OBS_VALUE: The admission of foreign participants to the local market or increases in the equity share of foreign investors in the capital of financial institutions headquartered in Brazil could only be granted by Presidential Decree. Since 27/09/2019, that recognition can be made by the Central Bank of Brazil (Decree 10.029/2019, Adopted 27/09/2019. Link: http://www.planalto.gov.br/ccivil_03/_ato2019-2022/2019/decreto/D10029.htm). Circular 3977/2020 of the Central Bank declares broadly that it recognises as of interest of the Federal Government the participation of natural or legal persons resident or domiciled abroad in the capital of financial institutions headquartered in the country. Circular available at: https://www.bcb.gov.br/estabilidadefinanceira/exibenormativo?tipo=Circular&numero=3977. Other relevant source is Resolution 278/2022 that regulates Law No. 14286, of 29 December, 2021, in relation to foreign capital in the country, in foreign credit and foreign direct investment operations, as well as the provision of information to the Central Bank of Brazil, available at https://www.bcb.gov.br/estabilidadefinanceira/exibenormativo?tipo=Resolu%C3%A7%C3%A3o%20BCB&numero=278