Regulatory Alerts2020-05-25 | Carta Circular 4054Circular Letter No. 4054 — Discloses procedures for instructing requests for authorization to collect rural savings deposits by credit cooperatives
The Head of the Department of Financial System Organization (Deorf) of the Central Bank of Brazil establishes the specific documentation requirements for credit cooperatives seeking authorization to collect rural savings deposits. The regulation mandates that applications from confederations, central cooperatives, or singular cooperatives must include detailed identification, compliance declarations, and proof of adequate structural capacity. These requests must also be accompanied by a document demonstrating the market reasons justifying the institution's interest in this activity.
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