2020-05-25 | Carta Circular 4054The 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.
The Head of the Department of Financial System Organization (Deorf), using the authority granted by Art. 23, item I, clause “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 84,287, of February 27, 2015, and based on Art. 1 of Resolution No. 4,716, of April 25, 2019,
R E S O L V E S:
Art. 1 Requests for authorization to collect rural savings deposits, as dealt with in Resolution No. 4,716, of April 25, 2019, and Resolution No. 4,772, of December 19, 2019, must be submitted to the Department of Financial System Organization (Deorf), in accordance with current regulations, containing:
I – when formulated by a credit confederation:
a) qualification of the applicant (name, complete address, and CNPJ);
b) qualification of the singular cooperatives that are the subject of the authorization request, with the identification of the respective credit central cooperative to which each is affiliated;
c) declaration that the singular cooperatives that are the subject of the request comply with current regulations, including regarding operational limits, specific conditions established in rural credit regulation, and other obligations to the Central Bank of Brazil;
d) declaration that there is no irregularity or restriction in public or private registration and information systems containing data pertinent to the requested authorization, on the part of the singular cooperatives that are the subject of the request;
e) declaration that the affiliated credit central cooperatives and their respective singular cooperatives that are the subject of the request adhere to the systemic performance guidelines established by the requesting credit confederation;
f) declaration that the cooperative system has adequate structure to comply with provisions regarding resource allocation and reserve requirements (encaixe) as provided in the applicable regulation;
II – when formulated by a credit central cooperative:
a) qualification of the applicant (name, complete address, and CNPJ);
b) qualification of the singular cooperatives that are the subject of the authorization request;
c) declaration that the singular cooperatives that are the subject of the request comply with current regulations, including regarding operational limits, specific conditions established in rural credit regulation, and other obligations to the Central Bank of Brazil;
d) declaration that there is no irregularity or restriction in public or private registration and information systems containing data pertinent to the requested authorization, on the part of the singular cooperatives that are the subject of the request;
e) declaration that the singular cooperatives that are the subject of the request adhere to the systemic performance guidelines established by the requesting credit central cooperative;
f) declaration that the cooperative system has adequate structure to comply with provisions regarding resource allocation and reserve requirements (encaixe) as provided in the applicable regulation;
III – when formulated by a singular credit cooperative:
a) qualification of the applicant (name, complete address, and CNPJ);
b) declaration that the applicant complies with current regulations, including regarding operational limits, specific conditions established in rural credit regulation, and other obligations to the Central Bank of Brazil;
c) declaration that there is no irregularity or restriction in public or private registration and information systems containing data pertinent to the requested authorization, on the part of the applicant;
d) declaration that the cooperative has adequate structure to comply with provisions regarding resource allocation and reserve requirements (encaixe) as provided in the applicable regulation.
Sole Paragraph. The requests mentioned in this article must be accompanied by a document containing a demonstration of the market reasons that justify the interest of the institution formulating the request in collecting rural savings deposits.
Art. 2 This Circular Letter enters into force on June 1, 2020.
José Reynaldo de Almeida Furlani