Two months after approving a loan of R$12 billion from public and private banks to Correios, The National Monetary Council (CMN) authorized this Thursday (26) the state-owned company to borrow an additional R$8 billion in credit operations.
The new loan, also to be granted by a consortium of banks, will allow the state-owned company to complete the R$20 billion financing plan. The two credit operations are guaranteed by the Union, with the National Treasury covering any defaults by Correios.
The R$8 billion from the second credit operation were included in a sublimit created by the CMN, responsible for defining how much public entities – Union, states, municipalities and state-owned companies – can borrow in the financial system. With the decision, the total credit limit for public entities in 2026 increased from R$15.625 billion to R$23.625 billion.
Relocations
In addition to creating a sub-limit for Correios, the CMN rearranged several limits and sub-limits for state and municipal hiring. According to the Ministry of Finance, the reallocations aim to prioritize financing for the New Growth Acceleration Program (New PAC) and public-private partnerships (PPP).
In relation to credit operations guaranteed by the Union (Treasury coverage), the changes were as follows:
- Reduction of the general sublimit for contracting credit operations by states and municipalities, from R$9 billion to R$5 billion;
- Creation of a sub-limit guaranteed by the Union for credit operations included in the New PAC, in the amount of R$2 billion;
- Creation of a sub-limit with a guarantee from the Union for financing PPP projects, also worth R$2 billion.
For the Union’s unsecured credit operations, the changes were as follows:
- Reduction of the general sub-limit for credit operations by states and municipalities, from R$6 billion to R$4 billion;
- Creation of a sub-limit without Union guarantee for credit operations included in the New PAC, in the amount of R$2 billion.
Traditionally in January of each year, the CMN defines the limit and sub-limits for contracting credit by public bodies for the following 11 months. However, due to the authorization of the initial loan of R$12 billion to Correios, the limits for 2026 were approved in December 2025.
