The Central Bank of Brazil (BCB) published Normative Instruction No. 611/2025, which establishes the types of financial assets that may be linked to dynamic collection payment slips — a payment modality created to modernize and enhance the security of transactions involving negotiable credits. The measure is part of regulatory efforts to improve the efficiency and traceability of financial operations, as provided for in BCB Resolution No. 443/2024.
The authorized assets are: electronic trade receivables (governed by Law No. 13,775/2018) and real estate receivables originating from purchase and sale agreements or promises of purchase of standalone units or lots, with or without the issuance of a Real Estate Credit Note (CCI). The selection prioritized assets with well-established market structures, with the aim of reducing operational risks and fraud.
The institutions responsible for payment slip settlement systems must develop implementation schedules in coordination with operators of registration or centralized depository systems. The plans must include a description of working groups, technological development stages, deadlines, and implementation milestones, all of which will be submitted to the BCB for approval. Failure to present a schedule may prevent the service from being offered.
The regulation will take effect on April 30, 2025, with no Regulatory Impact Analysis (RIA) required, as it directly implements a requirement set forth in BCB Resolution 443/2024. The BCB stressed that the measure aims to align financial innovation with risk mitigation, particularly in high-volume transactions such as real estate financing and corporate trade receivables.
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Source: Central Bank of Brazil