BCB Resolution No. 307 of March 23, 2023: Maximum Limit for Credit Operations with Public Sector Entities for Type 3 Institutions

BCB RESOLUTION NO.
307, OF MARCH 23, 2023

Establishes the maximum limit for the amount of credit operations with public sector entities to be observed by an institution classified as Type 3. (Amended, effective January 1, 2025, by BCB Resolution No. 447, of December 19, 2024.)

The Collegiate Board of the Central Bank of Brazil, in a session held on March 23, 2023, based on arts. 6, § 1, 9, items II and IX, and 15 of Law No. 12.865, of October 9, 2013, and taking into account the provisions of art. 14 of Resolution No. 4.282, of November 4, 2013,

R E S O
L V E :

Art. 1. This Resolution establishes the maximum limit for the amount of credit operations with public sector entities to be observed by an institution classified as Type 3, in accordance with BCB Resolution No. 436, of November 28, 2024. (Amended, effective January 1, 2025, by BCB Resolution No. 447, of December 19, 2024.)

Sole Paragraph. The limit established in the caput does not constitute permission for the practice of operations or services prohibited by law, regulation, or administrative act for the leading institution of the conglomerate. (Amended, effective January 1, 2025, by BCB Resolution No. 447, of December 19, 2024.)

Art. 2. For the purposes of this Resolution, it is understood:

I - by public sector entities and bodies:

a) the direct administration of the Union, the states, the Federal District, and the municipalities;

b) the autarchies and foundations established or maintained, directly or indirectly, by the Union, the states, the Federal District, and the municipalities;

c) non-financial public companies and mixed-economy societies, their subsidiaries, and other companies controlled, directly or indirectly, by the Union, the states, the Federal District, and the municipalities, including exclusive-object societies; and

d) other bodies or entities of the powers of the Union, the states, the Federal District, and the municipalities;

II - by credit operation:

a) loans and financing;

b) leasing operations;

c) the definitive acquisition or carried out through committed operations for resale of securities issued by the public sector entities and bodies mentioned in item I, letter “c” of this article, excluding the definitive acquisition of shares of mixed-economy societies;

d) the granting of guarantees of any nature; and

e) any and all operations that result, directly or indirectly, in the granting of credit and/or raising of resources of any nature, including the use of financial derivatives.

Art. 3. The institution mentioned in art. 1, caput, must observe the maximum limit of 45% (forty-five percent) of its Reference Equity – PR, calculated in accordance with current regulations, for the amount of credit operations with public sector entities. (Amended, effective January 1, 2025, by BCB Resolution No. 447, of December 19, 2024.)

§ 1. Compliance with the limit referred to in the caput must occur permanently.

§ 2. The following are not subject to the limit established in the caput:

I - credit operations that are the responsibility of or have formal and integral guarantee of the Union;

II - values to be released from contracted credit operations; and

III - contracted and unused credit limits.

§ 3. The release of values related to contracted credit operations and the use of contracted credit limits must be managed in such a way as not to result in non-compliance with the limit established in the caput.

§ 4. Compliance with the limit referred to in the caput must occur on a consolidated basis for institutions belonging to the same prudential conglomerate, in accordance with the Accounting Standard of Institutions Regulated by the Central Bank of Brazil – Cosif. (Added, effective January 1, 2025, by BCB Resolution No. 447, of December 19, 2024.)

Art. 4. The institution mentioned in art. 1, caput, may designate a portion of PR for exclusive application in credit operations with public sector entities, which will not be considered for the purposes of the limit referred to in art. 3, caput. (Amended, effective January 1, 2025, by BCB Resolution No. 447, of December 19, 2024.)

§ 1. The value corresponding to the designation mentioned in the caput will be deducted from PR, and the resulting PR will be considered for the calculation of all operational limits, including that provided for in art. 3.

§ 2. The exercise of the option provided for in the caput must be communicated to the Central Bank of Brazil in the manner defined by it.

§ 3. The outstanding balance of the credit operation mentioned in this article does not integrate the calculation base for the amount of risk-weighted assets (RWA), defined in specific regulation.

Art. 5. For the contracting of new credit operations, in accordance with this Resolution, the institution mentioned in art. 1, caput, must be within the operational limits established by current regulations. (Amended, effective January 1, 2025, by BCB Resolution No. 447, of December 19, 2024.)

Sole Paragraph. The provisions of the caput do not apply to credit operations that are the responsibility of or have formal and integral guarantee of the Union and that present linked and identical raising and application structures, regarding term and interest rate.

Art. 6. The provisions of this Resolution do not apply to credit operations carried out with Petróleo Brasileiro S.A. (Petrobras), its subsidiaries, and controlled companies.

Art. 7. This Resolution enters into force on July 1, 2023.

Otávio Ribeiro Damaso
Director of Regulation