BCB Resolution No. 156 — Accounting Criteria and Procedures for Consortium Administrators

BCB RESOLUTION NO. 156, OF OCTOBER 19, 2021

Establishes the accounting criteria and procedures to be observed by consortium administrators authorized to operate by the Central Bank of Brazil in the bookkeeping of consortium groups.

The Collegiate Board of the Central Bank of Brazil, in a session held on October 19, 2021, based on Arts. 6 and 7, item III, of Law No. 11,795, of October 8, 2008,

R E S O L V E:

Art. 1 This Resolution establishes the accounting criteria and procedures to be observed by consortium administrators authorized to operate by the Central Bank of Brazil in the bookkeeping of consortium groups.

Art. 2 The bookkeeping of consortium groups must be individualized by group and separate from the bookkeeping of the consortium administrator.

Art. 3 For the purposes of the bookkeeping referred to in Art. 2, consortium administrators must maintain analytical controls that allow:

I - the identification, by consortium group, of the daily balance of free-movement deposits held in banking establishments; and

II - the periodic reconciliation of financial applications made in the name of the consortium group, including regarding yields and application terms.

Sole Paragraph. The reconciliation referred to in item II of the caput is mandatory in the preparation of the monthly trial balance and upon the holding of the group's assembly.

Art. 4 In the bookkeeping of consortium groups, consortium administrators must:

I - for groups in formation, register the resources received from quota subscribers:

a) in compensation accounts, at the administrator; and

b) in the appropriate equity items, in the consortium groups;

II - for formed groups:

a) write off, on the date of the group's constitution, the values referred to in item I of the caput of the group in formation's statement and recognize them in the formed group's statement; and

b) recognize, in the appropriate liability account of the groups, the resources of the groups accumulated from the date of the group's constitution until the closing date; and

III - for closed groups:

a) write off the values referred to in item II, letter "b", upon their distribution, according to specific regulation; and

b) register, in the appropriate compensation accounts of the administrator:

1. the values related to unclaimed resources, as well as those corresponding to the application of these resources, regardless of their origin; and

2. the values pending receipt from defaulting consortium members, until all collection means are exhausted.

Sole Paragraph. The provision in item III, letter "b", item 1, does not apply to unclaimed resources constituted before the entry into force of Law No. 11,795, of October 8, 2008, which must remain registered in the administrator's assets and liabilities.

Art. 5 The equity and compensation accounts referenced in the value of the good or service must be adjusted whenever the price of the good, set of goods, service, or set of services referenced in the contract is altered.

Art. 6 Consortium administrators must disclose in the explanatory notes the value of unclaimed resources of the consortium groups.

Art. 7 Circular No. 3,259, of September 28, 2004, is hereby revoked.

Art. 8 This Resolution enters into force on January 1, 2022.

Otávio Ribeiro Damaso
Director of Regulation