Brazil Overhauls Capital Requirements, Orders Shutdown of Irregular ‘Conta‑Bolsão’ Accounts

Overview

• In rules published Nov. 3, the Central Bank and CMN require compulsory closure of deposit and payment accounts used to move third‑party funds without legal backing, targeting the so‑called contas‑bolsão.
• Institutional checks must rely on their own criteria using public and private data, with documentation on forced closures kept available to the Central Bank for at least ten years.
• The compulsory‑closure regime is slated to begin on Dec. 1, 2025, according to Central Bank communications, with some reports citing Jan. 1, 2026.
• A new activity‑based methodology for minimum capital takes effect immediately with a transition: legacy floors through Jun. 30, 2026, then adding 25% by Dec. 31, 2026, 50% by Jun. 30, 2027, and 75% by Dec. 31, 2027, reaching full implementation on Jan. 1, 2028.
• The Central Bank estimates roughly 500 non‑bank institutions will be materially affected, lifting aggregate required capital from about R$5.2 billion to R$9.1 billion, with payment institutions’ floors rising to R$9.2 million–R$32.8 million; banks’ groups back the measures as safeguards, while fintech associations say the capital levels are higher than expected.