BCB Instruction Normative No. 381 — Consolidates Procedures for Remitting Foreign Currency Inflows with Pre-established Real Values and Foreign Exchange Purchase and Sale Operations

INSTRUCTION NORMATIVE BCB NO. 381, OF MAY 15, 2023

Consolidates the procedures for the remittance by means of a file to the Central Bank of Brazil of information relating to inflows of foreign currency with pre-established real values abroad and purchase and sale operations of foreign currency, which are dealt with, respectively, in item I of art. 81, and § 3 of art. 78, of Resolution BCB No. 277, of December 31, 2022.

The head of the Department of Financial System Monitoring (Desig) and the head of the Prudential and Exchange Regulation Department (Dereg), in the exercise of the powers conferred upon them by arts. 23, item I, letter “a”, 77, items III and IV, and 118, items II, letter “a”, and IV, of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 84.287, of February 27, 2015, and having in view the provisions of Resolution BCB No. 277, of December 31, 2022,

R E S O L V E:

Art. 1º This Instruction Normative deals with the remittance by means of a file to the Central Bank of Brazil of information relating to operations for the inflow of foreign currency with pre-established real values abroad and for the purchase and sale of foreign currency, which are dealt with, respectively, in item I of art. 81, and § 3 of art. 78, of Resolution BCB No. 277, of December 31, 2022.

Sole paragraph. The remittance referred to in the caput must be made by institutions authorized to operate in the foreign exchange market.

Art. 2º The information referred to in art. 1 must be sent by means of document C204 - Consolidated Send – Record of Operations (file ACAM204), in accordance with the Annex to this Instruction Normative.

§ 1º The remittance referred to in the caput:

I - must be carried out monthly, by the tenth day of the month following the month of the effective realization of the operation, in the case of information relating to inflows of foreign currency with pre-established real values abroad carried out in accordance with art. 26 of Resolution BCB No. 277, of December 31, 2022;

II - must be carried out monthly, by the fifth day of the month following the month of the effective realization of the operation, in the case of information relating to purchase and sale operations of foreign currency with the characteristics provided for in § 3 of art. 78 of Resolution BCB No. 277, of December 31, 2022;

III - may be carried out by means of one or more transmission files, provided that by the deadlines referred to in items I and II, information relating to all transactions carried out in the immediately preceding month has been sent.

§ 2º The information necessary for the preparation of the document indicated in the caput is available on the Central Bank of Brazil’s internet page, at the electronic address https://www.bcb.gov.br/estabilidadefinanceira/leiautedocumentoscrd.

Art. 3º After processing the document referred to in art. 2, a response will be sent by means of document C205 - Consolidated Send – Response to the Processing of Records or Cancellations of Records of Operations (file ACAM205), as per the Annex to this Instruction Normative.

Art. 4º The information referred to in item I of art. 2 sent to the Central Bank of Brazil must correspond to the records of foreign exchange transactions carried out in the Câmbio System, by means of the CAM0021 message, to sensitize the foreign exchange position of the institution authorized to operate in the foreign exchange market, as established in item I of art. 26 of Resolution BCB No. 277, of December 31, 2022.

Art. 5º Inconsistencies identified after the tenth day of each month between the records transmitted by the ACAM204 files and the records referred to in art. 4 of this Instruction Normative will be communicated to the sending institution by means of the CAM0060 message of the Catalog of Services of the National Financial System (SFN).

§ 1º The communication referred to in the caput will occur daily, while the inconsistency persists.

§ 2º Information about the SFN Services Catalog mentioned in the caput is available on the Central Bank of Brazil’s internet page, at the electronic address https://www.bcb.gov.br/estabilidadefinanceira/comunicacaodados.

Art. 6º The cancellation of operation records sent by means of the ACAM204 file may be made by:

I - filling in the information of the “Primary Cancellation Group” of the ACAM204 file; or

II - sending the message “CAM0034 - IF informs cancellation of event”, as provided for in the Catalog of Services of the SFN.

Art. 7º Institutions authorized to operate in the foreign exchange market must indicate an employee qualified to respond to any questions regarding the information provided in accordance with this Instruction Normative.

Sole paragraph. The indication referred to in the caput must be registered and kept updated in the Information System on Entities of Interest to the Central Bank (Unicad), as provided for in Resolution BCB No. 209, of March 22, 2022.

Art. 8º Instruction Normative BCB No. 125, of July 21, 2021, is hereby revoked.

Art. 9º This Instruction Normative enters into force on June 1, 2023.

Gilneu Francisco Astolfi Vivan Ricardo Franco Moura Head of Desig Head of Dereg

Annex to Instruction Normative BCB No. 381, of May 15, 2023

Coding and characteristics of the documents:

Document Codes: C204 and C205.

Document Names:

C204 - Consolidated Send – Record of Operations (file ACAM204);

C205 - Consolidated Send – Response to the Processing of Records or Cancellations of Records of Operations (file ACAM205).

Remittance Frequency: Monthly.

Deadline for Remittance:

• by the tenth day of the month following the month of the effective realization of the operation in the case of inflows of foreign currency with pre-established real values abroad;

• by the fifth day of the month following the month of the effective realization of the operation in the case of purchase and sale operations of foreign currency.

Assessment Base Date: Daily.

Unit Responsible for Curation: Department of Financial System Monitoring (Desig).

Method of Remittance: Electronic means.

System for Remittance: File Transfer System (STA), as regulated and made available on this Agency’s page, at the address https://www.bcb.gov.br/acessoinformacao/sistematransferenciaarquivos.

Format for Remittance: XML (eXtensible Markup Language).

Validation of Remittance: Anticipated.

Remittance Validation Schema: XSD (XML Schema Definition).

Additional elements for remittance: available on the Central Bank of Brazil’s internet page, at the addresses https://www.bcb.gov.br/estabilidadefinanceira/leiautedocumentoscrd and https://www.bcb.gov.br/estabilidadefinanceira/sistemas.

Director Responsible for Remittance: Director responsible for operations in the foreign exchange market-ResBCB277.

Director Responsible Record: in the “Links – Inclusion – Director Responsible by Area of Activity” module of Unicad.

Record of the Employee Designated to Respond to Questions: in the “Links – Inclusion – Internal Audit / Ombudsman / Resp. for Sending Information” module of Unicad.

Electronic Address for Resolving Doubts about Filling in and Sending the Document: arquivos.cambio@bcb.gov.br.

Institutions Obligated to Remit: institutions authorized to operate in the foreign exchange market, in accordance with art. 29 of Resolution BCB No. 277, of December 31, 2022.

NOTE

The provision of information to the Central Bank of Brazil (BCB) by institutions authorized to operate in the foreign exchange market relating to inflows of foreign currency with pre-established real values abroad is provided for in item I of art. 81 of Resolution BCB No. 277, of December 31, 2022. In turn, the provision of information to the BCB regarding foreign exchange operations of up to US$50,000.00 (fifty thousand United States dollars), or its equivalent in other currencies, that does not need to be linked to a foreign capital operation reported in a BCB system, is dealt with in § 3 of art. 78 of Resolution BCB No. 277, of 2022.

2. The issuance of this Instruction Normative results from the entry into force, on December 31, 2022, of Law No. 14.286, of December 29, 2021, which provides for the Brazilian foreign exchange market, Brazilian capital abroad, foreign capital in the Country, and the provision of information to the BCB, and its infralegal regulation, highlighting Resolution BCB No. 277, of 2022, which regulates Law No. 14.286, of 2021, regarding the foreign exchange market and the entry into the Country and the exit from the Country of values in reais and in foreign currency.

3. Due to the entry into force of the new foreign exchange market legislation, this Instruction Normative revises the text of the previous normative act (Instruction Normative BCB No. 125, of July 21, 2021) by updating references to the current regulatory commands and bringing some additional adjustments with the purpose of standardizing and bringing greater clarity to the wording.

4. Decree No. 10.411, of June 30, 2020, regulated the carrying out of regulatory impact analysis (AIR) as a prerequisite for the issuance of a normative act. However, in its article 4, the Decree establishes the hypotheses for dispensing with the carrying out of AIR. This Instruction Normative falls under three of these hypotheses, namely: item II - normative act intended to discipline rights or obligations defined in a hierarchically superior norm that does not allow, technically or legally, different regulatory alternatives; item III - normative act considered to have low impact; and item IV - normative act that aims to update or revoke norms considered obsolete, without change of merit. Thus, based on items II, III, and IV of art. 4 of Decree No. 10.411, of 2020, we understand that the issuance of this Instruction Normative dispenses with the carrying out of AIR.

Gilneu Francisco Astolfi Vivan Ricardo Franco Moura Head of Desig Head of Dereg