BCB Resolution No. 211 of March 22, 2022

Resolution No. 211

BCB RESOLUTION NO. 211, OF MARCH 22, 2022

Amends provisions of the Regulation annexed to BCB Resolution No. 105, of June 9, 2021, which regulates the functioning of the Reserve Transfer System (STR), the Reserve Bank Account, and the Settlement Account at the Central Bank of Brazil, to provide for the maintenance of a Settlement Account and participation in the STR by credit guarantee funds, and authorizes the carrying out of repurchase operations between the Central Bank of Brazil and credit guarantee funds.

The Collegiate Board of the Central Bank of Brazil, in a session held on March 22, 2022, based on art. 10 of Law No. 10,214, of March 27, 2001, on art. 1, sole paragraph, combined with art. 6, caput, of Complementary Law No. 179, of February 24, 2021, on art. 28, § 1, of Complementary Law No. 101, of May 4, 2000, and on arts. 8, 9, and 12 of CMN Resolution No. 4,952, of September 30, 2021,

R E S O L V E:

Art.
1º The Regulation Annexed to BCB Resolution No. 105, of June 9, 2021, shall enter into force with the following alterations:

"Art. 2º
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XVI - Reserve Bank Account: an account owned by banking financial institutions, maintained at the Central Bank of Brazil for the purpose of receiving deposits from these institutions and transferring funds within the STR;

XVII - Settlement Account: an account owned by clearinghouses and providers of clearing and settlement services, credit guarantee funds, and other institutions authorized to operate by the Central Bank of Brazil that cannot be holders of a Reserve Bank Account, maintained at the Central Bank of Brazil for the purpose of receiving deposits from these institutions and transferring funds within the STR; and

XVIII - credit guarantee fund: an entity constituted in accordance with art. 28, § 1, of Complementary Law No. 101, of May 4, 2000, whose purposes are to protect depositors and investors within the financial system, including the cooperative segment, and to contribute to the maintenance of stability and the prevention of crises in said system." (NR)

"Art. 7º ............................................................................................................

§ 1º Participants who are holders of a Reserve Bank Account, except as provided in item II of § 2 of this article, credit guarantee funds, and clearinghouses and providers of clearing and settlement services who are holders of a Settlement Account must use the RSFN as the primary form of access.

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"Art. 33. ..........................................................................................................

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II - if titled by an institution authorized to operate by the Central Bank of Brazil not discriminated in art. 32, or by a credit guarantee fund, of the liquidity maintained at the Central Bank of Brazil and of the movements in the STR." (NR)

"Art. 36. .........................................................................................................

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II - optional, for other clearinghouses and providers of clearing and settlement services, for credit guarantee funds, and for institutions authorized to operate by the Central Bank of Brazil not discriminated in art. 35.

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Art.
2º The carrying out of repurchase operations between the Central Bank of Brazil and credit guarantee funds constituted in accordance with art. 28, § 1, of Complementary Law No. 101, of May 4, 2000, which have the purposes of protecting depositors and investors within the financial system, including the cooperative segment, and contributing to the maintenance of stability and the prevention of crises in said system, is authorized.

Art.
3º This Resolution enters into force on April 1, 2022.

Bruno Serra Fernandes
Director of Monetary Policy