Brazil’s central bank is studying macroprudential measures and international experience to address rising household indebtedness, central bank president Gabriel Galípolo said at Febraban and Febraban Tech events. The indicators cited use different methodologies: household debt excluding mortgages reached 31.1% of income accumulated over the previous 12 months in May, while a CNC survey found 82% of households held some form of debt in July 2026, a record for the sixth consecutive month. Galípolo identified revolving credit-card balances, personal loans and unsecured payroll-deductible credit as greater risks than mortgages because they do not create assets for borrowers. Revolving credit-card rates exceed 400% annually, and household debt-to-income ratios reached roughly 49.8% to 49.9% in mid-2026. He urged caution on further government stimulus, responsible use of Pix and fintech services, stronger borrower understanding of credit costs and adequate lender provisions. Debt-renegotiation programs have offered short-term relief, while banks are shifting toward secured lending and higher-income borrowers, leaving lower-income households more reliant on expensive unsecured credit.