Brazil’s September 2026 federal debt stock, composition and maturities

Accrued interest accounted for most of the increase

The Ministry of Finance reported a nominal month-on-month rise of 0.97%. It attributed R$89.46 billion to accrued interest and R$764.34 million to net issuance. Gross issuance reached R$189.44 billion and redemptions reached R$188.67 billion. The published net figure uses underlying amounts before rounding. Source 1

Domestic securities dominated the federal total

Domestic marketable federal debt represented 96.32% of the September total. External federal debt was R$345.41 billion, of which R$298.72 billion was marketable and R$46.69 billion contractual. The Treasury series tracks domestic and external obligations within its federal debt reporting perimeter. Source 1 Source 2

Near-term maturities rose while average maturity held

The share coming due in 12 months rose by 3.56 percentage points for total federal debt. Within domestic marketable debt the share rose to 20.42%, and within external federal debt it rose to 7.52%. External federal debt still had half its stock maturing in more than five years, helping explain why its average maturity was longer. Source 1

Interest basis and average cost describe separate characteristics

Floating-rate debt accounted for 51.60% of the total in September, while the price-indexed share was 23.59% and the fixed-rate share was 21.14%. The Treasury’s trailing 12-month average cost was 12.63% per year for total federal debt. A debt instrument’s rate basis describes how its remuneration is determined, while the reported average cost looks back at the portfolio over a year. Source 1 Source 2

Sources

• Brazil Ministry of Finance September 2026 federal debt release
• Brazil National Treasury federal debt series and scope