Regulatory Alerts2026-05-05 | Instrução Normativa BCB 734Normative Instruction BCB No. 734 — Amending Cosif Accounting Standards
The Central Bank of Brazil issued Normative Instruction No. 734 to amend the Cosif accounting standards by introducing new account codes for stablecoins, virtual assets, and sustainability assets. The regulation establishes specific accounting treatments for intermediated settlement and clearing operations, including detailed provisions for credit risk losses and fair value hierarchies. It also updates existing accounts to reflect changes in the classification of financial instruments and removes obsolete sustainability asset categories.
Cosif Amendments
NORMATIVE INSTRUCTION BCB NO. 734, OF MAY 5, 2026
Amends Normative Instructions BCB Nos. 426, 428, 429, 430, 431, 432 and 433, all dated December 1, 2023, which define accounting items of the account list of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif).
The Head of the Financial System Regulation Department (Denor), using the authority conferred by art. 23, item I, letter "a", of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, based on arts. 12 of CMN Resolution No. 4,858, of October 23, 2020, and 10 of Resolution BCB No. 92, of May 6, 2021,
R E S O L V E S:
Art. 1º The following accounting item is included in Annex I of Normative Instruction BCB No. 426, of December 1, 2023, published in the Official Gazette of the Union on December 14, 2023, observing the order of the "Account Code" column:
Account Code
Account Name
Estban
Function
1.1.9.20.00.00-3
Stablecoins
112
Register virtual assets backed by reserve assets created with the purpose of maintaining their value linked to the value of a reference fiat currency that meet the definition of financial asset, according to current regulation.
Art. 2º The following accounting items are included in Annex VIII of Normative Instruction BCB No. 426, of 2023, observing the order of the "Account Code" column:
Account Code
Account Name
Estban
Function
1.8.4.11.00.00-3
REGISTERING AND CLEARING BOXES - INTERMEDIATED
172
Register the values related to operations carried out on stock exchanges, for own and clients' accounts, as well as the corresponding settlements, through an authorized institution acting as a clearing member. This account must contain the following internal use sub-items: I - operation registration fees, which are intended exclusively for the registration of ANA fees, futures market operations, forward, options and other fees; II - other operations, which is intended for the registration of buyback differences, fees, representations and other values debited or credited by the registering and clearing boxes; III - incentivized fund auctions, which is intended for the registration of the broker's liabilities towards the registering and clearing boxes for the purchase of shares in the special auctions of incentivized investment funds; IV - third-party futures market profits to be received, which is intended for the registration of profits resulting from covered sales and early closure of third-party futures market positions, retained on stock exchanges; and V - own futures market profits to be received, which is intended for the registration of profits resulting from covered sales and early closure of own futures market positions, retained on stock exchanges.
1.8.4.11.10.00-0
Own Operations
1.8.4.11.15.00-5
Client Operations
1.8.4.31.00.00-1
RIGHTS AGAINST CLIENTS
172
Register the amounts receivable from clients whose operations were not honored by the institution within the settlement window of the stock exchange and commodities and futures exchanges.
1.8.4.41.00.00-0
OPERATIONS WITH FINANCIAL ASSETS AND COMMODITIES TO BE SETTLED - INTERMEDIATED
172
Register the values related to operations carried out with commodities and financial assets on commodities and futures exchanges, for own and clients' accounts, as well as the corresponding settlements, through an authorized institution acting as a clearing member.
1.8.4.41.10.00-7
Own Operations
1.8.4.41.15.00-2
Client Operations
1.8.9.40.00.00-2
(-) PROVISION FOR CREDIT LOSS - TRADING AND INTERMEDIATION OF VALUES
174
Register the provision related to losses arising from credit risk in trading and intermediation of values operations.
1.8.9.40.10.00-9
(-) Provision for Credit Loss of Registering and Clearing Box
Register the provision related to losses arising from credit risk in operations carried out on stock exchanges, for own and clients' accounts, as well as the corresponding settlements.
1.8.9.40.10.10-2
(-) Provisions for Own Operations
1.8.9.40.10.15-7
(-) Provisions for Client Operations
1.8.9.40.11.00-8
(-) Provision for Credit Loss of Registering and Clearing Box - Intermediated
Register the provision related to losses arising from credit risk in operations carried out on stock exchanges, for own and clients' accounts, as well as the corresponding settlements, through an authorized institution acting as a clearing member.
1.8.9.40.11.10-1
(-) Provisions for Own Operations
1.8.9.40.11.15-6
(-) Provisions for Client Operations
1.8.9.40.30.00-3
(-) Provision for Credit Loss of Debtors - Pending Settlement Account
Register the provision related to losses arising from the credit risk of clients, in view of the realization of operations with fixed income securities, shares, commodities and financial assets, pending settlement at the time of interim and final balance sheets.
1.8.9.40.31.00-2
(-) Provision for Credit Loss of Rights Against Clients
Register the provision related to losses arising from the credit risk of clients in operations that were not honored by the institution within the settlement window of the stock exchange.
1.8.9.40.31.40-4
(-) Incurred Loss Associated with Credit Risk
1.8.9.40.31.60-0
(-) Expected Loss Associated with Credit Risk
1.8.9.40.40.00-0
(-) Provision for Credit Loss of Operations with Financial Assets and Commodities to be Settled
Register the provision related to losses arising from credit risk in operations carried out with commodities and financial assets on commodities and futures exchanges, for own and clients' accounts, as well as the corresponding settlements.
1.8.9.40.40.10-3
(-) Provisions for Own Operations
1.8.9.40.40.15-8
(-) Provisions for Client Operations
1.8.9.40.41.00-9
(-) Provision for Credit Loss of Operations with Financial Assets and Commodities to be Settled - Intermediated
174
Register the provision related to losses arising from credit risk in operations carried out with commodities and financial assets on commodities and futures exchanges, for own and clients' accounts, as well as the corresponding settlements, through an authorized institution acting as a clearing member.
1.8.9.40.41.10-2
(-) Provisions for Own Operations
1.8.9.40.41.15-7
(-) Provisions for Client Operations
Art. 3º The following accounting items are amended in Annex VIII of Normative Instruction BCB No. 426, of 2023, observing the order of the "Account Code" column:
Account Code
Account Name
Estban
Function
1.8.1.40.00.00-6
CREDIT FROM INSTALLMENT SALE OF NON-FINANCIAL ASSETS
190
Register the values related to credits from installment sales of non-financial assets, received or own, that are not formalized in legal instruments compatible with the accounting sub-group 1.6.0.00.00.00-7 Credit Operations.
1.8.4.10.00.00-0
REGISTERING AND CLEARING BOXES
172
Register the values related to operations carried out on stock exchanges, for own and clients' accounts, as well as the corresponding settlements and financial compensations on B3 – Brasil, Bolsa ou Balcão. This account must contain the following internal use sub-items: I - operation registration fees, which are intended exclusively for the registration of ANA fees, futures market operations, forward, options and other fees; II - other operations, which is intended for the registration of buyback differences, fees, representations and other values debited or credited by the registering and clearing boxes; III - incentivized fund auctions, which is intended for the registration of the broker's liabilities towards the registering and clearing boxes for the purchase of shares in the special auctions of incentivized investment funds; IV - third-party futures market profits to be received, which is intended for the registration of profits resulting from covered sales and early closure of third-party futures market positions, retained on stock exchanges; and V - own futures market profits to be received, which is intended for the registration of profits resulting from covered sales and early closure of own futures market positions, retained on stock exchanges.
1.8.8.35.00.00-1
DEBTORS FROM PURCHASE OF VALUES AND GOODS
172
Register the values related to credits from cash sales of non-financial assets, received or own, without characteristics of credit granting.
Art. 4º The following accounting items are included in Annex IX of Normative Instruction BCB No. 426, of 2023, observing the order of the "Account Code" column:
Account Code
Account Name
Estban
Function
1.9.8.05.00.00-7
SUSTAINABILITY ASSETS
190
Register the value of sustainability assets, according to current regulation.
1.9.8.05.10.00-4
Retirement
1.9.8.05.10.10-7
Linked to sustainability liability
1.9.8.05.10.20-0
Not linked to sustainability liability
1.9.8.05.20.00-1
Trading
1.9.8.05.20.10-4
Originated or Received
1.9.8.05.20.20-7
Acquired
1.9.8.10.00.00-1
VIRTUAL ASSETS
190
Register the value of virtual assets acquired or received, including the virtual assets backed by reserve assets created with the purpose of maintaining their value linked to the value of a reference fiat currency that do not meet the definition of financial asset, according to current regulation.
1.9.8.10.10.00-8
Fungible
1.9.8.10.20.00-5
Non-Fungible
1.9.8.95.00.00-8
G ain on Firm Commitment Subject to Hedge
190
Register the gain determined on firm commitment subject to hedge not yet recognized as an asset or liability.
1.9.8.99.10.00-7
(-) Non-Fungible Virtual Assets
1.9.8.99.90.00-7
(-) Others
Art. 5º The following accounting items are excluded from Annex IX of Normative Instruction BCB No. 426, of 2023:
Account Code
Account Name
Estban
Function
1.9.8.40.20.00-2
Sustainability Assets
Register the assets acquired for use in actions related to socio-environmental and climatic sustainability mechanisms, including Carbon Credit certificates.
1.9.8.90.30.00-4
Sustainability Assets
Register the investments in assets related to socio-environmental and climatic sustainability mechanisms, including Carbon Credit certificates and Decarbonization Credit CBIO
1.9.8.90.45.00-6
Virtual Assets
Art. 6º The following accounting items are included in Annex I of Normative Instruction BCB No. 428, of December 1, 2023, published in the Official Gazette of the Union on December 14, 2023, observing the order of the "Account Code" column:
Account Code
Account Name
Estban
Function
3.0.4.47.20.10-9
Financial Assets
Register virtual assets backed by reserve assets created with the purpose of maintaining their value linked to the value of a reference fiat currency that meet the definition of financial asset.
3.0.4.47.20.99-6
Others
Register virtual assets backed by reserve assets created with the purpose of maintaining their value linked to the value of a reference fiat currency that do not meet the definition of financial asset.
3.0.9.05.00.00-5
Sustainability Assets
Register the value of sustainability assets according to their category.
3.0.9.05.10.00-2
Retirement
Register the value of sustainability assets classified in the retirement category, according to current regulation.
3.0.9.05.10.05-7
Carbon Credit
3.0.9.05.10.99-2
Other Sustainability Assets
Register the value of sustainability assets classified in the retirement category, according to current regulation, for which there is no specific account.
3.0.9.05.20.00-9
Trading
Register the value of sustainability assets classified in the trading category, according to current regulation.
3.0.9.05.20.05-4
Carbon Credit
3.0.9.05.20.10-2
Decarbonization Credit (CBIO)
3.0.9.05.20.15-7
Emission permissions (allowances)
3.0.9.05.20.99-9
Other Sustainability Assets
Register the value of sustainability assets classified in the trading category, according to current regulation, for which there is no specific account.
Art. 7º The following accounting items are included in Annex II of Normative Instruction BCB No. 428, of 2023, observing the order of the "Account Code" column:
Account Code
Account Name
Estban
Function
3.2.5.00.00.00-8
Fair Value Hierarchy
3.2.5.20.00.00-6
FINANCIAL ASSETS - FAIR VALUE IN OTHER COMPREHENSIVE INCOME
Register, at net book value, financial assets classified in the fair value in other comprehensive income category, observing the fair value hierarchy, according to current regulation.
3.2.5.20.20.00-0
Interfinancial Liquidity Applications
3.2.5.20.20.10-3
Fair Value Level 1
3.2.5.20.20.20-6
Fair Value Level 2
3.2.5.20.20.30-9
Fair Value Level 3
3.2.5.20.30.00-7
Federal Public Bonds
3.2.5.20.30.10-0
Fair Value Level 1
3.2.5.20.30.20-3
Fair Value Level 2
3.2.5.20.30.30-6
Fair Value Level 3
3.2.5.20.31.00-6
Private Bonds
3.2.5.20.31.10-9
Fair Value Level 1
3.2.5.20.31.20-2
Fair Value Level 2
3.2.5.20.31.30-5
Fair Value Level 3
3.2.5.20.39.00-8
Other Securities and Financial Instruments
3.2.5.20.39.10-1
Fair Value Level 1
3.2.5.20.39.20-4
Fair Value Level 2
3.2.5.20.39.30-7
Fair Value Level 3
3.2.5.30.00.00-5
FINANCIAL ASSETS - FAIR VALUE IN PROFIT OR LOSS
Register, at net book value, financial assets classified in the fair value in profit or loss category, observing the fair value hierarchy, according to current regulation.
3.2.5.30.20.00-9
Interfinancial Liquidity Applications
3.2.5.30.20.10-2
Fair Value Level 1
3.2.5.30.20.20-5
Fair Value Level 2
3.2.5.30.20.30-8
Fair Value Level 3
3.2.5.30.30.00-6
Federal Public Bonds
3.2.5.30.30.10-9
Fair Value Level 1
3.2.5.30.30.20-2
Fair Value Level 2
3.2.5.30.30.30-5
Fair Value Level 3
3.2.5.30.31.00-5
Private Bonds
3.2.5.30.31.10-8
Fair Value Level 1
3.2.5.30.31.20-1
Fair Value Level 2
3.2.5.30.31.30-4
Fair Value Level 3
3.2.5.30.32.00-4
Investment Fund Shares
3.2.5.30.32.10-7
Fair Value Level 1
3.2.5.30.32.20-0
Fair Value Level 2
3.2.5.30.32.30-3
Fair Value Level 3
3.2.5.30.33.00-3
Variable Income Securities
3.2.5.30.33.10-6
Fair Value Level 1
3.2.5.30.33.20-9
Fair Value Level 2
3.2.5.30.33.30-2
Fair Value Level 3
3.2.5.30.34.00-2
Financial Derivative Instruments
3.2.5.30.34.10-5
Fair Value Level 1
3.2.5.30.34.20-8
Fair Value Level 2
3.2.5.30.34.30-1
Fair Value Level 3
3.2.5.30.39.00-7
Other Securities and Financial Instruments
3.2.5.30.39.10-0
Fair Value Level 1
3.2.5.30.39.20-3
Fair Value Level 2
3.2.5.30.39.30-6
Fair Value Level 3
3.2.5.30.60.00-7
Credit Operations
3.2.5.30.60.10-0
Fair Value Level 1
3.2.5.30.60.20-3
Fair Value Level 2
3.2.5.30.60.30-6
Fair Value Level 3
3.2.5.30.80.00-1
Operations with Characteristics of Credit Granting
3.2.5.30.80.10-4
Fair Value Level 1
3.2.5.30.80.20-7
Fair Value Level 2
3.2.5.30.80.30-0
Fair Value Level 3
3.2.5.30.99.00-9
Other Financial Assets
3.2.5.30.99.10-2
Fair Value Level 1
3.2.5.30.99.20-5
Fair Value Level 2
3.2.5.30.99.30-8
Fair Value Level 3
3.2.5.90.00.00-9
NON-FINANCIAL ASSETS MEASURED AT FAIR VALUE
Register, at net book value, non-financial assets measured at fair value, observing the fair value hierarchy, according to regulation in force.
3.2.5.90.05.00-4
Sustainability Assets
3.2.5.90.05.10-7
Fair Value Level 1
3.2.5.90.05.20-0
Fair Value Level 2
3.2.5.90.05.30-3
Fair Value Level 3
3.2.5.90.10.00-6
Virtual Assets
3.2.5.90.10.10-9
Fair Value Level 1
3.2.5.90.10.20-2
Fair Value Level 2
3.2.5.90.10.30-5
Fair Value Level 3
3.2.5.90.90.00-2
Commodities
3.2.5.90.90.10-5
Fair Value Level 1
3.2.5.90.90.20-8
Fair Value Level 2
3.2.5.90.90.30-1
Fair Value Level 3
3.2.5.90.99.00-3
Other Non-Financial Assets
3.2.5.90.99.10-6
Fair Value Level 1
3.2.5.90.99.20-9
Fair Value Level 2
3.2.5.90.99.30-2
Fair Value Level 3
3.2.5.99.00.00-6
FAIR VALUE HIERARCHY - FINANCIAL LIABILITIES - CONTROL
Register, at net book value, financial liabilities classified in the fair value in profit or loss category, in counterpart to the titles of the breakdown of sub-group 9.2.5.30.00.00-9 Financial Liabilities - Fair Value in Profit or Loss.
3.2.5.99.30.00-7
Fair Value Hierarchy - Financial Liabilities - Fair Value in Profit or Loss - Control
3.2.9.10.10.25-3
Interfinancial Relations
3.2.9.10.10.35-6
Financial Leasing
3.2.9.10.10.45-9
Other Financial Assets
3.2.9.10.20.25-0
Interfinancial Relations
3.2.9.10.20.35-3
Financial Leasing
3.2.9.10.20.45-6
Other Financial Assets
3.2.9.10.20.55-9
Highly Probable Foreseen Transaction
3.2.9.30.10.10-3
Fair Value Hedge - Financial Derivative Instruments
3.2.9.30.10.20-6
Fair Value Hedge - Non-Derivative Financial Instruments
3.2.9.30.20.10-0
Cash Flow Hedge - Financial Derivative Instruments
3.2.9.30.20.20-3
Cash Flow Hedge - Non-Derivative Financial Instruments
Art. 8º The following accounting items are amended in Annex II of Normative Instruction BCB No. 428, of 2023:
Account Code
Account Name
Estban
Function
3.2.9.30.00.00-3
HEDGE INSTRUMENTS - LONG POSITION
Register the value of hedge instruments, according to current regulation.
3.2.9.30.10.00-0
Fair Value Hedge
Register the value of fair value hedge instruments, according to current regulation.
3.2.9.30.20.00-7
Cash Flow Hedge
Register the value of cash flow hedge instruments, according to current regulation.
3.2.9.40.00.00-2
HEDGE INSTRUMENTS - SHORT POSITION - CONTROL
Register the value of hedge instruments, according to current regulation.
Art. 9º The following accounting item is excluded from Annex II of Normative Instruction BCB No. 428, of 2023:
Account Code
Account Name
Estban
Function
3.2.9.10.20.60-7
Firm Commitment Not Yet Recognized as Asset
Art. 10. The following accounting items are included in Annex VIII of Normative Instruction BCB No. 429, of December 1, 2023, published in the Official Gazette of the Union on December 14, 2023, observing the order of the "Account Code" column:
Account Code
Account Name
Estban
Function
4.8.4.00.00.00-8
Firm Commitment
4.8.4.10.00.00-7
Loss on Firm Commitment Subject to Hedge
500
Register the loss determined on firm commitment subject to hedge not yet recognized as an asset or liability.
Art. 11. The following accounting items are included in Annex IX of Normative Instruction BCB No. 429, of 2023, observing the order of the "Account Code" column:
Account Code
Account Name
Estban
Function
4.9.5.11.00.00-0
REGISTERING AND CLEARING BOXES - INTERMEDIATED
500
Register the values related to operations carried out on stock exchanges, for own and clients' accounts, as well as the corresponding settlements, through an authorized institution acting as a clearing member. This account must contain the following internal use sub-items: I - Operation Registration Fees, which are intended for the registration of Action Negotiation Notice (ANA) fees for futures market operations, forward, options and other fees; II - Other Operations, which is intended for the registration of buyback differences, fees, representations and other values debited or credited by the Registering and Clearing Boxes; III - Incentivized Fund Auctions, which is intended for the registration of the broker's liabilities towards the Registering and Clearing Boxes for the purchase of shares in the special auctions of incentivized investment funds; IV - Third-Party Futures Market Profits to be Received, which is intended for the registration of profits resulting from covered sales and early closure of third-party futures market positions, retained on stock exchanges; and V - Own Futures Market Profits to be Received, which is intended for the registration of profits resulting from covered sales and early closure of own futures market positions, retained on stock exchanges.
4.9.5.11.10.00-7
Own Operations
4.9.5.11.15.00-2
Client Operations
4.9.5.41.00.00-7
OPERATIONS WITH FINANCIAL ASSETS AND COMMODITIES TO BE SETTLED - INTERMEDIATED
500
Register the values related to operations carried out with commodities and financial assets on commodities and futures exchanges, for own and clients' accounts, as well as the corresponding settlements, through an authorized institution acting as a clearing member.
4.9.5.41.10.00-4
Own Operations
4.9.5.41.15.00-9
Client Operations
4.9.8.05.00.00-4
SUSTAINABILITY LIABILITIES
500
Register the value of sustainability liabilities, segregating the covered and uncovered portion, according to current regulation.
4.9.8.05.10.00-1
Covered Portion
4.9.8.05.20.00-8
Uncovered Portion
4.9.8.10.00.00-8
VIRTUAL ASSETS
500
Register the value of obligations arising from the issuance of virtual assets.
Art. 12. The following accounting items are amended in Annex IX of Normative Instruction BCB No. 429, of 2023:
Account Code
Account Name
Estban
Function
4.9.5.10.00.00-7
REGISTERING AND CLEARING BOXES
Register the values related to operations carried out on stock exchanges, for own and clients' accounts, as well as the corresponding settlements and financial compensations on B3 – Brasil, Bolsa ou Balcão. This account must contain the following internal use sub-items: I - Operation Registration Fees, which are intended for the registration of Action Negotiation Notice (ANA) fees for futures market operations, forward, options and other fees; II - Other Operations, which is intended for the registration of buyback differences, fees, representations and other values debited or credited by the Registering and Clearing Boxes; III - Incentivized Fund Auctions, which is intended for the registration of the broker's liabilities towards the Registering and Clearing Boxes for the purchase of shares in the special auctions of incentivized investment funds; IV - Third-Party Futures Market Profits to be Received, which is intended for the registration of profits resulting from covered sales and early closure of third-party futures market positions, retained on stock exchanges; and V - Own Futures Market Profits to be Received, which is intended for the registration of profits resulting from covered sales and early closure of own futures market positions, retained on stock exchanges.
4.9.9.35.90.00-1
Other Contingencies
Register the provision for other contingencies for which there is no specific account.
Art. 13. The following accounting items are included in Annex I of Normative Instruction BCB No. 430, of December 1, 2023,