BCB Resolution No. 379 — Amends Resolution BCB No. 188 to establish deductions from compulsory reserve requirements based on the public calamity state

BCB RESOLUTION NO. 379, OF MAY 13, 2024

Amends Resolution BCB No. 188, of February 23, 2022, which establishes the compulsory collection on savings deposit resources, to establish deductions from the requirement based on the public calamity state governed by Legislative Decree No. 36, of May 7, 2024.

The Collegiate Board of the Central Bank of Brazil, in an extraordinary session held on May 13, 2024, based on art. 10, items III and IV, of Law No. 4.595, of December 31, 1964, and art. 66 of Law No. 9.069, of June 29, 1995,

RESOLVES:

Art. 1º Resolution BCB No. 188, of February 23, 2022, shall be amended as follows:

“Art. 6º Financial institutions that have registered in the Central Bank’s Credit Information System (SCR), using form Document 3040 (credit risk data), as of the reference date of March 31, 2024, a minimum of 10% (ten percent) of their total volume of credit granted to individuals residing or legal entities established in municipalities covered by the public calamity state governed by Legislative Decree No. 36, of May 7, 2024, are entitled to a 100% (one hundred percent) deduction on the requirements for savings deposit resources in the free and rural modalities, calculated in the manner of art. 5º.

§ 1º The provision in the caput of this article shall be observed starting from the calculation period beginning on May 13, 2024, and ending on May 17, 2024, whose adjustment will occur on May 27, 2024.

§ 2º Starting from the calculation period beginning on June 2, 2025, and ending on June 6, 2025, whose adjustment will occur on June 16, 2025, the value of the deduction referred to in the caput shall be progressively reduced, for each new calculation period, by a value equivalent to 5% (five percent) of the requirement generated in the period, until its extinction.” (NR)

Art. 2º Items I, II, and III of the caput and §§ 3º to 6º of art. 6º of Resolution BCB No. 188, of 2022, are hereby revoked.

Art. 3º This Resolution enters into force on the date of its publication.

DIOGO
ABRY GUILLEN

Monetary Policy Director substitute