BCB Resolution No. 411 — Conditions for Centralized Deposit of Development Credit Notes (LCD) in Entities Authorized by the Central Bank of Brazil

RESOLUTION
BCB NO. 411, OF SEPTEMBER 19, 2024

Provides for the conditions for the centralized deposit of Development Credit Notes – LCD in an entity authorized by the Central Bank of Brazil.

The Collegiate Board of the Central Bank of Brazil, in a session held on September 19, 2024, based on arts. 9 and 10, caput, item IX, of Law No. 4.595, of December 31, 1964, and 22 of Law No. 12.810, of May 15, 2013, and considering the provisions of arts. 1, § 2, of Law No. 14.937, of July 26, 2024, and 5, 6, and 11 of CMN Resolution No. 5.169, of August 22, 2024,

R E S O L V E S:

Art. 1. This Resolution regulates the conditions for the centralized deposit of Development Credit Notes – LCD in an entity authorized by the Central Bank of Brazil to exercise the activity of centralized deposit of financial assets.

Art. 2. The LCD must contain, at minimum, the following characteristics and provisions, informed in the constitutive record of the title in the system of the central depository:

I - denomination Development Credit Note;

II - identification of the issuing institution;

III - identification of the holder;

IV - serial number, place, and date of issuance;

V - nominal value;

VI - maturity date;

VII - interest rate, fixed or floating, capitalization admitted;

VIII - clauses that establish other forms of remuneration, inclusive based on indices or rates of public knowledge, or of monetary adjustment, if applicable;

IX - form and periodicity of capitalization and, if applicable, of monetary adjustment;

X - form, periodicity, and place of payment;

XI - description of the real guarantee, if applicable; and

XII - identification code of the guarantee basket, if the LCD is issued with real guarantee.

Art. 3. In the event that the
LCD is issued with real guarantee, the centralized deposit system in which the LCD is deposited must contain, at minimum, the following information regarding the credit rights included in the guarantee basket linked to the LCD:

I - title denomination;

II - creditor identification;

III - debtor identification;

IV - custodian identification;

V - date of title formalization;

VI - maturity date;

VII - balance or nominal value, on the date of linkage;

VIII - linkage date;

IX - interest rate and other bases of remuneration or monetary adjustment;

X - form and periodicity of capitalization and, if applicable, of monetary adjustment;

XI - guarantee modality, if applicable; and

XII - form and periodicity of amortization.

§ 1. In the event that the credit right linked to the LCD is a title representative of debts and liabilities classified as credit operations, in accordance with the legislation and regulation in force, the system referred to in the caput must additionally contain the following information:

I - contract code in the Credit Information System – SCR;

II - modality and submodality codes in the SCR;

III - Standardized Identifier of Credit Operation – IPOC; and

IV - “Ref Bacen” code in the Rural Credit and Proagro Operations System – Sicor, when applicable.

§ 2. The format of the information referred to in the caput must be compatible with the format of those sent to the Credit Information System, and with those registered in the Rural Credit and Proagro Operations System, when applicable, even if these information are not provided to these systems individually.

§ 3. The issuing institution of the LCD must update the information referred to in the caput and § 1 in the cases of inclusion, exclusion, and substitution of credit rights guarantors.

Art. 4. This Resolution enters into force on the date of its publication.

OTÁVIO RIBEIRO DAMASO
Director of Regulation