BCB Resolution No. 381 — Establishes temporary and exceptional measures applicable to the operation of consortium groups

BCB Resolution No. 381 permits consortium administrators, until December 31, 2024, to provide cash or account credit to members affected by climate events in Rio Grande do Sul who have been selected but not yet used their credit, provided all obligations are fully settled. Administrators may also delay collection and guarantee execution procedures beyond standard regulatory timelines, provided specific contractual conditions are met and procedures commence within one month after the deadline. This exception applies exclusively to members holding quotas in groups established before the resolution's effective date. Administrators must retain documentation proving compliance with these measures for a minimum of five years.

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BCB RESOLUTION NO. 381, OF MAY 15, 2024

Establishes temporary and exceptional measures applicable to the operation of consortium groups.

The Collegiate Board of the Central Bank of Brazil, in a session held on May 15, 2024, based on Articles 6 and 7 of Law No. 11,795, of October 8, 2008,

R E S O L V E S:

Article 1. Consortium administrators are permitted, on a temporary and exceptional basis, until December 31, 2024, exclusively for consortium members economically affected by climate events in the state of Rio Grande do Sul, subject to Legislative Decree No. 36, of May 7, 2024, holders of quotas in consortium groups constituted until the date of entry into force of this Resolution:

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This document amends: BCB Resolution No. 285 — Provisions on the Constitution and Operation of Consortium Groups, Circular No. 3432 — Provisions on the Constitution and Operation of Consortium Groups

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works