authorized to operate in the foreign exchange market; or This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 IV - cross-currency trade with another institution authorized to operate in the foreign exchange market or with an institution from abroad subject to financial regulation and supervision in its home country, as provided for in this Resolution. § 1 The regulatory provisions relating to operations with gold- foreign exchange instrument are the same as those relating to the purchase and sale of foreign currency, including those regarding the composition and limits of exchange positions and the possibility of cross - currency trade operations. § 2 Once incorporated into the institution's foreign exchange position, gold can only be traded with another institution authorized to operate in the foreign exchange market, with an institution from abroad subject to regulation and financial supervision in its home country or with the Banco Central do Brasil, subject to the same conditions established for foreign currency trading. § 3 The operations referred to in this Chapter must be registered as their own currency in the Sistema Câmbio, taking gram as a unit. TITLE VII ACCOUNTS OF NON-RESIDENTS IN BRL SOLE CHAPTER Art. 67. Institutions authorized to operate in the foreign exchange market may open, maintain, and close deposit accounts and payment accounts in BRL held by non-residents under the same conditions under which they may open and maintain such accounts held by residents, subject to the provisions of this Title. Sole paragraph. Transactions in prepaid payment account referred to in this Title are limited to R$10,000.00 (ten thousand BRL ), except for transactions for the purchase or sale of foreign currency. Art. 68. T ransactions involving resources of interest to third-party in an account referred to in this Title is allowed if the account is held by an institution domiciled or headquartered abroad subject to regulation and financial supervision in its home country and maintained in a bank authorized to operate in the foreign exchange market, observing that, in this case, the institution holding the account: I - may request or dismiss, according to its assessment, information and supporting documents, considering the customer's assessment and the characteristics of the operation; and II - must keep the information and supporting documents that have been collected at the disposal of the Banco Central do Brasil and retain them for a minimum period of ten years, counting from the end of the year in which the transaction occurs. III - Revoked. § 1 The transaction referred to in the main section of this article of an value greater than R$10,000.00 (ten thousand BRL ) must have as consideration credit or debit to the This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 deposit or payment account maintained in financial institutions and other institutions authorized to operate by the Banco Central do Brasil or in payment institutions that, due to their adhesion to Pix, integrate the SPB, observing that said transaction: I - can also be carried out by means of a check issued by the payer, in the form of its regulations; II - is not allowed in return for credit to the postpaid payment account. § 2 The transaction referred to in the main section of this article of up to R$10,000.00 (ten thousand BRL ) may be carried out with any means of payment in use in the financial market, including cash, subject to item II of § 1. Art. 68-A. In the case of transaction involving resources of interest to third- party in an account referred to in this Title, the institution that holds the account must obtain from the customer information about the purpose of the transaction when required in Annex II, and must, for this reason, present or make available, in a free format that allows clear understanding by the customer, the codes contained in Annexes III, IV or V, as applicable. § 1 The information contained in Annex VI must also be provided, with the customer indication, about the payer or receiver abroad and her link with the customer. § 2 At the customer’s request: I - the use of the codes list contained in Annex IV is permitted for transactions of up to R$250,000.00 (two hundred and fifty thousand BRL ), subject to the agreement of the institution that holds the account; II - the institution that holds the account must adjust information already provided by the customer regarding the transaction. § 3 The holding institutions will provide guidance and technical support, including via virtual means,


BCB Resolution 277/2022 — Foreign Exchange Market — English Version

customer information about the purpose of the transaction when required in Annex II, and must, for this reason, present or make available, in a free format that allows clear understanding by the customer, the codes contained in Annexes III, IV or V, as applicable. § 1 The information contained in Annex VI must also be provided, with the customer indication, about the payer or receiver abroad and her link with the customer. § 2 At the customer’s request: I - the use of the codes list contained in Annex IV is permitted for transactions of up to R$250,000.00 (two hundred and fifty thousand BRL ), subject to the agreement of the institution that holds the account; II - the institution that holds the account must adjust information already provided by the customer regarding the transaction. § 3 The holding institutions will provide guidance and technical support, including via virtual means, to customers who require support for the correct classification of the purpose of the transaction. TITLE VIII FOREIGN CURRENCY ACCOUNTS IN BRAZIL SOLE CHAPTER Art. 69. Foreign currency deposit accounts in Brazil may be opened, maintained, and closed by banking institutions authorized to operate in the foreign exchange market. § 1 Resources held in foreign currency deposit accounts may be freely applied in the international market, except for any restriction established in special legislation or by a regulatory body. § 2 The authorizations granted until the date of entry into force of this Resolution for the opening and maintenance of accounts in foreign currency are maintained. Art. 70. Foreign currency deposit accounts may be owned by: This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 I - travel agency or tourist service provider, with the account restricted to receipts and payments arising from its performance in emissive or receptive tourism; II - embassies, foreign legations and international organizations recognized by the Brazilian Government, having the account free transactions; III - company that acts in the provision of postal services, according to art icle 2 of Law No. 6,538, of 1978, with the account restricted to the course of international postal voucher systems with prohibited transactions in cash; IV - issuers of credit cards for international use, with the account being restricted to making payments abroad for the use in duty -free stores and abroad of cards issued in Brazil, with prohibited transactions in cash; V - foreigner temporarily in Brazil and Brazilian non-resident, observing that their credits are restricted to resources from abroad and that the debits are subject to foreign exchange operation in the case of transfer in Brazil to resident; VI - entities of the direct and indirect administration of the Union, the States, the Municipalities and the Federal District, and the account must be linked to an external credit operation (designated accounts) granted by international organizations and foreign government agencies and that, in the case of Union accounts, observed conditions established by the Secretariat of the National Treasury; VII - companies in charge of the implementation and development of projects in the energy sector; VIII - insurance companies, reinsurers and reinsurance brokers; IX - non-resident carriers; X - institutions authorized to operate in the foreign exchange market; and XI - companies holding rights to explore and produce oil and natural gas. Art. 71. Companies responsible for the implementation and development in Brazil of projects related to the exploration, production, exploration, processing and transportation of oil and natural gas and with the generation and transmission of electricity may hold the accounts referred to in this Title, provided that: I - for the opening of accounts, the holder must have a public act of release (concession, authorization or permission) of the National Electric Energy Agency (ANEEL) or the National Agency of Petroleum, Natural Gas and Biofuels (ANP) or, even, of a state body responsible for the delegation, when applicable; II - these accounts may only have in deposit funds in foreign currencies equivalent to the BRL received because of the activities provided for in the main section of this article and intended for the settlement of commitments and obligations abroad provided for in the regulations of the Banco Central do Brasil; This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 III - withdrawals on these accounts can only be made for remittance abroad in payment of obligations that integrate the projects provided for in the main section of this article and, in the case of a consortium, to a foreign currency account held by a company of the same consortium, and


Biofuels (ANP) or, even, of a state body responsible for the delegation, when applicable; II - these accounts may only have in deposit funds in foreign currencies equivalent to the BRL received because of the activities provided for in the main section of this article and intended for the settlement of commitments and obligations abroad provided for in the regulations of the Banco Central do Brasil; This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 III - withdrawals on these accounts can only be made for remittance abroad in payment of obligations that integrate the projects provided for in the main section of this article and, in the case of a consortium, to a foreign currency account held by a company of the same consortium, and the current exchange legislation must be observed; IV - in the case of a consortium, all participating companies may be holders of accounts in foreign currency if they will receive revenues arising from the activities provided for in the main section of this article; V - for the opening of the account, the interested party must submit a statement from the Banco Central do Brasil that the company is covered by the provisions of this Resolution. § 1 The extinction of the effects of the public act of release referred to in item I implies the loss of the ability to maintain the account in foreign currency. § 2 In the event of § 1, the closure of the account in foreign currency must be provided and the conversion into BRL of the balance that may exist within thirty days, by means of a foreign exchange operation, in accordance with the regulations in force. Art. 72. Insurance companies, local reinsurers, admitted reinsurers and reinsurance brokers may hold foreign currency accounts, provided that: I - the transaction in a foreign currency account held by an insurance company, a local reinsurer or an admitted reinsurer is restricted to: a) receipts and payments of premiums, indemnities, credit recoveries and other values provided for insurance, reinsurance, retrocession and co -insurance contracts, provided these contracts were entered into in foreign currency; b) income from the application of existing balances, subject to the regulations on the application of guaranteed resources; c) receipts in deposit of funds to maintain the minimum balance of the account, defined by the National Council of Private Insurance (CNSP), in the case of admitted reinsurer, observing that the withdrawal of funds destined to the maintenance of minimum ba lance can only be promoted after the release of the bond by the Superintendence of Private Insurance (Susep); II - the use of the foreign currency account held by a reinsurance broker is restricted to the transit of values related to premiums, indemnities and other values provided for in reinsurance contracts entered into in foreign currency, observing that the va lues in foreign currency referring to the remuneration of the reinsurance broker must be immediately converted into BRL, upon contracting and settlement of the exchange; III - the values held therein may be freely converted into BRL , by contracting and settling a foreign exchange operation, in accordance with the regulations in force, with the exception of values related to the investments of the resources guaranteeing the technical provisions that have prohibited their conversion into BRL; This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 IV - foreign exchange operation is waived for transfer of funds between such accounts; V - the loss of authorization by Susep implies the loss of the ability to maintain the account in foreign currency, and its closure must be provided and the conversion into BRL of the balance that may exist within thirty days, by carrying out a foreign exchange operation, in accordance with the regulations. Art. 73. Non -resident carriers may be holders of a foreign currency deposit account, which may be fed with resources resulting from the conversion of national currency earned in Brazil because of their activities. Art. 74. In foreign exchange operations for the purpose of transferring abroad revenues earned in Brazil by non-resident carriers, it is allowed a transitional maintenance of estimated values for future use in the payment of expenses incurred in Brazil. § 1 Foreign exchange operations dealt with in the main section of this article are settled at the fully contracted value, and a payment order may be sent abroad for a value lower than that of the corresponding foreign exchange operation and the difference serves to pay the expenses incurred in Brazil by the non-


BRL of the balance that may exist within thirty days, by carrying out a foreign exchange operation, in accordance with the regulations. Art. 73. Non -resident carriers may be holders of a foreign currency deposit account, which may be fed with resources resulting from the conversion of national currency earned in Brazil because of their activities. Art. 74. In foreign exchange operations for the purpose of transferring abroad revenues earned in Brazil by non-resident carriers, it is allowed a transitional maintenance of estimated values for future use in the payment of expenses incurred in Brazil. § 1 Foreign exchange operations dealt with in the main section of this article are settled at the fully contracted value, and a payment order may be sent abroad for a value lower than that of the corresponding foreign exchange operation and the difference serves to pay the expenses incurred in Brazil by the non- resident carrier, and, when paying such expenses, the respective exchange transactions must be entered into in accordance with the regulations in force. § 2 For the purposes of calculating the values in foreign currency related to the expenses incurred in Brazil dealt with in § 1, at the discretion of the parties, any foreign exchange rate that is between the minimum and maximum rates available at Sisbacen may be used during the period related to the permanence of the transport vehicle in national territory. § 3 If the estimated value for the cost referred to in the main section of this article has been higher than that spent in Brazil, a new payment order must be sent abroad with the value not used in Brazil. Art. 75. Institutions authorized to operate in the foreign exchange market may hold foreign currency accounts, provided that the depository banks may: I - accept instruments in collection from banks abroad or banks in Brazil authorized to operate in the foreign exchange market; II - accept requests from their respective holders to: a) withdrawal or issuance of payment orders in foreign currency from abroad; b) make payments of bonds in Brazil in national currency; c) conversion into national currency. § 1 The operations referred to in items "b" and "c" of item II of the main section of this article must be preceded by the corresponding purchase of foreign currency by a bank authorized to operate in the foreign exchange market. This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 § 2 The revocation, cancellation or revocation of authorization to operate in the foreign exchange market implies the closure of the account in foreign currency, and the account holder must sell the institution authorized to operate in the foreign exchange market the existing balance, within the period established by the Banco Central do Brasil. Art. 76. Companies holding oil and natural gas exploration and production rights may hold a foreign currency deposit account intended exclusively for the deposit of provisioning funds in guarantee of expenses with the decommissioning of production faciliti es in oil and natural gas fields, according to the regulation on provisioning funds issued by the ANP 12, and it should be noted that: I - the transactions are limited to the deposit of the provisioning funds referred to in the main section of this article and to the credits and debits arising from its application, as provided for in regulations issued by the ANP, observing that other transactions depend on prior consent of the ANP; II - the conversion into BRL of the values held therein is allowed, by contracting a foreign exchange operation, in accordance with the regulations in force; III - the contracting of a foreign exchange operation for the transfer of funds in foreign currency is waived; IV - its closure must be provided and the conversion to BRL or the transfer of the existing balance must be promoted within five business days after the maintaining bank receives notification from the ANP. TITLE VIII-A PROVISION OF VIRTUAL ASSET SERVICES IN THE FOREIGN EXCHANGE MARKET SOLE CHAPTER Article 76-A. The provision of virtual asset services that comprises the following activities or operations is included in the foreign exchange market: I - international payment or transfer with virtual assets; II - virtual asset transfer from or to a customer of a virtual asset service provider to fulfill an obligation arising from the international use of a card or another electronic payment instrument; III - virtual asset transfer from or to a self -custodied wallet that does not involve payment or international transfer with virtual assets; and IV - purchase, sale, or exchange of virtual assets referenced in fiat currency. § 1 For the purposes of this Resolution:


the conversion to BRL or the transfer of the existing balance must be promoted within five business days after the maintaining bank receives notification from the ANP. TITLE VIII-A PROVISION OF VIRTUAL ASSET SERVICES IN THE FOREIGN EXCHANGE MARKET SOLE CHAPTER Article 76-A. The provision of virtual asset services that comprises the following activities or operations is included in the foreign exchange market: I - international payment or transfer with virtual assets; II - virtual asset transfer from or to a customer of a virtual asset service provider to fulfill an obligation arising from the international use of a card or another electronic payment instrument; III - virtual asset transfer from or to a self -custodied wallet that does not involve payment or international transfer with virtual assets; and IV - purchase, sale, or exchange of virtual assets referenced in fiat currency. § 1 For the purposes of this Resolution: 12 Agência Nacional do Petróleo , Gás Natural e Biocombustíveis (National Agency for Petroleum, Natural Gas and Biofuels) This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 I - references to the purchase or sale of a virtual asset mean that the virtual asset service provider is the buyer or the seller, respectively; and II - a self-custodied wallet is one whose owner controls the respective private key, being able to operate it without the participation of a virtual asset service provider. § 2 The purchase or sale of virtual assets with payment or receipt in foreign currency is prohibited, including in the case of purchase or sale carried out in an order book. § 3 The transfer of funds of interest to third parties through the provision of virtual asset services included in the foreign exchange market is prohibited, except when the virtual asset service provider renders services to an institution authorized to operate in the foreign exchange market, acting on behalf of its customers. § 4 The virtual asset service provider must be able to prove that, for the execution of the transaction, the customer was aware of the negotiated conditions and the responsibilities of the parties. § 5 The virtual asset service provider must identify the owner of the self-custodied wallet, implement and document processes to verify the origin and destination of the virtual assets in the operations referred to in the main section of this article. § 6 The activities or operations mentioned in this article, when carried out for investment purposes, with flows and stocks related to foreign capital in Brazil and Brazilian capital abroad, must comply with the respective regulations governing such capital. Article 76-B. For the purposes of this Resolution, international payment or transfer with virtual assets means: I - payment or transfer whose settlement occurs through virtual assets ownership change between a resident and a non-resident, or between non-residents; or II - the receipt or sending, to or from abroad, of virtual asset owned by the same natural or legal person. § 1 The provision in the main section of this article does not include virtual asset ownership change resulting from virtual asset exchange in an order book with access offered to the customer by the virtual asset service provider itself. § 2 In the case of operation involving virtual asset service provider abroad, the virtual asset service provider must verify whether the entity abroad is under effective prudential and conduct supervision or if it is part of a financial group subject to effective consolidated supervision, noting that if the jurisdiction where such entity is located does not establish such requirements, the virtual asset service provider must have a documented assessment of the risks of conducting business with such entity. Article 76 -C. To carry out the operations referred to in Article 76 -B, the virtual asset service provider must: This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 I - obtain from the customer the information on the purpose of the payment or transfer, presenting or making available, for this intent, in whichever format that allows clear understanding by the customer, the codes contained in Annexes III or IV, considering the equivalent of US$50,000.00 (fifty thousand United States dollars) as the limit per payment or transfer for the use of Annex III; II - provide guidance and technical support to the customer who needs assistance for the correct classification of the purpose of the payment or transfer; III - obtain from the customer the information contained in Annex VI regarding the payer or receiver abroad and their relationship with the customer; IV -


provider must: This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 I - obtain from the customer the information on the purpose of the payment or transfer, presenting or making available, for this intent, in whichever format that allows clear understanding by the customer, the codes contained in Annexes III or IV, considering the equivalent of US$50,000.00 (fifty thousand United States dollars) as the limit per payment or transfer for the use of Annex III; II - provide guidance and technical support to the customer who needs assistance for the correct classification of the purpose of the payment or transfer; III - obtain from the customer the information contained in Annex VI regarding the payer or receiver abroad and their relationship with the customer; IV - adjust, at the customer’s request, information previously provided by the customer regarding the payment or transfer. (This article enters into force on May 4, 2026) TITLE IX PROVISION AND DISCLOSURE OF INFORMATION SOLE CHAPTER Art. 77. The institution authorized to operate in the foreign exchange market must send to the Banco Central do Brasil information on operations in the foreign exchange market within the term, in the form and under the conditions established in this Resolution. Art. 78. The transmission of information regarding foreign exchange market operations must be carried out between 7 a.m. and: I - 7 p.m. for recording the events of the primary market; II - 5 p.m. for the recording of interbank market events, except those of cross - currency trades; III - 7 p.m. for the registration of the contracting of cross -currency trades in the interbank market. § 1 The transactions negotiated after the times listed in the items of the main section of this article must be recorded with the date of the event of the subsequent transaction. § 2 The Banco Central do Brasil may extend the hours contained in the main section of this article in a situation of exceptionality and upon communication to the institutions authorized to operate in the foreign exchange market. § 3 The provision of information to the Banco Central do Brasil on a foreign exchange operation of up to US$50,000.00 (fifty thousand United States dollars), or its equivalent in other currencies, that does not need to be linked to the foreign capital ope ration informed in a system of the Banco Central do Brasil can be carried out until the fifth day of the following month, observing that such provision of information can be carried out by means of a file in the case of a foreign exchange operation for spot settlement with only one payer or receiver abroad This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 and not subject to the intervention of a broker or distributor authorized to operate by the Banco Central do Brasil. § 4 The automatic settlement option may be used for the purchase or sale of foreign currency with a customer, contracted for spot settlement, for any purpose that does not need to be linked to the foreign capital operation informed in the system of the Banco Central do Brasil, and with only one payer or receiver abroad. § 5 The cancellation of registration in the Sistema Câmbio of events of the foreign exchange operation is allowed only in exceptional situations for the correction of errors or elimination of duplicity and must observe additional requirements of the Banco Central do Brasil. § 6 The registration of a foreign exchange operation after the regulatory deadline is only allowed for the situation referred to in § 5, except for the contingency solutions of the Sistema Câmbio or situations arising from factors beyond the control of the institutions authorized to operate in the foreign exchange market. Art. 79. The information contained in Annex I to this Resolution and any changes related to foreign exchange operations must be provided to the Banco Central do Brasil by the institution authorized to operate in the foreign exchange market, through the Sistema Câmbio, within the term, in the form and under the conditions established in this Resolution. § 1 The Banco Central do Brasil may additionally request additional information to be sent by institutions authorized to operate in the foreign exchange market. § 2 The information regarding operations recorded in the Sistema Câmbio must be compatible with the balances of the accounts that make up the exchange position of the institution authorized to operate in the foreign exchange market. § 3 The institution authorized to operate in the foreign exchange market that


situations arising from factors beyond the control of the institutions authorized to operate in the foreign exchange market. Art. 79. The information contained in Annex I to this Resolution and any changes related to foreign exchange operations must be provided to the Banco Central do Brasil by the institution authorized to operate in the foreign exchange market, through the Sistema Câmbio, within the term, in the form and under the conditions established in this Resolution. § 1 The Banco Central do Brasil may additionally request additional information to be sent by institutions authorized to operate in the foreign exchange market. § 2 The information regarding operations recorded in the Sistema Câmbio must be compatible with the balances of the accounts that make up the exchange position of the institution authorized to operate in the foreign exchange market. § 3 The institution authorized to operate in the foreign exchange market that hires a correspondent in Brazil must record information related to its contractor in the Information System on Entities of Interest of the Banco Central (Unicad) prior to conducting business and disclose them in open data format, in the form and under the conditions established by the Banco Central do Brasil. Art. 80. Institutions that maintain non-resident accounts must provide information in relation to the transactions listed in Annex II by the fifth day of the month following the month of the transaction, by means of a message or file. § 1 Revoked § 2 Revoked Sole paragraph. The deadline mentioned in the main section of this article does not apply to transactions that must be reported in the foreign capital information system of the Banco Central do Brasil, in which case the information must be sent by message by the second business day after the customer informs the transaction purpose. This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 Art. 81. The institutions indicated below must additionally provide the following information to the Banco Central do Brasil through the Sistema Câmbio , in the form established by it: I - institutions authorized to operate in the foreign exchange market: information regarding unilateral transfers dealt with in art. 26, until the tenth day of the following month; II - financial institutions and other institutions authorized to operate by the Banco Central do Brasil: information regarding payments and transfers related to eFX, dealt with in Title V, observing that: a) information regarding purchases of goods and services made with a card for international use must be provided by the tenth of the following month; b) information regarding other payments and transfers must be provided within two business days from the request of the Banco Central do Brasil. Sole paragraph. The Banco Central do Brasil will establish the form for sending information regarding the international postal transfer service. Art. 82. The eFX provider whose card for international use issued by it allows the withdrawal abroad or the acquisition of goods and services from abroad must, until 10 a.m., Brasília time: a) to make available in all its customer service channels the conversion rate from the United States dollar to BRL used on the previous day applied in the conversion of the values of the operations in foreign currency of its customers; and II - publish, in the form and conditions established by the Banco Central do Brasil, including in the open data format, information on the history of conversion rates referred to in item I. Article 82 -A. Institutions authorized to operate in the foreign exchange market must send the information contained in Annex II -A regarding their operations involving the provision of virtual asset services defined in this Resolution by the fifth day of the month following the operation, in the format defined by the Banco Central do Brasil. Sole paragraph. The provision in the main section of this article also applies to virtual asset service provider companies referred to in Article 29, § 5. (This article enters into force on May 4, 2026) TITLE X FINAL PROVISIONS Art. 83. Travel agencies still holding authorization to buy and sell foreign currency in cash, checks and travelers checks related to international travel whose final controllers have applied to the Banco Central do Brasil for the constitution and operation of an institution of the National Financial System capable of operating in the foreign exchange market, must note that, if the application is: This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 I - granted, the authorization granted to the travel agency loses its validity on the


Brasil. Sole paragraph. The provision in the main section of this article also applies to virtual asset service provider companies referred to in Article 29, § 5. (This article enters into force on May 4, 2026) TITLE X FINAL PROVISIONS Art. 83. Travel agencies still holding authorization to buy and sell foreign currency in cash, checks and travelers checks related to international travel whose final controllers have applied to the Banco Central do Brasil for the constitution and operation of an institution of the National Financial System capable of operating in the foreign exchange market, must note that, if the application is: This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 I - granted, the authorization granted to the travel agency loses its validity on the start date of the activities of the new authorized institution, respecting the deadline provided for in the business plan; and II - rejected or filed, the authorization granted to the travel agency loses its validity thirty days after the decision of the Banco Central do Brasil. Sole paragraph. The travel agencies referred to in the main section of this article: I - may purchase foreign currency from an institution that is part of the National Financial System authorized to operate in the foreign exchange market to supply resources; II - may not conduct foreign exchange operations through a service station and the hiring of correspondents to the course of foreign exchange operations; III - have no exchange position, but must observe the daily operating limit of US$200,000.00 (two hundred thousand United States dollars), which represents the total in foreign currency maintained by the travel agency in cash and in the foreign currency account referred to in item I of art. 70, and any excess over said limit must be sold to an institution that is part of the National Financial System authorized to operate in the foreign exchange market, observing that the occurrence of excess over the opera tional limit, if configured as contumacy, may imply revocation of the authorization; IV - must send the information regarding their operations to the Banco Central do Brasil in the form and within the period defined by it. Art. 84. Institutions authorized to operate in the foreign exchange market must comply with the conditions of legitimate creditors or debtors for the course of foreign exchange operations. Art. 85. To carry out the operations referred to in this resolution, institutions authorized to operate in the foreign exchange market must comply with the provisions of Circular No. 3.978, of 2020. Art. 86. The following is revoked: I - Resolution No. 2,202, of September 27, 1995; II - Resolution No. 2,524, of July 30, 1998; III - Resolution No. 2,644, of September 10, 1999; IV - Resolution No. 3,525, of December 20, 2007; V - Resolution No. 3.568, of May 29, 2008; VI - Resolution No. 3.657, of December 17, 2008; VII - art. 1 of Resolution No. 3.661, of December 17, 2008; VIII - Resolution No. 3.911, of October 5, 2010; IX - Resolution No. 3.954, of February 24, 2011; This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 X - Resolution No. 3,965, of March 31, 2011; XI - article 2 of Resolution No. 4,021, of September 29, 2011; XII - Resolution No. 4,051, of January 26, 2012; XIII - Resolution No. 4.103, of June 28, 2012; XIV - Resolution No. 4.113, of July 26, 2012; XV - Resolution No. 4,198, of March 15, 2013; XVI - § 1 of article 1 of Resolution No. 4,319, of March 27, 2014; XVII - Resolution No. 4,407, of April 23, 2015; XVIII - Resolution No. 4,811, of April 30, 2020; XIX- CMN Resolution No. 4,844, of July 30, 2020; XX - CMN Resolution No. 4,942, of September 9, 2021; XXI - article 2 of CMN Resolution No. 4,948, of September 30, 2021; XXII - CMN Resolution No. 4,961, of October 21, 2021; XXIII - CMN Resolution No. 4,980, of January 27, 2022; XXIV - Circular No. 3,690, of December 16, 2013; XXV - Circular No. 3,691, of December 16, 2013; XXVI - Circular No. 3.702, of March 28, 2014; XXVII - Circular No. 3,750, of March 11, 2015; XXVIII - Circular No. 3,766, of October 1, 2015; XXIX - Circular No. 3.811, of September 14, 2016; XXX - Circular No. 3.825, of January 26, 2017; XXXI - Circular No. 3.829, of March 9, 2017; XXXII - Circular No. 3.831, of April 13, 2017; XXXIII - Circular No. 3.845, of September 13, 2017;


- Resolution No. 4,811, of April 30, 2020; XIX- CMN Resolution No. 4,844, of July 30, 2020; XX - CMN Resolution No. 4,942, of September 9, 2021; XXI - article 2 of CMN Resolution No. 4,948, of September 30, 2021; XXII - CMN Resolution No. 4,961, of October 21, 2021; XXIII - CMN Resolution No. 4,980, of January 27, 2022; XXIV - Circular No. 3,690, of December 16, 2013; XXV - Circular No. 3,691, of December 16, 2013; XXVI - Circular No. 3.702, of March 28, 2014; XXVII - Circular No. 3,750, of March 11, 2015; XXVIII - Circular No. 3,766, of October 1, 2015; XXIX - Circular No. 3.811, of September 14, 2016; XXX - Circular No. 3.825, of January 26, 2017; XXXI - Circular No. 3.829, of March 9, 2017; XXXII - Circular No. 3.831, of April 13, 2017; XXXIII - Circular No. 3.845, of September 13, 2017; XXXIV - Circular No. 3.914, of September 20, 2018; XXXV - Circular No. 4,002, of April 16, 2020; XXXVI - Circular No. 4,018, of May 13, 2020; XXXVII - Circular No. 4,019, of May 13, 2020; XXXVIII - Circular No. 4,025, of June 10, 2020; XXXIX - Resolution BCB No. 4, of August 12, 2020; XL - Resolution BCB No. 16, of September 17, 2020; This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 XLI - Resolution BCB No. 137, of September 9, 2021; XLII - Resolution BCB No. 148, of September 29, 2021; XLIII - Resolution BCB No. 159, of November 3, 2021; XLIV - Resolution BCB No. 164, of November 23, 2021; XLV - Resolution BCB No. 183, of February 9, 2022; XLVI - Resolution BCB No. 231, of July 27, 2022; and XLVII - Resolution BCB No. 268, of December 1, 2022. Art. 87. This Resolution shall enter into force on the date of its publication, except for its following provisions, which shall enter into force on July 1, 2023: I - the sole paragraph of article 12; II - item III of article 29; III - § 4 of article 29. Otávio Ribeiro Damaso Deputy Governor for Regulation This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 ANNEX I TO BCB RESOLUTION BCB No. 277, OF DECEMBER 31, 2022 MINIMUM INFORMATION THAT IS PART OF THE FOREIGN EXCHANGE OPERATION I - identification of the institution authorized to operate in the foreign exchange market and, if any, of the intermediary institution; and it must be informed to the customer the names and registration numbers in the Cadastro Nacional da Pessoa Jurídica (CNPJ) of the se institutions; II - customer identification, observing Circular No. 3.978, of January 23, 2020; III - number of the foreign exchange operation in the Sistema Câmbio; IV - date of the event and if the event refers to contracting, amendment or cancellation; V - information on whether the foreign exchange operation is for the purchase or sale of foreign currency; VI - foreign currency; VII - value in foreign currency; VIII - foreign exchange rate; IX - value in national currency; X - Total Effective Value (VET), when required; XI - form of delivery of foreign currency; XII - expected date for settlement; XIII - purpose of the operation (nature and, when required, group); XIV - payer or receiver abroad, when required; XV - name and country of the payer or receiver abroad, if any; XVI - relationship between the customer and the payer or the recipient abroad, when required; XVII - percentage of advance payment on the foreign exchange operation, if any; XVIII - foreign capital code number, if any; XIX - instructions for receipt or payment, if any; XX - customer, when required; XXI - other information that the Banco Central do Brasil requests. This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 ANNEX II TO RESOLUTION BCB No. 277, OF DECEMBER 31, 2022 INFORMATION TO BE SENT TO THE BANCO CENTRAL DO BRASIL IN RELATION TO TRANSACTIONS IN ACCOUNTS IN BRL HELD BY NON-RESIDENTS (1) Transaction related to a payment order received from abroad or sent abroad of interest to a third party of less than R$1,000,000.00 (one million BRL) when the sender or the final recipient is resident or, regardless of the value, when the sender and the final recipient are non-residents: I - value and date of the transaction; II - identification of the account holder;


receipt or payment, if any; XX - customer, when required; XXI - other information that the Banco Central do Brasil requests. This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 ANNEX II TO RESOLUTION BCB No. 277, OF DECEMBER 31, 2022 INFORMATION TO BE SENT TO THE BANCO CENTRAL DO BRASIL IN RELATION TO TRANSACTIONS IN ACCOUNTS IN BRL HELD BY NON-RESIDENTS (1) Transaction related to a payment order received from abroad or sent abroad of interest to a third party of less than R$1,000,000.00 (one million BRL) when the sender or the final recipient is resident or, regardless of the value, when the sender and the final recipient are non-residents: I - value and date of the transaction; II - identification of the account holder; III - data on the sender and the final recipient. (2) Transaction related to a payment order received from abroad or sent abroad of interest to a third party when the sender or the final recipient is a resident of an value equal to or greater than R$1,000,000.00 (one million BRL ) or, regardless of the value, when the transaction must be linked to the foreign capital operation informed in a system of the Banco Central do Brasil: I - value and date of transaction; II - identification of the account holder; III - data on the sender and the final recipient. IV - purpose of the transaction, according to Annexes III, IV or V; V - foreign capital code number, if any; (3) Total monthly amount of credits and total monthly amount of debits of transactions equal to or greater than R$10,000.00 (ten thousand BRL) from an account held by an embassy, a consular office, or an international body recognized by the Brazilian Government. This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 ANNEX II-A TO BCB RESOLUTION No. 277, OF DECEMBER 31, 2022 INFORMATION TO BE SENT TO THE BANCO CENTRAL DO BRASIL REGARDING OPERATIONS INVOLVING THE PROVISION OF VIRTUAL ASSET SERVICES DEFINED FOR IN THIS RESOLUTION. (1) International payment or transfer with virtual assets: I - date of the operation; II - purpose of the operation; III - information on whether the operation involves the inflow or outflow of virtual assets; IV - customer identification, in accordance with Circular No. 3,978, of January 23, 2020; V - denomination of the virtual asset; VI - quantity of the virtual asset transferred; VII - reference value in BRL of the unit of the virtual asset on the date of the operation; VIII - payer or receiver abroad; IX - name and country of the payer or receiver abroad; X - relationship between the customer and the payer or receiver abroad. (2) Virtual asset transfer between the virtual asset service provider customer and the issuer of a card or another electronic payment instrument for international use: I - date of the operation; II - information on whether the issuer is the sender or the recipient of the virtual asset; III - customer identification, in accordance with Circular No. 3,978, of January 23, 2020; IV - denomination of the virtual asset; V - quantity of the virtual asset transferred; VI - reference value in BRL of the unit of the virtual asset on the date of the operation; VII - payer or receiver abroad; VIII - name and country of the payer or receiver abroad. (3) Virtual asset transfer to or from a self-custodied wallet that does not involve international payment or transfer with virtual assets: I - date of the operation; II - customer identification, in accordance with Circular No. 3,978, of January 23, 2020; This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 III - denomination of the virtual asset; IV - quantity of the virtual asset transferred; V - reference value in BRL of the unit of the virtual asset on the date of the operation; VI - identification of the owner of the self-custodied wallet; VII - information on whether the self-custodied wallet is the origin or destination. (4) Total monthly purchases, sales, and exchanges of virtual assets referenced in fiat currency: I - reference month; II - customer identification, in accordance with Circular No. 3,978, of January 23, 2020; III - virtual asset referenced in fiat currency: a. denomination; b. monthly quantity obtained by the customer (resulting from sales by the VASP and exchanges); c. monthly quantity delivered


English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 III - denomination of the virtual asset; IV - quantity of the virtual asset transferred; V - reference value in BRL of the unit of the virtual asset on the date of the operation; VI - identification of the owner of the self-custodied wallet; VII - information on whether the self-custodied wallet is the origin or destination. (4) Total monthly purchases, sales, and exchanges of virtual assets referenced in fiat currency: I - reference month; II - customer identification, in accordance with Circular No. 3,978, of January 23, 2020; III - virtual asset referenced in fiat currency: a. denomination; b. monthly quantity obtained by the customer (resulting from sales by the VASP and exchanges); c. monthly quantity delivered by the customer (resulting from purchases from the VASP and exchanges). (This annex enters into force on May 4, 2026) This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB 277, of December 31, 2022 ANNEX III TO RESOLUTION BCB No. 277, OF DECEMBER 31, 2022 Classification codes to indicate the purpose of foreign exchange operation of up to US$50,000.00 (fifty thousand United States dollars) or its equivalent in other currencies, or, when required, to indicate the purpose of transaction of interest to third parties in a non- resident account in BRL of up to R$250,000.00 (two hundred and fifty thousand BRL). Type Code International travel 32999 Donation or other unrequited transfer 37994 Transfer between same natural or legal person accounts 67995 Purchase or sale of goods 12995 Purchase or sale of service Computing and information service 46002 Business service 46978 Other service 46992 External credit Principal 72980 Interest 72997 Others 91992 This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB 277, of December 31, 2022 ANNEX IV TO RESOLUTION BCB No. 277, OF DECEMBER 31, 2022 Classification codes to indicate the purpose of foreign exchange operation exceeding US$50,000.00 (fifty thousand United States dollars) or its equivalent in other currencies, or, when required, to indicate the purpose of transaction of interest to third parties in a non- resident account in BRL exceeding R$250,000.00 (two hundred and fifty thousand BRL). Trade of goods Purpose Code Exports Advance receipt up to 360 days 12108 more than 360 days 12115 Later receipt up to 360 days 12122 more than 360 days 12139 Imports Advance receipt up to 180 days 12407 from 181 up to 360 days 12414 more than 360 days 12421 Later receipt up to 180 days 12438 from 181 up to 360 days 12445 more than 360 days 12452 Back-to-back operations 12029 Virtual assets 12186 Trade of goods without customs transit in Brazil 12823 This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 Transport Purpose Code Freights on exports 22301 on imports 22318 Chartering of transportation mean with crew 22325 Tickets 22332 Other transport revenues/expenses 22349 Insurances Purpose Code Freight/transportation insurance on exports and imports 27100 Other insurances and reinsurances Premium 27117 Indemnity 27124 International travel Purpose Code International travel 32999 Unilateral transfers Purpose Code Maintenance of residents 37303 Taxes 37028 Contributions and benefits from social security 37310 Contributions and benefits from pension funds 37327 Donations and international cooperation 37334 Assets 37217 Other unilateral transfers 37358 This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB 277, of December 31, 2022 Miscellaneous services and others Purpose Code Technical, professional, and administrative services Courier and postal services 47001 Telecommunication services 47018 Computing and information services 46002 Financial services 46019 Research and development 47063 Repairs, maintenance, and technical assistance 46026 Agriculture, mining, waste treatment and depollution and related services 46033 Manufacturing services 47111 Management and legal services 46040 Audiovisuals and related services 47173 Engineering/architectural and other technical, professional, and administrative services 46057 Construction 46105 Brands and franchises – Assignment 46112 Patents and technology – Assignment 46129 Trademarks, franchises, patents, and technology – Use rights 46136 Royalties Copying and distribution license software 47551 others 47568 Assignment or use software 47575 others 47582 Commissions and other expenses on commercial transactions 47609 Personal, cultural, health, education, and entertainment services This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December


Purpose Code Technical, professional, and administrative services Courier and postal services 47001 Telecommunication services 47018 Computing and information services 46002 Financial services 46019 Research and development 47063 Repairs, maintenance, and technical assistance 46026 Agriculture, mining, waste treatment and depollution and related services 46033 Manufacturing services 47111 Management and legal services 46040 Audiovisuals and related services 47173 Engineering/architectural and other technical, professional, and administrative services 46057 Construction 46105 Brands and franchises – Assignment 46112 Patents and technology – Assignment 46129 Trademarks, franchises, patents, and technology – Use rights 46136 Royalties Copying and distribution license software 47551 others 47568 Assignment or use software 47575 others 47582 Commissions and other expenses on commercial transactions 47609 Personal, cultural, health, education, and entertainment services This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 Gambling and betting 46150 Others 46167 Government revenues and expenses 46198 Others Salaries and other compensations 47908 Rental of real estate and equipment 46208 Economic and federative rights of professional athletes 47922 Carbon credits/emission rights 47939 Purchase and sale of real estate 46215 Reimbursements for services rendered or received - companies in the same economic group 46222 Assignment of credits 46239 Indemnities not related to insurance 46246 Capital revenues Purpose Code Financial and capital markets Stocks and investment funds dividends, profit distributions and interests on own capital 52027 Debt securities interest on securities in Brazil 52106 interest on securities abroad 52113 premiums and discounts on the launch or repurchase of Brazilian securities 52144 Loans, financing, advances, lines of credit and financial leasing Interest on operations related to foreign trade 52429 Interest on other operations 52436 Direct investment Dividends, profit distributions and interests on own capital 52443 This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB 277, of December 31, 2022 Deposits Interest on deposits 52508 Brazilian capital Purpose Code Financial and capital markets Stocks 67005 Investment funds 67043 Brazilian Depositary Receipts (BDR) 67050 Debt securities up to 360 days 67108 more than 360 days 67115 Derivatives options premium and periodic adjustments 67201 deposits and calls of margins, guarantees and collateral 67218 Loans, financing, advances, lines of credit and financial leasing - of local expenses or not related to foreign trade operations up to 360 days 67438 more than 360 days 67445 Direct investment Related to merger or acquisition 67476 Other 67483 Deposits 67531 Other Brazilian participation in international organizations capital 67919 Foreign capital Purpose Code This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 Financial and capital markets Stocks 72007 Investment funds 72045 Depositary Receipts (DR) 72090 Securities in Brazil 72117 Securities abroad up to 360 days 72124 more than 360 days 72131 Derivatives options premium and periodic adjustments 72241 deposits and calls of margins, guarantees and collateral 72210 Others 72296 Loans, financing, advances, lines of credit and financial leasing - of local expenses or not related to foreign trade operations up to 360 days 72423 more than 360 days 72430 Direct investment Related to merger or acquisition 72447 Other 72454 Deposits 72533 Group (Revoked) This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB 277, of December 31, 2022 ANNEX V TO RESOLUTION BCB No. 277, OF DECEMBER 31, 2022 Purpose classification codes for authorized institution own operation, for operation between authorized institutions, for operation of an authorized institution with an eFX provider, for operation of an authorized institution with the Banco Central do Brasil or for special operation. Includes non-resident account transaction, when required. Purpose Code Cross-currency trade Operations in Brazil - spot settlement 80013 - future settlement 80518 Operations abroad - spot settlement 83034 - future settlement 83058 Cash to deposits / deposits to cash exchange Operations in Brazil 86017 Operations abroad 86024 Operations between institutions in Brazil Interbank - spot and future settlement 90302 - forward settlement 90357 Gold - spot settlement 93017 - future settlement 93024 Transactions with overseas banks, in exchange for Brazilian reais in cash received from or sent abroad 90500 Operations with the Banco Central do Brasil Specific coverages 95503 Market purchases to the Central Bank 95620 Specific transfers 95008 This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 Mandatory transfers 95204 Market sales to the Central Bank 95101 Payment or international transfer service (eFX) Purchase of


trade Operations in Brazil - spot settlement 80013 - future settlement 80518 Operations abroad - spot settlement 83034 - future settlement 83058 Cash to deposits / deposits to cash exchange Operations in Brazil 86017 Operations abroad 86024 Operations between institutions in Brazil Interbank - spot and future settlement 90302 - forward settlement 90357 Gold - spot settlement 93017 - future settlement 93024 Transactions with overseas banks, in exchange for Brazilian reais in cash received from or sent abroad 90500 Operations with the Banco Central do Brasil Specific coverages 95503 Market purchases to the Central Bank 95620 Specific transfers 95008 This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 Mandatory transfers 95204 Market sales to the Central Bank 95101 Payment or international transfer service (eFX) Purchase of Goods and Services - international use card 34014 - other digital payment solutions - virtual assets 34038 - gaming and betting 34045 - other 34052 Unilateral transfers 34155 Transfer between account in Brazil and account abroad of the same ownership 34124 Withdrawals 34131 Special operations Travel agencies and touristic accommodations - operations with institutions authorized to operate in foreign exchange market 33606 International postal orders and refunds 37097 Obligations arising from the international use of a card or another electronic payment instrument with transfer of virtual assets (enters into force on May 4, 2026.) 34203 Foreign currency inflows with values in reais pre-established abroad to direct funds to natural persons 37114 Gold-exchange instrument operations 67933 Operations in Brazil on non-resident accounts in Brazilian Reais against foreign exchange transactions 72612 Debt assumption 99176 External debt payment for use in environmental projects 99183 Others 99200 Proex chaining 99217 BNDES-Exim chaining 99224 Alienation of seized foreign currency 99303 Obligations linked to interbank operations and position adjustments arising from gains or losses on financial investments abroad 99509 This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB 277, of December 31, 2022 Deposits with the Central Bank of Brazil 99671 Group (Revoked) This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 ANNEX VI TO RESOLUTION BCB No. 277, OF DECEMBER 31, 2022 Classification codes of complementary information in the foreign exchange operation and in the transaction of non-resident accounts classified for the purposes of Annexes IV or V Payer or receiver abroad Code No payer or receiver abroad 90 Resident in Brazil 01 Non-resident in Brazil Natural Person 03 Non-financial company 05 Financial company Bank or another financial intermediary 53 Investment fund 56 Insurance and reinsurance company 58 Pension fund 59 Other financial company 60 Non-Governmental Non-Profitable Institution 71 Foreign Government 78 Multilateral organization 79 Customer relationship with the payer or the recipient abroad Code Operation between companies of the same economic group 40 Others 50 This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB 277, of December 31, 2022 ANNEX VII TO RESOLUTION BCB No. 277, OF DECEMBER 31, 2022 Classification codes of the form of delivery of the foreign currency in the foreign exchange operation Form of delivery of foreign currency Code Foreign currency deposit account in Brazil 21 Deposit or payment account of the exporter in an institution abroad 23 Cash and/or traveler’s cheques 50 Prepaid card 55 Tele transmission 65 Without movement of values 91 Others 99 This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022 ANNEX VIII TO RESOLUTION BCB No. 277, OF DECEMBER 31, 2022 Complementary classification codes for sending to the Banco Central do Brasil by the institution authorized to operate in foreign exchange market Field Code Purpose Payment order in BRL of interest to a third party of less than R$1 million when the payer or final receiver is resident in Brazil 72629 Foreign exchange transaction with a non-resident client who is different from the non-resident payer or receiver, or payment order in BRL of interest to a third party with a non-resident payer who is different from the non- resident final receiver 99406 Endorsement Not required by regulation N Payer or recipient abroad Registration of transactions in the interbank market 66 Classification not required by regulation 67 Customer relationship with the payer or the recipient abroad Classification not required by regulation 67 Customer Classification not required by regulation 67 Group Payment orders


VIII TO RESOLUTION BCB No. 277, OF DECEMBER 31, 2022 Complementary classification codes for sending to the Banco Central do Brasil by the institution authorized to operate in foreign exchange market Field Code Purpose Payment order in BRL of interest to a third party of less than R$1 million when the payer or final receiver is resident in Brazil 72629 Foreign exchange transaction with a non-resident client who is different from the non-resident payer or receiver, or payment order in BRL of interest to a third party with a non-resident payer who is different from the non- resident final receiver 99406 Endorsement Not required by regulation N Payer or recipient abroad Registration of transactions in the interbank market 66 Classification not required by regulation 67 Customer relationship with the payer or the recipient abroad Classification not required by regulation 67 Customer Classification not required by regulation 67 Group Payment orders in BRL – third parties 60 Classification not required by regulation 67 Regulatory sandbox 88 This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB 277, of December 31, 2022 ANNEX IX TO RESOLUTION BCB No. 277, OF DECEMBER 31, 2022 (Revoked) This English version is a translation of the original in Portuguese for information purposes only. In case of a discrepancy, the Portuguese original will prevail. Resolution BCB No. 277, of December 31, 2022


BCB Resolution 278/2022 — Foreign Capital in Brazil — English Version

BCB RESOLUTION No. 278 OF DECEMBER 31, 2022 Regulates Law No. 14,286 of December 29, 2021, on foreign capital in the country, external credit operations, and foreign direct investment, as well as the reporting of information to the Central Bank of Brazil. Disclaimer This document represents the best effort of the Central Bank of Brazil (‘Banco Central do Brasil’ - BCB) to provide an English version of the original regulation or legislation. This version is for informational purposes only and does not, for any legal effect, replace the Portuguese version of the document published in the Brazilian Official Gazette (“Diário Oﬁcial da União”), nor should it be considered an official translation. Further questions regarding this document’s content may be forwarded to: Prudential and Foreign Exchange Regulation Department – Dereg Last updated in December 2024 dereg@bcb.gov.br Phone: +55 61 3414-1360 The Brazilian main ﬁnancial regulation on foreign exchange and international capital can be accessed at BCB Website The Board of Governors of the Central Bank of Brazil, in an extraordinary session held on December 30 and 31, 2022, based on Articles 1, 5, items VIII and IX, and § 4, 8, 9, 10, 11, and 18 of Law No. 14,286, of December 29 2021, R E S O L V E S: CHAPTER I GENERAL PROVISIONS Article 1. This Resolution regulates Law No. 14,286, of 29 December 2021, regarding the ﬂows, stocks, and reporting of information of foreign capital in the country in operations of: I - external credit; and II - foreign direct investment. Article 2 . For the purposes of the provisions of this Resolution, the following deﬁnitions apply: I - external credit: ﬁnancial commitment, even if the funds do not enter the country, assumed by a resident whose creditor is a non-resident due to: a) direct loan; b) issuance of bonds in the international market; c) issuance of privately placed bonds in the domestic market; d) ﬁnancing; e) Import ﬁnancing of goods or services; f) advance receipt of export s, understood as the raising of external funds in advance of future exports of goods or services that will be carried out in payment of the debt incurred; or g) external ﬁnancial leasing, understood as the operation in which a non- resident legal owner of an asset (lessor) substantially transfers all risks and beneﬁts of ownership of the asset to a resident (lessee) in exchange for payment of installments; (Amended, effective from November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) II - external on-lending operation: a contract linked to the raising of funds abroad, through which a domestic ﬁnancial institution grants credit to a resident by transferring identical cost conditions of the contracted debt (principal, interest, and ancillary charges), including applicable taxation; III - external interbank on-lending operation: an external on-lending operation in which the debtor in the country is another ﬁnancial institution or leasing company; IV - credit assignment: transfer of credit rights, external or internal, between resident and non-resident creditors, or between non-resident creditors; (Amended, effective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) V - foreign direct investment: direct participation of a non-resident in the share capital of a company in the country, or other economic rights of a non- resident in the country derived from an act or contract whenever the return on this investment depends on the business performance; (Amended, effective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) VI - Foreign Capital Information Reporting System for External Credit (SCE -Crédito): information technology (IT) system provided by the Central Bank of Brazil for reporting of information on external credit operations; (Amended, effective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) VII - Foreign Capital Information Reporting System for Foreign Direct Investment (SCE-IED): IT system provided by the Central Bank of Brazil for reporting foreign direct investment ; (Amended, effective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) VIII - SCE-Crédito code: identiﬁer of the external credit operation automatically generated by the SCE-Crédito system after the characterization of the operation is provided; (Amended, effective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) IX - SCE-IED code: unique identiﬁer of the non -resident investor -recipient pair automatically generated by SCE -IED after the identiﬁcation of the recipient and the non- resident investor; (Amended, effective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) X - Non-Resident Declaratory Registration (CDNR): system provided by the Central Bank of Brazil in which the registration information of the non- resident is declared, generating a CDNR number, which is required for reporting information on external credit operations; (Amended, effective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) XI - recipient:


effective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) VIII - SCE-Crédito code: identiﬁer of the external credit operation automatically generated by the SCE-Crédito system after the characterization of the operation is provided; (Amended, effective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) IX - SCE-IED code: unique identiﬁer of the non -resident investor -recipient pair automatically generated by SCE -IED after the identiﬁcation of the recipient and the non- resident investor; (Amended, effective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) X - Non-Resident Declaratory Registration (CDNR): system provided by the Central Bank of Brazil in which the registration information of the non- resident is declared, generating a CDNR number, which is required for reporting information on external credit operations; (Amended, effective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) XI - recipient: any entity constituted or organized in the country according to applicable Brazilian legislation, whether for -proﬁt or non-proﬁt, with or without legal personality, including any corporation, society, partnership, individual entrepreneur, consortium, and special partnership companies; (Amended, effective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) XII - international conference of quotas or shares : capital contribution to a Brazilian company made by a n on-resident through the transfer or exchange of equity interest held in a foreign company, headquartered abroad, or capital contribution to a foreign company, headquartered abroad, made by a resident through the transfer or exchange of equity interest held in a Brazilian company; (Amended, eﬀective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) XIII (Revoked, eﬀective October 1, 2024, by Resolution BCB No. 410 of September 11, 2024.) XIV - (Revoked, eﬀective October 1, 2024, by Resolution BCB No. 410 of September 11, 2024.) XV - corporate reorganization: merger, acquisition, or spin-oﬀ of companies in the country, in which at least one of them is a recipient of foreign direct investment ; (Amended, eﬀective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) XVI - reinvestment: capitalization of proﬁts, dividends, interest on equity, or proﬁt reserves in the recipient where it was produced; (Amended, eﬀective November 1, 2023, by BCB Resolution No. 348 of October 17, 2023.) XVII - conversion: operation by which rights and credits t h a t m a y r e s u l t i n ﬁnancial transfers abroad, as well as assets belonging to non -residents, are converted into foreign direct investment or external credit under the terms of this Resolution; (Amended, eﬀective November, 1 2023, by BCB Resolution No. 348 of October 17, 2023.) XVIII - (Revoked, eﬀective October 1, 2024, by Resolution BCB No. 410 of September 11, 2024.) XIX - alienation to a resident : transfer of a shareholding in a Brazilian company from a non - resident investor to a resident investor; (Included, eﬀective October 1, 2024, by BCB Resolution No. 410 of September 11, 2024.) XX - acquisition from a resident: transfer of a shareholding in a Brazilian company from a resident investor to a non-resident investor; (Included, eﬀective October 1, 2024, by BCB Resolution No. 410 of September 11, 2024.) XXI - deactivation of the SCE-IED code: termination of the recipient-investor pair relationship due to the extinction of the investment; and (Included, eﬀective October 1, 2024, by BCB Resolution No. 410 of September 11, 2024.) XXII - termination of the recipient: liquidation, total split, merger, or incorporation of the Brazilian company receiving the investment. (Included, eﬀective October 1, 2024, by BCB Resolution No. 410 of September 11, 2024.) CHAPTER II FLOWS AND STOCKS OF FOREIGN CAPITAL Section I General Provisions Article 3. Foreign capital ﬂows and stocks shall follow the form and conditions established in this Chapter in addition to the provisions of the foreign exchange market regulation. Article 4. The legality, economic basis and compatibility with the conditions usually observed in international markets of the external credit and foreign direct investment operations referred to in this Resolution shall be observed. Sole paragraph. The supporting documentation of the operations shall be kept for a period of 10 (ten) years, counted from the conclusion of the operation, in the case of external credit, or from the end of the participation in the share capital of the recipient, in the case of foreign direct investment, and the Central Bank of Brazil may, during this period, request it from the debtor of the external credit operation or the recipient, whenever it deems necessary. Section II External Credit Operations Article 5. The contracting and renegotiation of external credit operations in any currency are free. Article 6. The costs and other conditions of external credit operations shall be compatible with those usually observed in international markets and clearly deﬁned


and compatibility with the conditions usually observed in international markets of the external credit and foreign direct investment operations referred to in this Resolution shall be observed. Sole paragraph. The supporting documentation of the operations shall be kept for a period of 10 (ten) years, counted from the conclusion of the operation, in the case of external credit, or from the end of the participation in the share capital of the recipient, in the case of foreign direct investment, and the Central Bank of Brazil may, during this period, request it from the debtor of the external credit operation or the recipient, whenever it deems necessary. Section II External Credit Operations Article 5. The contracting and renegotiation of external credit operations in any currency are free. Article 6. The costs and other conditions of external credit operations shall be compatible with those usually observed in international markets and clearly deﬁned in the operation contracts. Article 7. Financial transfers and movements abroad resulting from external credit operations are limited to the amount necessary to settle the principal of the debt, interest, and charges. Article 8. The early settlement of obligations, including ancillary charges, as well as the early payment of interest related to external credit operations, is allowed. Article 9. Payment by a co-responsible party or third party of amounts due in an external credit operation shall observe the legality of this prerogative. Article 10. The raising of funds abroad, both for free application in the domestic market and for carrying out external interbank on-lending operations, can be carried out by ﬁnancial institutions and leasing companies, observing the regulations pertinent to such entities. Article 11. The raising of funds abroad for carrying out external on -lending operations can only be carried out by ﬁnancial institutions. § 1 . In the external on -lending operation, the ﬁnancial institution shall pass on to the ﬁnal borrower the eﬀects resulting from the exchange rate variation of the debt originally contracted abroad. § 2. In the external on-lending operation, the charging of any burden is prohibited, except for a commission for the ﬁnancial intermediation service. § 3. The entry of funds into the country for external on-lending operations may also occur from an account abroad specially designated for the fund -raising operation carried out with multilateral development banks and international development agencies, held by the national ﬁnancial institution. Article 12. The advance receipt of export proceeds operation may refer to the export of the debtor of the operation, its parent company, its subsidiaries, or a company controlled by its parent company. § 1. The advance of funds to Brazilian exporters can be carried out by: I - the importer; II - a non-ﬁnancial legal entity abroad; or III - a ﬁnancial institution abroad. § 2 . The amortization of advance receipt of export proceeds operations shall be carried out through the shipment of goods or the provision of services, and interest can be paid through ﬁnancial transfers or exports. Article 13. In the event that the shipment of goods or the provision of services does not occur as ref err ed to in Article 12, the return of the funds that entered the country in the f orm of this Section, including by the guarantor of the operation, or the conversion into foreign direct investment or direct loan, is allowed. Article 14. The external ﬁnancial leasing operation shall have: I - a total term limited to the useful life of the asset; II – considerations compatible with the conditions practiced in the international market for the term and type of leased asset; III - contractual installments, ﬁxed installments, distributed over time in such a way that, at any moment during the contract’s term, the proportion between the total amount already transferred abroad and the lease value is not higher than the proportion between the elapsed term and the total term of the operation; and IV - a contract with a purchase option clause or renewal of the contract term. Sole paragraph. In the case of an external ﬁnancial leasing contract between a lessor -buyer domiciled abroad and a lessee -seller domiciled in the country (sale -leaseback), the contract value shall be less than 90% (ninety percent) of the cost of the leased asset, whose acquisition shall occur through payment in full at the time of purchase. Section III Foreign Direct Investment Operations Article 15. The carrying out of foreign direct investment operations in the country, as well as their ﬁnancial transfers and associated movements, is free, subject to the provisions of the speciﬁc legislation and the economic basis of the operation. CHAPTER III ON THE REPORTING OF INFORMATION ON FOREIGN CAPITAL Section I General Provisions Article 16. Information related to external credit operations and foreign direct investment shall be reported to the Central Bank of


- a contract with a purchase option clause or renewal of the contract term. Sole paragraph. In the case of an external ﬁnancial leasing contract between a lessor -buyer domiciled abroad and a lessee -seller domiciled in the country (sale -leaseback), the contract value shall be less than 90% (ninety percent) of the cost of the leased asset, whose acquisition shall occur through payment in full at the time of purchase. Section III Foreign Direct Investment Operations Article 15. The carrying out of foreign direct investment operations in the country, as well as their ﬁnancial transfers and associated movements, is free, subject to the provisions of the speciﬁc legislation and the economic basis of the operation. CHAPTER III ON THE REPORTING OF INFORMATION ON FOREIGN CAPITAL Section I General Provisions Article 16. Information related to external credit operations and foreign direct investment shall be reported to the Central Bank of Brazil in accordance with this Resolution. Article 17. Persons responsible for the reporting of information: I - the debtor, in the case of external credit operations; or II - the recipient, in the case of foreign direct investment operations. (Amended, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) Article 18. The person responsible for the reporting of information shall: I - keep the supporting documentation of the information provided up -to-date and in order, available to the Central Bank of Brazil, until the end of the 10 (ten) year period, counted from: a) the conclusion of the obligations of the operation, in the case of external credit; or b) the liquidation of the foreign direct investment of each investor in the recipient, in the case of foreign direct investment; II - ensure the correction of reported information that is incorrect, outdated, or incomplete; III - ensure the correction of information when requested by the Central Bank of Brazil. § 1. The person responsible for the reporting of information is accountable for the economic basis and legality of the operation, as well as for the truthfulness of the declarations made. (Amended, eﬀective from 1 October 2024, by BCB Resolution No. 410 of 11 September 2024.) § 2. The person responsible for the reporting of information or their legal representative shall provide the d eactivation of the SCE -IED code and the termination of the recipient in the applicable situations. (Included, eﬀective from 1 October 2024, by BCB Resolution No. 410 of 11 September 2024.) Article 19. The person responsible for the reporting of information is subject to the penalties established in the legislation and speciﬁc regulations. Article 20. The debtor and the recipient may appoint a representative to include, consult, and update the information reported to the Central Bank of Brazil. § 1. Financial institutions and other institutions authorized to operate by the Central Bank of Brazil may include and modify representatives as long as they are authorized by the debtor or the recipient. § 2. The supporting documentation of the authorizations referred to in this article shall be kept available to the Central Bank of Brazil for the same retention period as the documentation of the foreign capital operation to which the authorization refers, as established in Article 18. § 3. The authori z a tion r e f e rr ed t o in this arti cle ma y be obt ained by a n y m eans agr eed upon between the parties, with due legal security and clear expression of consent from the information provider in the appointment of the representative. Article 21. In the ﬁnancial transfers of external credit operations or foreign direct investment subject to the reporting of information, according to the requirement criteria of this norm, the following shall be included in the information of the foreign exchange operation or the movement of third-party interest funds in a non-resident account in reais: (Amended, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) I - the SCE-Crédito code in all ﬁnancial transfers; or (Amended, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) II - the SCE-IED code in ﬁnancial transfers of an amount equal to or greater than USD 100,000.00 (one hundred thousand United States dollars) or its equivalent in other currencies. (Amended, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) Article 22. Non-compliance with the provisions related to the reporting of information on foreign capital operations in the country may result in the prohibition of ﬁnancial transfers related to the operation until the irregularities are corrected, without prejudice to the application of penalties under the law. Section II External Credit Operations Article 23. The reporting of information shall be carried out by the responsible party both in cases of inﬂow of


by BCB Resolution No. 348 of 17 October 2023.) I - the SCE-Crédito code in all ﬁnancial transfers; or (Amended, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) II - the SCE-IED code in ﬁnancial transfers of an amount equal to or greater than USD 100,000.00 (one hundred thousand United States dollars) or its equivalent in other currencies. (Amended, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) Article 22. Non-compliance with the provisions related to the reporting of information on foreign capital operations in the country may result in the prohibition of ﬁnancial transfers related to the operation until the irregularities are corrected, without prejudice to the application of penalties under the law. Section II External Credit Operations Article 23. The reporting of information shall be carried out by the responsible party both in cases of inﬂow of funds into the country and in cases where these are kept abroad, in the following situations: I - direct loan, issuance of bonds in the international market, issuance of privately placed bonds in the domestic market, and ﬁnancing, including from international organizations, whenever the value of the external credit operation is equal to or greater than USD 1,000,000.00 (one million United States dollars) or its equivalent in other currencies; II - ﬁnanced import of goods or services with a payment term exceeding 180 (one hundred and eighty) days, whenever the value of the external credit operation is equal to or greater than USD 500,000.00 (ﬁve hundred thousand United States dollars) or its e quivalent in other currencies; and III - advance receipt of export proceeds and external ﬁnancial leasing, with a payment term exceeding 360 (three hundred and sixty) days, whenever the value of the external credit operation is equal to or greater than USD 1,000,000.00 (one million United States dollars) or its equivalent in other currencies. § 1 . The reporting of information on external credit operations contracted by entities of the Direct and Indirect Public Administration at the federal, state, municipal, and Federal District levels shall be carried out regardless of the value of the operation. § 2. For the calculation of the equivalence in other currencies of the values mentioned in this article, the date of the contract signing or the date of issuance of the bonds abroad shall be considered, taking into account the exchange rate of the previous business day published by the Central Bank of Brazil. Article 24. Information related to non-residents involved in external credit operations shall be declared in the CDNR prior to the reporting of information. Article 25. For the purposes of this Chapter, new information shall be reported whenever, after the ﬁrst ﬁnancial transfer or movement, there is: I - a change in the maturity date; II - a renegotiation of ﬁnancial conditions; or III - a change of debtor, except in cases of corporate restructuring, succession, or court order. § 1. The new information shall be reported by the responsible party within 30 (thirty) days after the occurrence of the change. § 2. The provisions of the caput do not apply to changes in the interest rate whose indexer has ceased to be published. Article 25-A. Conversions between external credit operations, including interest and charges into principal, shall be reported in SCE -Crédito within 30 (thirty) days after their occurrence. (Included, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) Article 26. The registration of external credit operations carried out prior to the eﬀectiveness of this Resolution shall be kept up to date, in accordance with this Resolution, until the end of the operation, if it falls under the situations provided for in Article 23. Sole paragraph . The following are exempt from being updated, remaining available for consultation for a period of 1 (one) year after the entry into force of this Resolution: I - the records of royalty contracts, technical services and similar, external operational leasing, rental, and chartering carried out prior to the eﬀectiveness of this Resolution; and II - the records of external credit operations carried out prior to the eﬀectiveness of this Resolution and not falling under the situations provided for in Article 23. Article 27. The reporting of information on external credit operations consists of: I - identiﬁcation of the parties; I - characterization of the operation; (Amended, eﬀective from 1 November 2023 , by BCB Resolution No. 348 of 17 October 2023.) II - payment conditions; (Amended, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) III - payment schedule; and IV - details of ﬁnancial transfers and movements related to the operation, as provided in Articles 30 and 31. Article 28. The characterization of the operation and the payment conditions shall


I - the records of royalty contracts, technical services and similar, external operational leasing, rental, and chartering carried out prior to the eﬀectiveness of this Resolution; and II - the records of external credit operations carried out prior to the eﬀectiveness of this Resolution and not falling under the situations provided for in Article 23. Article 27. The reporting of information on external credit operations consists of: I - identiﬁcation of the parties; I - characterization of the operation; (Amended, eﬀective from 1 November 2023 , by BCB Resolution No. 348 of 17 October 2023.) II - payment conditions; (Amended, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) III - payment schedule; and IV - details of ﬁnancial transfers and movements related to the operation, as provided in Articles 30 and 31. Article 28. The characterization of the operation and the payment conditions shall be declared in SCE-Crédito: (Amended, eﬀective from 1 November 2023 , by BCB Resolution No. 348 of 17 October 2023.) I - until the funds enter the country, when the operation is contracted with inﬂow; or II - within 30 (thirty) days after disbursement, delivery of the goods, or provision of services, by the creditor, abroad or in the country, when the operation is contracted without inﬂow of funds into the country. (Amended, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) Article 29 . The information related to the payment schedule, essential for the execution of remittances, shall be declared by the responsible party within 30 (thirty) days, as applicable, after: I - the inﬂow of currency; II - customs clearance; III - the provision of services to the resident; or IV - the disbursement or delivery of goods, by the creditor, abroad or in the country, in operations without inﬂow of funds into the country. (Amended, eﬀective from 1 November 2023 , by BCB Resolution No. 348 of 17 October 2023.) Article 30. The information regarding ﬁnancial transfers, including the movement of third-party interest funds in a non -resident account in reais, of external credit operations subject to the reporting of information, is automatically captured by SCE -Crédito, based on information available in the Foreign Exchange System. (Amended, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) Sole paragraph. The amounts received are automatically captured in the currencies listed in the foreign exchange operations and the movements of third-party interest funds in a non-resident account in reais, regardless of the currency contracted in the credit operation, which shall be reported as the denomination currency. (Amended, e ﬀ ective f r om 1 Nov embe r 2023, by BCB Resolution No. 348 of 17 October 2023.) Article 31. In external credit operations subject to the reporting of information, the following movements shall be declared by the responsible party in SCE-Crédito within 30 (thirty) days after their occurrence: (Amended, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) I - shipment of goods abroad; II - provision of services to a non-resident; III - payments and receipts occurred abroad; IV - payments and receipts in non -resident accounts in reais that are not third -party interest movements; (Amended, eﬀective from 1 November 2023 , by BCB Resolution No. 348 of 17 October 2023.) V - write-oﬀ or cancellation of the debt; VI - payments made or obligations incurred in the country; VII - entry of goods and partial or total loss of merchandise; and VIII - credit assignment. (Included, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) Sole paragraph. The debtor of the external credit operation shall report information related to onerous or non -onerous credit assignments made by the creditor of the credit operation. (Included, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) Section III Foreign Direct Investment Operations (Denomination changed, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) Article 32. The reporting of information on foreign direct investment operations shall be carried out by the responsible party when: (Amended, eﬀective from 1 November 2023 , by BCB Resolution No. 348 of 17 October 2023.) I - a ﬁnancial transfer, including the movement of third -party interest funds in a non -resident account in reais, related to a non -resident investor of an amount equal to or greater than USD 100,000.00 (one hundred thousand United States dollars) or its e quivalent in other currencies occurs; (Amended, eﬀective from 1 November 2023, by BCB Resolution No. 348 of 17 October 2023.) II - a movement, in the cases provided for in Article 36, of an amount equal to or greater than USD 100,000.00 (one hundred thousand United