BCB Resolution No. 371 — Amends BCB Resolution No. 308 to Establish Quorum for Decision-Making in the Elaboration and Amendment of the Convention for the Exercise of Activities of Registration and Centralized Deposit of Real Estate Receivables

BCB RESOLUTION
NO. 371, OF MARCH 26, 2024

Amends BCB Resolution No. 308, of March 28, 2023, to establish quorum for decision-making in the elaboration and amendment of the convention for the exercise of activities of registration and centralized deposit of real estate receivables.

The Collegiate Board of the Central Bank of Brazil, in a session held on March 26, 2024, based on arts. 9 of Law No. 4.595, of December 31, 1964, 22, item II, and 28, item II, of Law No. 12.810, of May 15, 2013,

R E S O L V E:

Art. 1º BCB Resolution No. 308, of March 28, 2023, shall enter into force with the following alterations:

“Art. 12.
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§ 5º Registrars and central depositories of financial assets that are not signatories to the convention must adhere to the terms agreed therein as a condition for the exercise of registration and centralized deposit activities of real estate receivables, at the time of the request for authorization submitted to the Central Bank of Brazil.

§ 6º Upon adhering to the convention, in accordance with § 5º, registrars and central depositories of financial assets are equated to the respective signatories for the purposes of this Resolution.

§ 7º The processes for elaboration and amendment of the convention, and of the respective manuals, must observe the following quorums for the purpose of decision-making on the content to be submitted for approval by the Central Bank of Brazil or communicated to it:

I - a qualified majority of two-thirds of the institutions eligible to participate in the elaboration or amendment process, in the case of matters listed in items VII, IX, and XIV of art. 13; and

II - an absolute majority of the institutions eligible to participate in the elaboration or amendment process, in other cases.” (NR)

“Art. 14.
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§ 5º The conventions and their respective amendments, including their manuals, submitted for approval by the Central Bank of Brazil, or communicated to it, without compliance with the provisions of art. 12, § 7º, and art. 13, shall be returned without merit analysis, in which case the Central Bank of Brazil shall set a deadline of up to 90 (ninety) days to resolve the identified pending issues, without prejudice to the eventual application of coercive and sanctioning measures provided for in the legislation.

§ 6º Signatory institutions must present, at the time of submission of the convention, including its manuals, and of their respective amendments for approval by the Central Bank of Brazil, or communicated to it:

I - minutes or equivalent documents that record the votes cast in the decision-making process, in accordance with the quorums provided for in art. 12, § 7º, items I and II; and

II - documents proving the legitimacy and full powers, without restrictions or limits, of the representatives of the signatories of the convention, designated in the bylaws or articles of association.” (NR)

“Art. 17.
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§ 1º Participation in the homologation testing cycles is limited to signatory registrars and central depositories of the convention that meet the requirements established in art. 16.

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(NR)

Art. 2º The provisions of this Resolution also apply to convention approval processes under examination by the Central Bank of Brazil.

Art. 3º This Resolution enters into force on April 1, 2024.

RENATO DIAS DE BRITO GOMES OTÁVIO
RIBEIRO DAMASO
Director of System Organization Director and Resolution of the Financial System of Regulation