB. This plan must specify each company’s individual deadline for adapting to the proposed standards.

Next steps

Those interested in participating in the consultation can submit subsidies until May 31 of this year. The proposed normative act is available on the BCB's website and on the Participa + Brasil Portal. Interested parties can send suggestions and comments through the Participa + Brasil Portal or the following e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it..