BCB Resolution No. 373 — Amends BCB Resolution No. 264 to Establish Quorum for Decision-Making on Amendments to the Convention Among Registrant Entities

BCB RESOLUTION NO. 373, OF MARCH 26, 2024

Amends
BCB Resolution No. 264, of November 25, 2022, to establish quorum for decision-making on amendments to the convention among registrant entities.

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, 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. 264, of November 25, 2022, shall enter into force with the following alterations:

“Art. 18.
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§ 6º-A Upon adhering to the convention, in accordance with § 6º, registrant entities of financial assets shall be equated to their respective signatories for the purposes of this Resolution.

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“Art. 23. ............................................................................................................

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

I - a qualified majority of two-thirds of the institutions eligible to participate in the amendment process, in the case of the matters listed in items V, VII, and IX of art. 18; and

II - an absolute majority of the institutions eligible to participate in the amendment process, in all other cases.

§ 8º The signatory institutions must present, upon submission of the amendments to the content of the convention, including its manuals, for approval by the Central Bank of Brazil, or communicated to it, the following documents:

I - minutes or equivalent documents that record the votes cast in the manner provided for in § 7º, items I and II; and

II - documentary evidence of the legitimacy and full powers, without restrictions or limits, of the representatives of the signatories of the convention, appointed in the bylaws or articles of association.

§ 9º 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. 18 and art. 23 shall be returned without analysis of merit, in which case the Central Bank of Brazil shall set a deadline of up to ninety days to resolve the identified pending issues, without prejudice to the eventual application of coercive and sanctioning measures provided for in legislation.” (NR)

Art. 2º The provisions of this Resolution also apply to the processes of approval of conventions under review at the Central Bank of Brazil.

Art. 3º This Resolution enters into force on May 2, 2024.

RENATO DIAS DE BRITO GOMES OTÁVIO RIBEIRO DAMASO

Director of System Organization Director of Regulation Financial and Resolution