BCB Normative Instruction No. 162

BCB NORMATIVE INSTRUCTION No. 162, OF OCTOBER 1, 2021

Discloses procedures regarding the provision of information addressed in BCB Resolution No. 145, of September 24, 2021, which defines and consolidates the rules for reserve requirements on time deposits.

The Head of the Department of Banking Operations and Payment System (Deban), using the authority conferred by art. 23, item I, subitem "a", of the Internal Regulations of the Central Bank of Brazil, annexed to Administrative Rule No. 84,287, of February 27, 2015, and in view of the provisions of the BCB Resolution on Reserve Requirements on Time Deposits,

R E S O L V E S :

Art. 1 For the provision of information related to reserve requirements on time deposits, institutions must observe the following procedures:

• I - Institutions participating in the Reserve Transfer System (STR) with primary access via the National Financial System Network (RSFN): use the RSFN; and

• II - Other institutions: use the STR-Web application.

Art. 2 For the provision of information, the following codes from the Domain Dictionary associated with the National Financial System Services Catalog must be used:

• I - Institutions participating in the STR with primary access via the RSFN: use the message "RCO0002 - IF informs Statement", from the RCO Services Group, contained in the National Financial System Services Catalog, filling in the field "CodRCO" with the code "9- Time Deposits", observing the following codes from the Domain Dictionary:

  • a) CodItem 9001 - total balance of the account "4.1.5.10.00-9 Time Deposits", from the Chart of Accounts for Institutions of the National Financial System (Cosif) (item I, art. 3, of BCB Resolution No. 145, of September 24, 2021);

  • b) CodItem 9002 - total balance of the account "4.3.1.00.00-8 Resources of Bills of Exchange", from Cosif (item II, art. 3, of BCB Resolution No. 145, of September 24, 2021);

  • c) CodItem 9003 - total balance of the account "4.3.4.50.00-2 Pledged Debenture Certificates", from Cosif (item III, art. 3, of BCB Resolution No. 145, of September 24, 2021);

  • d) CodItem 9004 - total balance of the account "4.2.1.10.80-0 Own-Issued Securities", from Cosif (item IV, art. 3, of BCB Resolution No. 145, of September 24, 2021);

  • e) CodItem 9005 - total balance of the account "4.9.9.12.20-7 Contracts of Assumption of Obligations - Linked to Operations Carried Out Abroad", from Cosif (item V, art. 3, of BCB Resolution No. 145, of September 24, 2021);

  • f) CodItem 9024 – total balance of time deposits resulting from assistance or financial support operations contracted with funds or other mechanisms constituted by institutions of the National Financial System in the form of § 1 of art. 28 of Complementary Law No. 101, of May 4, 2000, including those addressed in art. 12, item IV, of Complementary Law No. 130, of April 17, 2009; and

  • g) CodItem 9025 - updated outstanding balance of financings granted under the Emergency Employment Support Program, addressed in article 8 of BCB Resolution No. 145, of September 24, 2021.

• II - other institutions: use the STR-Web application, to inform the data provided for in item I.

Sole paragraph. For CodItem 9025, only the value informed referring to the last business day of the calculation period will be considered in the calculation of the deduction in the corresponding movement period.

Art. 3 The calculations of the deductibility deductions established in arts. 6, 7, 8 and 9 of BCB Resolution No. 145, of September 24, 2021, and consequently of the requirement to be collected, will be performed as follows:

Requirement to be Collected = Pre-Requirement – Deduc LFL – DeducPR1 - DeducFopa – DeducLF;

Where:

Pre-Requirement = requirement without deductions, as per art. 5 of BCB Resolution No. 145, of September 24, 2021;

DeducLFL = deduction associated with the average in the calculation period of the Total Financial Limit for operations of the Term Liquidity Line (LLT) at the daily opening of the Liquidity Financial Lines (LFL) system, established in art. 6 of BCB Resolution No. 145, of September 24, 2021;

DeducPR1 = deduction established in art. 7 of BCB Resolution No. 145, of September 24, 2021;

DeducFopa = deduction used from the Emergency Employment Support Program, established in art. 8 of BCB Resolution No. 145, of September 24, 2021; and

DeducLF = remaining deduction related to the balance of repurchased own-issued Financial Bills, established in art. 9 of BCB Resolution No. 145, of September 24, 2021.

§ 1 The computation of DeducLFL is performed by the Reserve Requirement System (RCO) at the time of calculating the financial institution's requirement, considering the information available in the field "Total Limit Value LLT" of the first daily message "LFL0014 - LFL informs available limits", from the LFL Services Group, contained in the National Financial System Services Catalog, sent with the field "Financial Limits LFL Version Number" equal to 1 (one), at the daily opening of the LFL system on each of the days of the informed calculation period.

§ 2 For purposes of verifying the calculation of DeducLFL, financial institutions without primary access to the RSFN may consult the Total Financial Limit of the LLT at the beginning of each day through the "Limits" tab of the "LFL" portlet of the Str-Web application.

§ 3 The zero value of the Total Financial Limit of the LLT referring to the opening of November 8, 2021, the date of availability in the production environment of the deposit and pre-positioning of collateral functionalities in the LFL system, will not be considered for purposes of calculating the average of DeducLFL for the calculation period beginning on November 8 and ending on November 12, 2021.

Art. 4 For the purposes of the provisions of BCB Resolution No. 131, of August 20, 2021, Deban shall monitor the conduct of institutions with regard to the provision and submission within the established deadline of documents, data or information relating to reserve requirements and mandatory allocations, and the institution and its administrators shall be subject to the penalties provided for in the regulations in force.

Art. 5 Considering the severity, relevance, repetition and recurrence of any irregular conduct, Deban may adopt one of the following measures:

• I - request for clarifications, preferably through BC Correio, regarding a certain irregular conduct committed by the institution;

• II - summons of the director responsible for the provision of information by financial institutions and by the other institutions authorized to operate by the Central Bank of Brazil to provide clarifications; or

• III - initiation of an administrative sanctioning process, as provided for in BCB Resolution No. 131, of August 20, 2021.

Art. 6 The documentation proving the information covered by this Normative Instruction, unless otherwise provided, must be kept at the disposal of the Central Bank of Brazil for a period of five years, counted from the date to which each information refers, under the terms of the provisions of art. 1 of Law No. 9.873, of November 23, 1999.

Art. 7 Are revoked, after their effects have been produced in the calculation period beginning on November 1, 2021 and ending on November 5, 2021, whose adjustment will occur on November 16, 2021:

• I - Circular Letter No. 3.953, of June 12, 2019; and

• II - Circular Letter No. 4.026, of April 14, 2020.

Art. 8 The provisions of this Normative Instruction must be observed as from the calculation period beginning on November 8 and ending on November 12, 2021, whose adjustment will occur on November 22, 2021.

Art. 9 This Normative Instruction enters into force on November 1, 2021.

Rogério Antônio Lucca