Regulatory Alerts2020-05-04 | Resolução CMN 4815Resolution CMN No. 4815 - Conditions and Procedures for Discounting Commercial Receivables and Credit Operations Secured by Such Receivables
The National Monetary Council, via the Central Bank of Brazil, establishes the regulatory framework for financial institutions to conduct discounting and secured credit operations involving commercial receivables. The resolution mandates the exclusive use of book-entry promissory notes (duplicatas escriturais) for these transactions, with implementation timelines varying by company size, and requires specific contractual and system-level procedures for registration and guarantee management. It defines key terms such as constituted and to-be-constituted receivables, sets revenue thresholds for company classifications, and outlines the obligations of financial institutions regarding authorization, asset transfer, and the release of liens upon payment.