Regulatory Alerts2021-08-16 | Instrução Normativa Conjunta 1Joint Instruction No. 1 - Discloses Procedures for Remitting Financial Statements by Institutions in Extrajudicial Liquidation Regime
The Heads of the Resolution and Sanctioning Department (Derad) and the Financial System Monitoring Department (Desig) of the Central Bank of Brazil issued Joint Instruction No. 1 to establish procedures for financial reporting by institutions under extrajudicial liquidation. The instruction mandates the submission of two specific documents, the Special Balance Sheet of Substitute Liquidator (Code 4090) and the Opening Balance Sheet of the Extrajudicial Liquidation Regime (Code 4096), using defined Cosif accounting plans. Submissions must be made electronically via the STA system within sixty days of the respective base dates, subject to entry validation checks, and this instruction revokes Circular Letter No. 3,810 of 2017.
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