Tarciana Medeiros, our CFO, Geovanne Tobias, our CRO, Felipe Prince, and agribusiness and family agriculture VP, Gilson Bittencourt. To initiate our live session, I would like to turn the floor over to Tarciana, our CEO. Good morning, everyone, and thank you very much for joining us for yet another earnings conference call. Today's discussion builds on the transparency approach that has always guided us. We've been very candid about the magnitude of the challenge we are facing, and even more so about our promptness in diagnosing the situation and responding to it with significant changes designed to build a future of profitability and growth. In recent days, as we prepared to release these results, I spoke a lot about clear direction, a term we use frequently where I'm from, and that really holds even greater significance at this moment. The challenges aren't overcome by taking shortcuts, but through clear direction and hard work. For this management team, direction means consistent strategy execution and strengthened drivers of value creation. Second quarter earnings total BRL 3.9 billion, up 13.9% quarter-over-quarter and a 3.3% increase year to date. Net interest income continues to grow, totaling BRL 27.5 billion, supported by a credit mix offering a better risk-return ratio given diversification of funding sources and the effective allocation of our liquidity. Fee income grew by nearly 5% with AUM and consortium standing out business that are gaining momentum precisely due to the complementarity nature of our conglomerate. Costs remain under control, and this involves ongoing efficiency efforts where we optimize operations while continuing to invest in what builds the future, meaning people and technology. Delinquency remained high during the quarter, particularly driven by the agricultural segment. Expected credit loss provisions saw a slight decrease in the quarter, representing our main drag on earnings. We have been actively implementing measures to improve credit and delinquency management, and I will talk about these in more details below. CET1 remains strong, standing at 11.27% in June. Credit remains our biggest revenue driver. When I talk about work, I am talking about a more resilient mix with better collateral and an improved collection process. The expanded loan portfolio was BRL 1.3 trillion in June, a year-over-year increase of 1.5%. This growth is guided by a clear focus on discipline and appropriate risk-return ratio, and the implementation of our resilience framework. In personal loans, we are striving for an increasingly balanced and sustainable portfolio composition. Payroll loans and Crédito do Trabalhador, workers' loans, show significant growth. Here I would like to highlight the greater risk mitigation in private payroll loans through the use of FGTS funds as collateral and the automatic re-engagement of customers who change jobs. The feature expected to be operational by the end of August, which will help control delinquency in this segment. In the corporate segment, I highlight transactions with settlement guarantee funds, which grew 32% year-over-year, with a share of portfolio growing from 25% to 36%. In agribusiness, we continue to focus on loan origination backed by more robust collateral. 70% of all disbursements under the 2025, 2026 harvest plan have already been secured by fiduciary sales. BRL 90 billion of this portfolio is backed by this type of collateral. In addition, we restructured our collection process a few months ago, and we are already reaping significant benefits. We have returned to a more appropriate level of loss recovery, which reached nearly BRL 2 billion in the quarter, a 51.4% increase when compared to the first quarter of the year. In 2026 alone, we have already taken legal measures to recover BRL 15.5 billion, a figure that already exceeds the total amount we handled in 2025. As part of this process, we have begun repossessing more than 130 rural properties. Foreclosure remains a strategic and selective measure as we always seek negotiation and settlement through commercial channels. In the agribusiness sector, we remain very close to farmers. At the same time, we are engaging in increasingly sophisticated loan origination. This proximity goes back a long way. We have nearly 600,000 farmer clients who have taken loans with us, of whom more than 84% have been with us for over 10 years. We finance more than 200 crops, and we are present in 93% of Brazilian municipalities. This extensive reach, combined with our in-depth knowledge of the sector and each client, is a key advantage that will help us navigate through the cycle. Looking forward, we are announcing the 2026, 2027 harvest plan, worth up to BRL 210 billion, with the same commitment and proximity to those who are dedicated to Brazil's growth. on July 15th, Provisional Measure 1376 was published, introducing credit lines to renegotiate agricultural loans from farmers who incurred losses due to weather events or market losses across two or more harvests between 2019 and 2025. Our potential portfolio eligible under the provisional measure totals up to BRL 100 billion, involving up to 113,000 customers, including both delinquent borrowers and those with performing loans that have been extended or renegotiated. The Midwest accounts for the largest share, with 40% of the potential portfolio, followed by the Southeast with 24%. Corporate agriculture accounts for two-thirds of the loans, PRONAMP for about 30%, and PRONAF program for the remainder. In terms of crops, the focus is primarily on soybeans, corn, and livestock. It is important to make it clear that loan approvals depend on the submission of appraisal reports, and we follow our credit policy. Let us begin with delinquent loans and then move on to others. Our teams are engaged in a major campaign, and new loans will become available as soon as the equalization ordinance is published, which is expected to occur in the coming days. With this initiative, we expect to return to on-time payment rates in the range of 90% in the coming months, thereby supporting the convergence of the cost of risk towards the guidance range. One of the most important strategies for BB is the enhancement of our high-value customer service model. This initiative drives diversification of revenue sources and increased business volume, supported by a comprehensive portfolio, high value-added services, and a highly specialized team. To date, 12% of our branch employees focus on high-value customers. The loan portfolio for this segment grew by 4%. Assets under management, meanwhile, grew by 12% in a segment where relationship and trust are key differentiators. Altus Liv cardholders increased their spending by 15%, and card revenue from this segment grew at twice the rate seen in other segments. We are optimizing this network with a 22% expansion of Estilo Investidor branches this quarter, bringing the bank closer to those seeking specialized advice and sophisticated investment solutions. We aim to increase our high-value customer base by 25% by 2030. By June, we have already reached one-fifth of this target with a 4.3% increase. We had already been warning about the strain on household income and the impact of a high Selic rate, especially for those with lower financial resilience. We acted in line with this assessment. In total, we renegotiated BRL 31 billion in debt renegotiation. In the Nova chance hola program alone, we exceeded BRL 12 billion, notably serving more than 440,000 individuals and 40,000 businesses. More than just renegotiating debts, we help people get back on their feet through financial education and awareness. At the same time, we continue to take advantage of new opportunities with diversification and risk mitigation. A good example is the urban mobility operation. Through BB Move Brasil, we have already reached BRL 1.4 billion in new hirings, representing a 40% increase over the June balance of the auto portfolio originated by the bank. We serve nearly 13,000 drivers in more than 1,100 municipalities, contributing to fleet renewal with a focus on sustainability. In line with our digital strategy, we have partnered with Uber to offer cashback to drivers who finance their vehicles to us based on their consistent on-time payments. We are a bank that never stops transforming itself, and I want to start with what always comes first, people. Every significant change at Banco do Brasil starts with our people, the true agents of this transformation. BB hires through competitive exams, and that is why we invest so much in developing the best talents. That is why we continuously train our teams, preparing them for an organization that is increasingly tech-driven, dynamic, and agent-based. Artificial intelligence is central to our business transformation agenda. This requires leadership and commitment. It is not about doing more with technology, but rather about using technology to unlock people's potential. It doesn't replace human presence. It fosters even greater closeness. This half year alone, we expanded our base of analytical and AI models by 28%, bringing the total to over 2,300. But the statistic I am most proud of, it isn't about machines, it is about people. It is our own employees who create the bank's AI agents. This half year, the number of agents they developed tripled, reaching nearly 15,000. When people and technology come together, the results are clear. AI in loan renegotiation generated six times more conversions, and we have already freed up nearly 1.5 million hours of work. In our digital expansion, we have achieved nearly 70% of the progress projected for 2026 in agile channels and environments. This closeness translates into customer experience. 34% of our network already provides specialized service. 100% of customers have access to human digital assistants on the BB app. We now have 35 million active customers on digital channels, and 47% of them are heavy users. It is from this closeness that the best business opportunities arise, and it is this closeness that will always set Banco do Brasil apart. The integration of physical and digital channels embodies our channel strategy. We are taking another important step with the launch of the 5.0 app, which we discussed at our BB Day, and we will launch at FEBRABAN TECH in a few weeks. It was designed based on actively listening to our customers to make the digital experience simpler, more modern, and more effective. We are launching a truly customizable app. The experience will adapt to each customer, and each one will have the freedom to organize and customize the app in the way that makes more sense for their daily life. I would like to highlight the brand new Meu BB section, which has a social media feel and creates a familiar environment for users using the same intuitive format as the apps they use every day. Among the key advances, I would like to highlight the embedded artificial intelligence conversational journey supported by an integrated assistant and performance improvements. When we talk about the strength of Banco do Brasil, we are talking about a conglomerate that goes far beyond banking. At BB Day, we showcase our galaxy. It comprises more than 80 companies, which expand our ability to serve customers. The companies in the conglomerate contribute on average 52% of our earnings. It is a distribution strength of our branches that gives scale to our company's businesses, and this presence extends beyond Brazil's borders. We operate in 84 countries, expanding the reach of our operations and connecting our customers to different markets and opportunities. In the U.S., BB America already has a real estate loan portfolio or a mortgage portfolio of over $2 billion. In the first six months of 2026, new account openings grew by 3.5%. We are also present in Japan with nearly 100,000 customers, and this serves as our hub for operations in Asia. In Europe, we are making headway in our business. In April, we launched BB Portugal's digital account. Since then, the number of accounts has grown by 12%, and 51% of investment transactions are now conducted digitally. All of that demonstrates BB's ability to combine a broad network, specialized business lines, and international reach to get closer and closer to our customers. I will conclude by returning to what really matters. A bank with Banco do Brasil's legacy doesn't survive for 270 years by chance. It endures because in times of need, it knows how to return to its basics, a skilled workforce, responsible decision-making, and hard work. That is why today's Banco do Brasil is more resilient, more disciplined, more digital, and better prepared to seize opportunities ahead. Because cycles come and go. Fundamentals remain, and it is with this compass that we move forward. Thank you very much. Thank you, Tarci. We will now start our Q&A session. The questions can be raised in Portuguese and English. I will ask each analyst to ask only one question, and according to my list, we already have 11 waiting in line. To begin, I would like to invite Erick Ito from Bradesco to address his questions. Hello, good morning, everyone. Hello, Geovanne, Tarci, Gilson. A question with regards to provisions. I understand that a good part of our expectation of improvements, and I believe there will be improvement till the end of the year. This is explained by the improvement in agribusiness. But I see that there was a worsening in the indicator, a bit contaminated by agribusiness and also with a greater availability of We also see a delay in individual loans. If you could maybe talk about PDD until the end of the year and how much you have that will improve the agro and also you have also individual loans on the credit card double pressure. If you could maybe help us understand and give a better view of what is happening, this would help us a lot. Thank you. Good morning, Erick. Thank you for your question and your presence. It is a pleasure to see you here with us. This is a dynamic. We hope that there will be a relevant improvement in the agro portfolio due to the ordinance, the 1376 ordinance. We have now available for our clients a tool that will promote this renegotiation, and we will improve the conditions for clients in general, and this will bring an impact in our individual relationship with our rural producers. These are renegotiations that we will prioritize operations with a better intern. We will also link this to collaterals and transforming also our mortgages through a lien and also a full analysis, which will bring about an improvement of our LLD in the segment of individual loans. The trade-off, when you look into this, when you look into an eligible portfolio, the renegotiates on the 1376 of BRL 100 billion, and the impact that will comply with the relationship with our personal loans, this will allow us to converge for the second half of the year within the guidance interval. And we will cover some additional need we might have with regards to our individual loans portfolio. We had already forecasted this worsening in the performance of this portfolio. As said in the last quarter, we have a component of expected losses that we have anticipated already this movement, and now what we need to deliver is this final effort of improving the environment in the agribusiness portfolio, which will bring along this reflection into our individual or personal portfolios. All these moving parts, which come from agribusiness, is above the essential needs of provisioning that will have to do in our other portfolios, which will certainly channel our guidance or the performance of our LLD within the guidance interval. Okay? Thank you. Thank you, Erick. Our next question is from Daniel Vaz from Safra. Thank you, Jana. Good morning, everyone. Good morning, Tarci. Thank you. Good morning, everyone. Maybe a follow-up to Erick's question. In the ordinance 1376, considering the size of the portfolio you wish to fit within this ordinance, you mentioned the program. We could maybe say that Banco do Brasil could have 50% of this program. It makes sense when we consider the size of the pool within the banks. But I would like to hear from you, what is the size that you expect within this program? And maybe a second part of our question would be if this will be enough for you to solve any issues and if there is any chance of having an issue with capital, because we see all the other banks in parallel. If you have maybe having an increase in equity with a movement of an insurance company that they were able to have tangible assets, and this allowed them to recover their common equity. And maybe in 2027, this could enter into an environment where we see many economists talking about a possible recession. We have also a worsening in the consumption. I would like to try to understand if only through this ordinance you would be able to say, "Well, I don't have a capital issue here. I don't have an equity issue here," because we see that there was a deterioration of those portfolios and the personal portfolios. I would like to know if this ordinance is enough considering the size of the possible issue in the future. Well, Daniel, thank you. I would start here, but it's a very broad question. This is the management for the bank in general, and maybe this is under our responsibility. Now specifically considering for this specific ordinance 1376 and considering the transparency we always have with the market, we brought here a potential public. This is exactly the public that we will perform in this ordinance. Well, I believe the public is actually broader than the one that we will focus on. But our idea here is to bring you a greater transparency. What we brought here is what would be the possible size of this pool within the agro portfolio, which is eligible in this process that is already very well designed in terms of prioritization. Bittencourt might also add to what I have to say, and we could attack this specific audience. This would be the first point. But we do not expect only an improvement in this environment, in this agribusiness environment, because of this ordinance. It will be natural that with the so-called Plano Safra or the crop plan and the uncertainties that were surrounding this issue of renegotiation, that we would revisit the rates of timely payments in around 20%. The whole set of measures that we have considered, and we have worked and tested all our hypothesis and also forecasted in our performance expectation, we believe that this is what we will execute according with the specific LLD guidance within the proposed interval. I will pass the floor to Bittencourt with regards to the issue regarding our specific clients and what is our expectation within the program, and then we will close maybe with the whole idea of our equity. Good morning, Daniel. I will start with what was raised by our friend. This ordinance will limit a certain public, and this will also help us in the support of payment for those who do not comply or not potential. Of this BRL 100 billion, we included all the 1314 ordinance. Many of these producers have contracts that go beyond the limits that are included in that ordinance. They could be included in the renegotiation in the 1376, but not all this value of BRL 100 billion will be included within this controlled rate. Part of it would be a delayed free rate within the public that we do understand that will be potentially within this ordinance and that should come to the bank because, of course, not all producers are in this process or had losses or will be able to prove their losses. Not all the producers which delayed within their timely payments will come searching for a renegotiation. Many of these contracts already have controlled rates. This is where our initial focus will be mainly on the default or delay payment producer. We have maybe 36 default payments, and this will be our main focus, followed by those who have delayed payments with free rates that will therefore fit within the percentage of losses and the credit limits established. This will be the central public we wish to go for. All of them will be included? No, our expectation is within the controlled rates, work with something of around BRL 30 billion, which already bring about a significant impact with regards to the default operations in the bank. If I could add to this, maybe talk about the default and capital growth. We have adjusted equity, as we said. For 2027, you see that some comps are considering with a recession, but we consider, of course, with slower growth, but not a recession. We also have to take into consideration that we are beginning a process of reduction of our interest rates. We already have reductions, and we're expecting yet another cut. Many economists are thinking about 13.75%. Then this whole phenomenon we are witnessing happening exactly in the worsening for personal loans, part of it is contaminated by the rural loans and this Ordinance 1376 will allow us to reduce the impact on our financial flows for the producers through this ordinance. But there was also a very specific issue, especially with the PFD, PFE calls, and therefore we held back. We had a new program of installments, automatic installment of these bills, of these payments. But we could pause this one because we saw there was an excess of leveraging, and the environment is now a bit more restrictive. We are very conservative, so to speak. We are making the necessary adjustments, and we have the lowest unemployment rate in the history of Brazil. We believe that this is a matter of time for these defaults being reduced in time. We also have government programs, which also supported us to improve financial situation of personal loans. Many of these individuals were leveraged and others that had to do with, unfortunately, the bets or the online betting systems. We believe that to 2027, since we are focusing our growth on the payroll loans and private loans, we believe that we will bring things back to the portfolio performance and to the levels we had before. You see that this is something very focused and the adjustments we made with the adjusted risk for this portfolio. Considering the other indicators, we continue with our results working very well. Our results are very positive. We have a growing margin. We have been very careful with our credit mix, but also our fee income has been growing also. We maintained our forecast of our guidance with operational efficiency. We have the best efficiency rates in the market, and we continue to support this indicator. As you already said, we reduce our losses, and we have been working in this sense. I guess everything at the end of the day will, in a more structured manner, contribute to our common equity. Daniel, at the end, first of all, we have a strategy for individuals, and we were always very clear saying that we want to leverage the portfolio to boost profitability. It came, but the risks were higher. There is no problem because we are making the necessary adjustments to channel that in more secure lines while preserving profitability, I mean risk-adjusted profitability. As FGC, we are leader again in the process in terms of settlement guarantee funds. We were engaged in the risking movements, as we mentioned to you before, but this quarter, we resume our leadership position in terms of government lines earmarked to small and midsize companies. This is work in progress. Obviously, with our LOP level, this impacts our capital, certainly. When we look at the longer term, the management team is making all the necessary measures to preserve the sustainability of the capital so that the capital is enough to support our activities and support the growth that we want to deliver. Therefore, we are making adjustments to our portfolio. We are channeling the loan loss provision numbers into the guidance. At the same time, we will then generate more capital organically that can then feed the profit. We are also taking inorganic measures. You saw that we revisited our hybrid instrument. We were supposed to return BRL 1 billion in July. We renegotiated; we returned BRL 100 million. The schedule is expanded with one big installment at the end of 2029. If need be, we will certainly take other measures. For the coming years, we have this very well-designed curve with all the measures in place t o help us maintain a very robust and sustainable capital margin, so much so that we can extract more business out of the organization. Thank you very much. This is a very encompassing answer. Our next question comes from Renato Meloni with Autonomous. Renato, go ahead. Good morning. Thank you for taking my question. I would like to continue that conversation on common equity. Your organic generation capacity is limited. I would just like to understand what timeline you anticipate a recovery, even though you have enough common equity. It does not accommodate a deterioration of the scenario. Among all of the other inorganic initiatives to generate capital, what are you looking at? Like dividend reduction, divestment, or anything else that is on the table right now. Renato, please explain to me why you say that it's not accommodating, because in our estimates, we will continue to be in the range of 11% CET1. What are you saying that my capital generation does not accommodate that? I know that we can buy the volume of provisions, but we have some organic capital gain. We are still at the level of minimum payout by law. I just want to understand your concern. Where do you see the problem? According to my estimates, I believe that the bank will reach the guidance this year, assuming an improvement next year. The CET1 might not change that much. I've heard comments from peers and from other economists that say that there is a chance of further deterioration of the economy next year, and this will lead to higher NPLs. Because you need a continuous improvement so that your CET1 will remain at the current level. If this does not occur, capital may go down, common equity should go down. In terms of agribusiness, some people are also referring to the El Niño risks throughout the rest of the year, and this could be another relevant factor. Well, thank you for giving me a better content. In our base scenario, our view is slightly different. As I said before, we are assuming a 1% GDP growth next year. About the El Niño issue, I think Gilson can give you more details about that. But in our view, we will continue to deliver organic growth with improvements as Provisional Measure 1376 allows us to reduce the average risk of that portfolio. Everybody knows that what is, in fact, hurting the CET is the agribusiness portfolio. At the same time, we are tractioning other businesses from our conglomerate to help cushion that. Considering that in provisions, we have 37 billion BRL, and at the same time, we are giving back 7 billion BRL in profit. I know that we wanted to deliver more to our investors. Our ROE is still low, but I believe that we will go through this meteor that has hit us. It's part of our structure to generate results. But eventually, if we encounter a more pessimistic scenario because of El Niño or because of the worsening in the Brazilian economy, increase in unemployment, and this would be a more negative outlook starting in 2027. I can remind you that Banco do Brasil has a very bold asset structure that allows us to see where we can get further improvements, be it through RWA improvements or generating results that can probably add more inorganic growth to support our capital structure and preserve our capital structure. It's important also to say that we are now concluding all of the processes related to the adjustment to this new measure. Part of this capital was used to comply with prudential adjustments. It's the regulating body demanding from the bank. So, it takes some time for us to get everything in place. If it were not for the agribusiness portfolio, maybe we would be in a totally different situation, but everything is according to plan, and we know what variables to move to improve that CET1 going forward. But for 2027, this is not the reading we have. We are not anticipating any capital constraint going forward towards 2027. Great. Thank you. Thank you, Renato. Our next question is from Bernardo Guttmann with XP. Bernardo, good morning. Well, thank you for taking my question. My question is about private payroll loans and also individuals' guidance. The individual portfolio was up about 4% in the last 12 months when vis-a-vis the guidance that was in the range of 6% to 10%. Private payroll loans, which was an important driver, picked up and expanded in the quarter. At the same time, the delinquency in that same line was up. Was there any adjustment in terms of your risk appetite for this portfolio? What sustains the maintenance of the individual's portfolio guidance with this new level? Thank you. In the case of private payroll loans, we grew, and that was a very positive opportunity for the bank because we have extended experience in public payroll loans. Throughout the year, we are developing and there are many new measures that will certainly contribute to the reduction of this NPL. Once the NPL is down, we will be able to grow again. I would say then that the two main elements are now being deployed. One was just introduced now and allowing us to link FGTS as a collateral. This started in June. With that, we will be able to have a more effective guarantee, especially in cases where there are some firings or dismissals. Then in that case, the borrower will cease to pay, both in terms of regular contributions to FGTS and also related to job termination penalties. Maybe one of the most important measure is the possibility to move that to the new job, meaning portability. This delinquency, in most cases, is not due to the fact that the employee lost the job and it is still unemployed. Unemployment is low, but the turnover is very high. So, when an individual leaves the old job and moves to the new job, the debt is not carried over. There is some time until that happens. It takes some time. So, starting at the end of this month, the process will be automatic. Let's say I leave my job because I was either fired or I chose to leave. The discount will be calculated within the margin. Then the new loan will be debited to the new account. With this restructuring, we will be able to get things at an acceptable level, considering that turnover. Then we will be able to deliver up to the guidance, while at the same time we will grow in this portfolio that in our view is very positive to the bank. If you allow me to add something else. We grew over 127% in that line, starting from scratch. Now we are number 2. Number 1 is Itaú. We have BRL 15 million in our balance. So, growth rates, it's just naturally come down. But as I said, our focus will still remain payroll loans, both public and private. What Gilson said relates pretty much to the Dataprev system that is currently being adjusted. There was a spike in delinquency. Sometimes the borrower cannot afford to pay for the installments. But in this case, the situation is different because once the payroll loan migrates to the new employer, the payments will be resumed normally. There are also other credit lines like mortgage-secured loans. Mortgage-secured loans will be our focus in the second half of the year. Also, auto finance. As I said, we grew almost 50% in terms of our disbursement in our portfolio in July alone with the new lines of BB Move Brasil. I think this process will continue for another 60 days. The auto portfolio may even reach twice the volume we had in the past. These are all new opportunities that allow us to be more confident that we will deliver to expectations in terms of individual loans. More secured lines and less risky lines. This corroborates to the improvement in that portfolio. That is very clear. Thank you very much. Thank you, Bernardo. Now we will follow for the next question. We have Tito Labarta from Goldman Sachs. Tito, good morning. Hi, Jana. Good morning, everyone. Thank you for the call and taking my questions. Following up a bit on, I guess, provision levels and potential recovery. You can see a scenario where you reach the top end of the provision guidance with modestly lower provisions in the second half of the year. A couple questions on that right now. Thanks for disclosing the Desenrola renegotiations. Was there any benefit on the provision this quarter from Desenrola, and was there any offsets to the bottom line on that? Thinking about the recovery into next year, can provisions continue to decline in 2027, just given some of the concerns on the macro level, and individual NPLs going up. Certainly, some recovery from where you are today, but just to think about 2027 is also going to be a challenging year, at least from a macro perspective. We think ROE, we are running into high single digits. Any visibility on how quickly that can improve given some of the concerns about the macro for 2027? Thank you. Thanks for the question, Tito. I think the biggest challenge we have for this year is effectively around the Provisional Measure 1376. It will depend on how many clients join this restructuring program. This is our biggest challenge, and we will look forward on achieving the volumes we want to restructure. Once we achieve that, we believe that for 2027 on, we will be able to account a lower cost of risk. We know that our cost of risk is above 5% is on average due to this increasing default in the Agri book. As long as we focus on growing less riskier loans in the individual's book, we are able to restructure the rural portfolio under this provisional measure. We will seek for 2027 on to reduce the cost of risk, sorry, below the five-ish level. We would be aiming at a 3.5 average cost of risk for the full portfolio. On average, our peers, they are working on that level of cost of risk. This is something that it will depend on how 2027 unfolds. Basically, that is what is in our mind regarding reducing other risk of the whole loan portfolio. Great. Thanks, Geovanne. Can I ask just one quick follow-up on that? Would that come with a lower coverage ratio? That has been one of the concerns, right? We have seen coverage come down a little bit. Do you need to consume a little bit more coverage to get to those levels, or do you think coverage can increase next year? No, we do not work with the assumption of reducing coverage ratio. We will try to balance that in order to guarantee a sound coverage for the risk of the loan book. Ultimately, we believe that as long as we perform well on restructuring the program under this provisional measure, we will be able to bring a normal performance for the whole loan book, and this will become clear by the end of this year. Great. Thanks so much. Sorry, just the Desenrola impact, any color on that? Sorry, I couldn't. The Desenrola impact on provisions. In terms of impact on provisions, Tito, it's not material. Yeah. Neither in delinquency as well. It's a nice program, Tito, for our clients and the development of our individual loans portfolio. But in terms of provision, there's no impact. Okay, great. Thank you. Thank you. Our next question comes from Gustavo Schroden from Citi. Good morning. Good morning, Jana. Good morning, everyone. Thank you so much for the opportunity. I have two follow-ups. First, to help us understand how the provisional measure will help us effectively deal with the LLP for the second quarter, since you seem to be very confident. We have maybe BRL 100 billion in terms of adjustable amount as you have presented, and Gilson also stated that of this BRL 100 billion, around BRL 30 billion, if I understood correctly, would be renegotiated. How can we consider the whole mechanics of this BRL 30 billion going through the bottom line and the earnings and reducing our LLP for the second quarter? Is it will be a reversion of provisions? Is it a reduction of credit indicators that the bank would not need to do in terms of the provision that it is currently doing? This is important because we could have a better understanding in order to maintain the confidence in the guidance. I guess we are talking about big figures here, and it will be maybe worthwhile go into detail. Another issue that I would like more explanation; we have had many questions in terms of increase of the NPLs for credit cards. We had an NPL of 90 days of 7.1% to 14.6% for the quarter. That is a large increase. I do understand that a part of this is related to the rural loans. Could you maybe give me a breakdown of this increase? How much is it a worsening, a mass worsening that you actually refer to, and how much is related to rural loans? If in this recovery plan, through the Provisional Measure 1376, if the rural part that is included in the credit card will also be included in the renegotiation efforts. This is a very broad question, Gustavo. The revision will happen in two ways. First is with an expectation of reducing the NPLs that we will be able to see in this next six months, as we presented in the results for the first quarter. Month by month in 2026, we will increase the numbers of financings that are due, that were already hired under the new resilience matrix. We still have a high percentage that is already contracted. However, you can see in June, we had 31% already under the new resilience matrix. In August, we have 35%, and this number will reach 57% as of December. Our first expectation is that under this new matrix, we will already have a reduction of our NPLs, of the normal NPLs of our operations. Second, the fact that we have this MP or provisional measure to see what will be included or not, will already make it clear for the whole set of farmers, what are those that could be included in the renegotiation and which are not included, and which ones they will have to pay. The provisional measure will not include any type of resource of the individual loans. What is the logic? Let us say a farmer who is owing rural credit and also on a credit card, if they are able to regularize the payments, we will also try to renegotiate the damage on the card, because they cannot remain delinquent because they will not have access to new operations, and they will not be able to participate in the Plano Safra or the crop plan. One thing will entail the other. As I said before, we are beginning a contact. We already had a contact even before we started this operation, which we hope the ordinance to actually happen between today and tomorrow regarding this provisional measure. At least this is our expectation. As soon or even before we start operating, we are already getting in touch more than 31,000 clients that could comply or be eligible for the MP, and a great part of these are the delinquents. As I bring these delinquent clients, especially the short-term delinquency and also the delinquency that happened since the beginning of last year, which has been impacting our balance sheet, our results, I believe that through this, I will be able to revert a good part of this. Not everything, because the operation is ongoing, and we will have to be able to do some reversion, and we will continue with a collateral or maybe some type of down payment. I can show to the regulatory agency, operation by operation, that that client does wish to stabilize that operation or become due. This reversion will not be total, but it will support among the BRL 31 billion, of which BRL 6 billion we have in terms of NPLs, if a good part of this is regularized, we will be able to revert part of the provision. These are different actions taking place at the same time. I would like to reinforce one piece here, Gustavo, with regards to agribusiness or the agro sector. When we look at the last maybe three to four crops, we see an increase in production, and we see an increase in productivity. This is something that you cannot have an increase in productivity and planted area if you do not use inputs, and to have inputs, you need resources. Even though we have all these difficulties in the NPLs, our agribusiness is resilient. If we look at the other articles published, we see how much the agro sector has capitalized, especially when prices were good. What we do have, and this is something we have been saying since Provisional Measure 1314, is a lack of liquidity, because part of that capital was the producer had to. The farmer had to seek greater financing at a higher interest. We're talking about the whole set of farmers. It's not that they are lacking capital. They don't have liquidity. Our expectation is that first, with Provisional Measure 1314, even though there wasn't a deadline, there were free interest rates. But now with Provisional Measure 1376, we have a lower rate. We're talking about rates of PRONAF that will go from 5% to 12% for the major producers or major farmers. We are able to have an improvement in our horizon in terms of the payment ability, not only with regards to time, maybe 8 to 10 years, but also the cost of the resources. Through this, we hope that these producers, at least the ones that wish to renegotiate and to have access to credit and continue and produce it, not only with Banco do Brasil, with the whole set of financial institutions, will try to regularize their situation. We will continue with this growth effect in terms of production areas. Brazil, of course, has the potential, it has been showing its capacity. We will have maybe focus issues, yes, that might happen. But our expectation in the agribusiness, considering the whole cycle, is a recovery. Some will recover faster, others a little bit slower. However, we do believe that this business, the rural areas, will continue with a portfolio with better collaterals, better guarantees, but growing and advancing in this chain. This is essential for our GDP. Adding to this, to help you model what is happening, first, our execution capacity. I guess, 13/14 is not even one year old. It shows the whole ability of execution that Banco do Brasil has in order to present all these renegotiations and to put them into practice. Second, our strategy. Our strategy is set in such a manner that we will improve our credit capacity for the producers. There will be down payments. These will be operations that will have a reinforcement of the collateral so that we are able to migrate from the different stages of the loans. This is when we see the positive effect coming into play. We see a reversion in provisions. We will be able to accrue these operations. For most of these operations, we are not accruing for them. I will renegotiate with a lower rate, and I also have the accrual that today I am not able to proceed in my profitability, in my earnings. This will create a positive effect that will be part of our LLP converging into our guidance and consequently in our earnings. At the end of the day, this is a topic that certainly we have discussed with you, with the market in general, and I have seen all the reports that you have disclosed from yesterday to today. In our common equity, we know that today we have less DTA, and therefore I will have a smaller consumption of our equity. Just to give you an idea, for every BRL 1 billion we renegotiate, we have an expectation that this will be something around BRL 150 million and BRL 200 million through our final results, our bottom line. This is considering both our NII in terms of the accrual, but also reduction of our credit cost. Yes, correct. This is our global account, and we might maybe help you reach these figures in detail. Okay? Okay. Thank you very much. Thank you. Moving on. I would like to invite Yuri Fernandes with J.P. Morgan. Thank you. Jana, Geovanne, Prince, and Tarciana. Good morning, all of you. Sorry to go back to that question, but my understanding is that if you have a default payment or if you get further guarantees, maybe we could see some provision reversal. Basically, that was my question. I used to understand that you needed payment not only of the guarantee or the collateral, but that could also help. My other question is about capital. When we look at common equity, and Geovanne mentioned that in the podcast, there was something coming from Dataprev. Could you explain to me why this happened just now or whether we should see any impact coming to your shareholders' equity? Okay. Can you explain the topic on the reversal, and then I will do the rest? Okay, yes. Renegotiations and strategy is in place. It is not already out, but it will start with the down payment, and this complies with Resolution 4966, and I understand that this is proprietary. In addition to that, we also add additional collateral. So, it is a combination of all that that may generate the migration to other stages and as a consequence, the reversion of provisions with the additional fact that I can also go back to accruing the interest. Yuri, as a reminder, when we had the MP 1314, we were mainly referring to transactions or operations that were not delinquent. So, the LLP dynamic is a bit different from that Prince just mentioned. Today, we are focusing mainly on those delinquent transactions. Most of them find themselves on stage 3, but both the collateral and then the down payment improves that farmer's risk profile and also expected losses. There are improvements in many fronts, and all of that dialogues with this potential time reversal. Just to give you a new perspective, and now I turn it over to Geovanne to talk about capital and the effect of the rate. In fact, Yuri, you all know that we have other house job benefits that we have to recognize in our balances and drew some expectations. When you talk about pension funds and healthcare plans, we have assets that can back up these plans. In the more specific case of CASSI is our healthcare plan. This healthcare program does not have guarantee assets, and the reason for the adjustment was a one-off thing. Why do I say that? Because historically, the bank had been conducting all the calculations and bringing to present value, discounting at a rate where we came up with a basket of currencies, given the long duration of that liability. All of that had been duly calculated and also agreed with the Central Bank, the regulating body. This has been done some time ago. But now, under this new management, the Central Bank has a different understanding. The Central Bank believes that we should discount everything based on NTN-B from five years ago. So, there was a whole new conversation and technical studies back and forth, and we try to explain, and we even asked for the delayed implementation of that discount rate starting in January of next year, given the current moment when we are trying to recover from agribusiness losses. But we have to comply with the regulator, just as I mentioned during our podcast. Their view is that we should not do it now, and so that is what we did. Therefore, the 18 percentage points that was down from our BIS ratio is part of that conversation that started about two years ago. If you go to the explanatory note number 28, you will see that our discount rate was around nine point something and now is around 8.5. For all of our post-job benefits and for those that have guaranteed assets, we do that reconciliation, and then when we calculate capital or the common equity on note number 30, we make the adjustment. Basically, the adjustment you mentioned stems from our healthcare program that does not have that backing asset. Did I answer your question? Yes. That was very clear, Geovanne. Thank you. Thank you, Geovanne. Our next question is from Eduardo Nishio with Genial. Good morning. Good morning, everyone. Good morning, Janaína, Tarciana, Prince, Gilson, Geovanne. I just have another follow-up on two points that were previously mentioned, but I just want some more color. First, credit card delinquency, which almost doubled. There was an improvement trend, but it went from 7% to 14.6% in this last quarter. Could you please explain what happened, how come that increase was so steep and whether it is concentrated in some specific profile? You talked about agribusiness and its profile, but I think you did not specify it during your comments. Also, if you can give me some more light about the trajectory of that NPL, whether the peak has been reached in the second quarter or whether you still see any worsening of that portfolio. My other follow-up is about El Niño. You just mentioned it, but you did not elaborate further in terms of what are your projections for El Niño. According to experts, they are saying that the impact will be stronger in 2026, 2027. I just want to know whether you were expecting a heavier impact for next year in 2027, and whether in your credit models, you already embedded that in that credit guidance, if you already included your expectations for the agribusiness sector. Nishio. In fact, I will talk about credit cards, and then my colleagues can talk about El Niño. We have been telling you about the contamination of credit cards, especially in the individuals' portfolio, especially coming from farmers. What really caused that spike is that we were paying attention to household debt increase. There was also some one-off event in our case. Our strategy to face this lack of value in the rural side should be individuals' portfolio. Our focus has been on payroll loans, but we also adopted other strategies for the credit card segment. In the high-end segments, which would be the Altus Liv, where we increased billing BRL 127 million. There was also a very one-off effect for D and E income bracket clients. We also included automatic installment payments for these statements. In the first quarter, we noticed that clients were engaging in automatic installment payments. There was a flag for this segment, D and E of the population. We took measures saying that now in order to pay installments, you have to come up with a down payment, and therefore we had to make adjustments in customers that in January, February and March engaged in automatic installment payments without any down payment. Risk was aggravated in those cases. We put them in our NPL portfolio. Basically, this is the effect. It is a very one-off effect. This is certainly delinquency, because if they were just paying installments without paying, they were not paying, they were delinquent. Therefore, we want to go back to what we had before. We are no longer allowing them to pay installments automatically, so they have to start paying a down payment first. We said, "Okay, this didn't work." We wanted a change in mix, focusing more on individuals, but in the credit card line in particular, we put a stop, especially for D and E income brackets of the population. But the main factor was because of this automatic payment. In July, we are already seeing some normalization in this line. This is the explanation issue. Eduardo, yes, we are very concerned and we are closely monitoring the effects of El Niño. We have 280 experts scattered throughout the country analyzing in real time what is happening in the field and also drawing up expectations so that we can provide more structured loans. And we are including more insurance, like Proagro or regular insurance. We look at drought tendencies, especially we are now involved in irrigation programs. There are some government programs, Proirriga and other programs that contribute, and also no-till planting that reduces losses when there is a flood. But one important aspect of El Niño, when we look at the track record of the last 20 years, whenever we had El Niño, the effective loss in yield in the country was not very large. It is big when we look at a particular region or when you look at a certain crop at a certain moment. But when you look at the entire agribusiness and livestock production, what losses you have in one region, maybe it's mitigated by bigger yields in other areas. We are closely monitoring that, but we have to continue funding the production, because if we stop that, there will be an even greater impact in income generation. But certainly, I can tell you that we are being much more careful now. We are looking more at the ongoing trends for all of the different regions, and we have our experts monitoring that very closely so as to minimize the impact in our loans. Gilson, we are not only the ones doing that, because farmers are professionals, and they are also doing things to mitigate the effects of El Niño. In the Midwest region of Brazil, the forecast is that will be water scarcity during the El Niño period, and farmers are receiving advice from Embrapa, from the bank, and they are getting prepared to anticipate their planting season and anticipating harvest as well. When we look to the northeast, with El Niño, they might suffer from aggravated drought, and they may anticipate the off-season period, the safrinha period. Not only the bank is being prepared, anticipating and getting prepared to face possible issues, but farmers are also getting prepared. When we look at the south of the country, the problem is the opposite, because they will have more rainfall. So, that's the trend. We know that this has happened in the past, so the trend is for greater rainfall during this period. These growers are also getting prepared, being very mindful of the planting windows and harvesting windows and also being very choosy in terms of what crops they will plant. Therefore, this involves preparation on both sides. This is also a moment, not only because of El Niño, but when we notice that the margins of several agribusiness and livestock growers are different. It is very crucial that growers work based on a lot of planning. They have to economically analyze what acreage has the lowest cost. Where should I invest more or less? If I have a lower margin, where should I plant this or that? El Niño aggravates this responsibility to plan. If this year I will have more rain or less rain, should I plant the safrinha crop or maybe a winter crop, or how much I will plant? What are the mitigating factors that growers are looking at to reduce their risk? Tarciana said it well. It is not just an exclusive action on the part of the funder, but this involves the entire chain that works in the agribusiness sector. Then we take all of these assumptions, Nishio, and we feed our credit engine. In terms of 2026, this is already embedded in our LLP guidance. For 2027, this is also part of our preparation process in terms of credit granting and certainly the impacts are part of our appetite. With all of the projected impacts, we adjust the appetite to instigate this discipline in growers. As a consequence, all of the allocated capital should return to us, and then our loan loss provision will be lower for 2027. Everything is in place. I am sure that 2026 is already contemplated in our guidance. 2027 is already engaged in the concession model or the loan granting model, and this will help us make projections vis-a-vis the performance of the day-to-day operations. For the 2027, 2028 season, we will look at loan loss provisions with a three-year horizon. Thank you. Thank you very much. Thank you, Nishio. Moving forward, Mario Pierry from Bank of America. Hello, Mario. Good morning, everyone. Good morning, Mario. Thank you for the opportunity of addressing questions. I would like to focus on the net earnings. You maintain the guidance. I know that in the last quarter, you had a downward revision, and maybe you didn't want to do that same review. But when we look at the earnings for the first quarter, BRL 7.3 billion with a fiscal benefit of BRL 1.4 billion, it will be maybe difficult for us to reach the year's guidance. I'd like to better understand what do you believe would be adequate for the quarter, and also what are you expecting for the third quarter if it also depends on the Provisional Measure 1376? But we are already halfway through August, and the execution hasn't even started. What are the benefits for these provisional measures? If they will maybe have a greater importance for 2027, therefore, your ability to deliver the guidance for this year maybe will be later on for 2027. Thank you very much for your question. This was a topic that we internally discussed, and we do believe in our ability, especially if we consider how we edited the 1314 Provisional Measure. We had as a name to renegotiate 12 and then we decided that maybe 20 would be ideal, and we restructured more than 30. Of course, the focus there was to recompose our equity because FGO, that first plan, was already ending, and we needed in some way to allow this reinforcement or else, yes, we would be in the scenario that Meloni presented in terms of more critical equity situation. However, the whole issue that I cannot say exactly what we will be able to execute, because it of course depends on the adherence and compliance of our clients. We know that basically the second quarter was more of a moral risk. The farmers, the producers, were all waiting for the discussions that were happening within our Congress in terms of a new bill for restructuring and these discussions were extended and the government decided to issue this Provisional Measure. We are just waiting for specific negotiations and we believe that we will have maybe in August and September to expedite this process. We are now just waiting for the clients to adhere. We decided we are first going to see how we are going to execute the whole plan. If we do as well as we did for the 1314 Provisional Measure, and we already have this history, it wouldn't be necessary to make this adjustment now. As Prince also said, we also have an important part of this portfolio that today stopped accruing interest and we will go back to the margin. The central will go back to our margin. This will have a beneficial effect of more earnings. Therefore, in terms of also rates and taxes, given the volume of provisions, we have these collapses, and this is the point that we are already taking action to deal with, and the rate will continue positive due to the scenario that we are living. But this guidance is more for the lower end effectively, and the same way that the provision guidance is on the higher margin, around 70. This is how we are working, and we will do our best so as not to make the guidance adjustments. This is something we will talk about when we think about the results of the third quarter. But I would like to remind you that this, it's like a guidance. This is our compass. It's already our commitment in which we wish to reach, and this is important for us to also guide our network. This is what we are working with and what we want to deliver to you. So that provision on the higher end, profit in the lower end. But there is a risk maybe effectively if we go above, yes, but in the worst-case scenario, the deviation of maybe 5% to 6%. It's still early to make this assumption, but we will maintain this guidance, and we will do our best to deliver this. Mario, also in terms of our dynamics, as you said, we are already halfway through August, but we might be able to feel the impact of these measures on the fourth quarter. The third quarter will also be subjected to this follow-through, and we will see a greater reduction on the fourth quarter. Thank you very much. Okay. Thank you. Now we will follow the next question. It is from Henrique Navarro from Santander. Good morning, everyone. Good morning to all of you. Good morning. Hi, Henrique. I guess there are different technical points that my colleagues have already covered, so my question will be more on a conceptual basis. If we consider the second quarter, there was a worsening in different segments in terms of NPLs or delinquency, even though this worsening has to do to the coverage index dropping. We do not see changes in stages that are worsening. I believe this is based on the Banco do Brasil's expectation that actually the provisions that will be necessary for the second quarter will be smaller, that things will improve, that is. Much of this improvement is based on the provisional measures that will improve the receivables. My question is as follows: If we were to analyze this provisional measure, it will not be considered as a subsequent event to the second quarter because it was published on June 15th and maybe 1 month later, it still has not actually happened. There is no yet tangible impact that we can truly consider as a structural improvement because of that provisional measure. We are not there yet. There are also worsenings in other segments that are not related to the agro, and you very well explained this, the whole issue of contamination, that agro has contaminated the portfolios, and that improvement agro will also bring about a general improvement. My question is, given what we see today, and according to a more conservative accounting idea, would not be the correct thing to do to actually recognize, acknowledge this worsening, and therefore make a provision to consider this impact and having a positive impact in the future, everything, of course, is still conceptual, but might happen a certain way, having this positive impact in the future, maybe do a reversion of provision. This is more a conceptual question in terms of an accounting principle of being more conservative, and what was the decision that guided you not to do that will consider all the worsening we see in NPLs. That is it. That is my question. Thank you. Well, Navarro. I guess here we have more of a timely matter that might be bringing you to that conclusion. There is no provision. That was not done. Quite the contrary. What we said is that for the first quarter, we did have a specific case of a portfolio for outstanding companies, and we anticipated, based on the expected losses, that were already an indication of a worsening of our individual portfolio for the second quarter. If we were to add the quarters, you will see that the new NPL is duly covered, including in the agribusiness. We have a coverage that is above what we had in terms of the formation of the new NPL. The coverage exists exactly to give us the ability to deal with adverse moments such as the ones we are now dealing with, without having the need of generating any type of volatility in our statements. All the losses are duly acknowledged. The models are adequately calibrated, and the reduction in the coverage of the new NPL, specifically in the individual portfolio, already happened because we already acknowledged it in the first quarter. We have a step forward and not backwards. Whatever results of the Provisional Measure is something that we are dealing with within our guidance. This is within our prospective modeling, depending on our performance. The performance is what we have already proven. If you look at 13, 14, we had BRL 38 billion in renegotiation in four months. Therefore, we have the ability of allocating these renegotiations in these four or three and a half months that remain in 2026. But in no way this is applied in any kind of reversion or changes in our modeling. This is included in the prospective balance to be accounted for in terms of provision, with an impact that will be exclusively on the guidance. There is no interference in our daily operations in terms of provisioning, and even less so, we did not revert anything as a future expectation of having future earnings or results. What did happen is we identified proactively the worsening of this portfolio, and we did the adequate provisioning during the first quarter. From this point forward, this is the way that you will see things happening. Where we might see a change is what already referred to in the previous questions, which is the actual execution, realization of MP 1376, according to the models that we are establishing, where we will privilege down payments, collaterals, and the full resolution of the payment ability of the producers or farmers. This is subject to an assessment process. Let's see, this producer has recovered their payment ability, and then I will do the allocation in the different stages, and consequently, with an offset of a provision or not, I will go back to the accrual end result. This is a process that will be very serious, and we already have all the metrics ready to go. From that, we will have the execution strategy as a result. We wouldn't talk about a subsequent event or anything of that sort because we did not acknowledge any type of benefit. We did not account for any kind of egg before the egg is actually laid. Thank you very much. Thank you. Good morning, everyone. Thank you, Janaína. The question is now on the corporate portfolio. We saw some portfolio growth, mostly concentrated in the government. The first part of the question is: How do you see the evolution of this corporate portfolio? And as part of that, we also have the release of the over 90 NPL, which was up a bit, but we do not know exactly what led to that, whether it was large corporate or SMEs. So, I would like your help to understand how this SME portfolio is performing with and without the grace period given by the government. And how do you expect that evolving further, and what about NPL and provision? Pedro, it is always a pleasure to talk to you. Thank you for the question. First, we do not see any deterioration in the large corporate segment. So, this segment is performing well in the risk-return ratio. And in terms of the increase in NPL, is that we saw some reduction in the balance volume with large corporate. This comes from a process of maximizing risk-adjusted returns, meaning that we are channeling these large tickets to capital markets, generating fees, and thus consuming less capital. This is part of our strategy. So, what was different vis-a-vis our projections? We expected to see a stronger engine from the capital markets this half year, and even in the third quarter, anticipating that a bit due to the election year. But as the media has already released, the market performed below expectations. So, risk is in place, and the result stems from this process of capital allocation and profitability. Delinquency or NPL in very small and small and mid-size companies, we were already moving towards the process of accommodating risk, and we have been telling you about that since the beginning of 2025. What changed? We understood, and we also had to sacrifice part of that portfolio, even in government lines. So, we made a change in the profile. We had 30% of the portfolio backed by government lines, and now we have 40% of this portfolio secured by settlement guarantee funds. So, FGI and FGO in the second half of the year, we are now leaders in disbursements in both lines, FGI and FGO, so that we can conclude this accommodation process of the risk. So, where do we see growth in delinquency? At the top of micro and small mid-size companies and in the low middle. So, companies that gross about BRL 50 million and BRL 200 million. They are struggling a lot because of the macro landscape and the level of in court reorganization hit a record in the first half, and that is where most of this increase in delinquency in the corporate portfolio is found when you compare first and second quarters. We are not expecting any additional surprises because now we see a process of monetary flexibilization. And we are working closely with these clients, offering liability management opportunities to allow us to ensure profitability while at the same time we mitigate the risk, closing that equation of adequate risk-adjusted return. So large and corporate. Constant management, on a case-by-case basis, always respecting the best risk-return equation. In the middle segment, we are closely monitoring that to stabilize the risk, which is a bit higher now. I think the entire economic structure will help and small and very small companies, the focus is on the government programs. I would just like to add one more point. Last half year, there was a resolution of a major wholesale client. That's why from December to March, we noticed a steep reduction and there was like a zero effect on expected losses. There was a balance between provisions and discount. That's why the indicator was down last half year. Now we are seeing things in a more normal trend. Thank you. Thank you, Jana. Now, moving to the end of our live streaming session, I would like to call Carlos Gomez-Lopez. Hello, and good to see you, and thank you for your generosity with your time and also always for your transparency in your numbers. I have a question about the adjustment of assumptions for CASSI. It's a very large impact; I calculate about BRL 13 billion gross. Is there anything else that you have to negotiate with the authorities, that might have something of this order of magnitude in the future, something we should know about? Do you need to adjust this, in the future? Finally, is this directly impacting capital or there is any particular dispensation regarding this adjustment? One more thing on capital. Can you give us the capital impact of Provisional Measure 1314 as of the second quarter? Thank you. Thank you, Carlos. Basically, it was just the adjustment of the discount rate in order to bring some value of this liability. The Central Bank required us to adjust the rate we were using. Instead of 9.70-something, we're now using 8.5. That's it. It should run, close to the NTN-B from now on. You should monitor that, okay? It has to be adjusted every six months. Yeah. The window of change is at every six months. Correct. The impact is directly in the equity, okay? Yep. On the impact from MP 1314, we had roughly 100 basis points in capital, considering the two quarters where we have disbursed the operations. So close to 100 basis points here in positive effect in CET1. Yeah, but not in the- Not now. Not in the second quarter, Carlos, only in the first quarter, as we mentioned in the previous call. Previous call. Correct me if I am wrong, initially in December, it was 144 basis points, if I recall correctly? Yes. Total was BRL 140. So began in December and ended in the first quarter. Thank you. This concludes our Q&A session. Thank you all very much, and I wish you all a very good evening.