The Brazilian Chamber of Deputies is currently reviewing Bill 353/2016, which would suspend Decree No. 8,731/2016. Decree No. 8,731, issued 2 May 2016 ({News-2016-05-04/A/2- previous coverage}), increased the financial transactions tax (IOF) on purchases of foreign currencies and ended the zero-rating for repurchase agreements between financial institutions and their affiliates.