BCB Resolution No. 426 — Amends Resolutions BCB Nos. 145, 188, and 189 Regarding Compulsory Deposit Rules and Revokes Circular No. 3,380

Resolution No. 426

BCB RESOLUTION NO. 426, OF OCTOBER 16, 2024

Amends BCB Resolutions Nos. 145, of September 24, 2021, and 188 and 189, of February 23, 2022, which provide for rules on compulsory deposits, and revokes Circular No. 3,380, of March 20, 2008, which provides for the application of prerogatives and obligations to foreign exchange, investment, and multiple banks without a commercial portfolio.

The Collegiate Board of the Central Bank of Brazil, in a session held on October 16, 2024, based on art. 10, caput, 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,

R E S O L V E:

Art. 1º BCB Resolution No. 145, of September 24, 2021, published in the Official Gazette of the Union on September 27, 2021, shall enter into force with the following amendments:

“Art. 3º Subject to Deposit Value – VSR constitutes the sum of balances registered in the following accounting items of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil – Cosif:

I - 4.1.5.10.00.00-3 TIME DEPOSITS;

II - 4.3.1.10.00.00-1 OBLIGATIONS BY ACCEPTANCE OF FOREIGN EXCHANGE INSTRUMENTS;

..................................................................................................................................

IV - 4.2.1.10.80.00-4 Own Issuance Titles; and

V - 4.9.9.12.20.00-5 Linked to Operations Conducted with Abroad.

Sole Paragraph. The total balance of item 4.1.5.10.55.00-3 Contracted with Guarantee Funds – LC No. 101 and LC No. 130 does not constitute part of the VSR.” (NR)

“Art. 6º The exigibility, calculated in the manner of art. 5º, shall be deducted by the average, during the calculation period, of the value of the Total Financial Limit for operations of the Term Liquidity Line (LT.LLT) referred to in art. 6º of the Regulation Annex IV to BCB Resolution No. 374, of March 27, 2024.

..................................................................................................................................

§ 2º The value of LT.LLT, used in the calculation of the average, is that reported in the daily opening of the Liquidity Financial Lines system – LFL.” (NR)

“Art. 7º .....................................................................................................................

I - R$3,600,000,000.00 (three billion and six hundred million reais), for independent financial institutions or those part of a prudential conglomerate whose Level I of Reference Equity – RE is less than R$3,000,000,000.00 (three billion reais);

II - R$2,400,000,000.00 (two billion and four hundred million reais), for independent financial institutions or those part of a prudential conglomerate whose Level I of RE is equal to or greater than R$3,000,000,000.00 (three billion reais) and less than R$10,000,000,000.00 (ten billion reais);

III - R$1,200,000,000.00 (one billion and two hundred million reais), for independent financial institutions or those part of a prudential conglomerate whose Level I of RE is equal to or greater than R$10,000,000,000.00 (ten billion reais) and less than R$15,000,000,000.00 (fifteen billion reais); and

IV - 0 (zero), for independent financial institutions or those part of a prudential conglomerate whose Level I of RE is equal to or greater than R$15,000,000,000.00 (fifteen billion reais).

§ 1º For the purposes of the deduction provided for in this article, the Level I of RE relative to June 30, 2018, determined in the manner established by the CMN resolution that provides for the methodology for calculating RE, shall be considered for independent financial institutions or those part of a prudential conglomerate.

.........................................................................................................................” (NR)

“Art. 11. A financial institution that fails to observe the rules regarding the maintenance of a balance in the compulsory deposit account on time resources incurs the payment of a financial cost, which is due on the next business day after the deficiency is verified and calculated using the following formula:

I - Cvt = financial cost on the deficiency in the daily position verified on day “t”, expressed with two decimal places, with mathematical rounding;

II - s = Selic Rate of the date of the deficiency (“t”), expressed in unitary form, with four decimal places;

III - r = increase to the Selic Rate, corresponding to 4% (four percent) per year, expressed with four decimal places; and

IV - dvt = deficiency in the daily position of the compulsory deposit on day “t”, where dvt = E -St, for all St < E, where:

a) St = position of day “t” or closing balance of the respective deposit account on business day “t”; and

b) E = exigibility determined in the manner of arts. 5º to 7º for the respective movement period.

..................................................................................................................................

§ 5º A financial institution that presents a deficiency in the daily position of the compulsory deposit on time resources for three business days, consecutive or not, within a period of ten business days, shall immediately forward to the Department of Banking Operations and Payment Systems – Deban of the Central Bank of Brazil, justifications for the occurrence, regardless of the payment of the financial cost.” (NR)

“Art. 13-A. The supporting documentation of the information subject to this Resolution, unless otherwise provided, shall be kept available to the Central Bank of Brazil for a minimum period of five years, counted from the date to which each information refers.” (NR)

“Art. 14. The daily closing balance of the deposit account at the Central Bank of Brazil, limited to the value of the exigibility, shall receive remuneration calculated based on the Selic Rate, using the following formula:

I - R = remuneration to be credited, expressed with two decimal places, with mathematical rounding;

II - S = closing balance of the deposit account, limited to the value of the exigibility calculated in the manner of arts. 5º to 7º; and

III - Selic = Annual Selic Rate, in unitary format, expressed with four decimal places, referring to the date of the balance to be remunerated.

.........................................................................................................................” (NR)

Art. 2º BCB Resolution No. 188, of February 23, 2022, published in the Official Gazette of the Union on February 25, 2022, shall enter into force with the following amendments:

“Art. 3º ....................................................................................................................

I - 4.1.2.00.00.00-3 Savings Deposits; and

II - 6.1.1.60.00.00-8 APE - ASSOCIATE SAVINGS RESOURCES.

Sole Paragraph. Savings deposit balances are exempt from compulsory deposit on savings deposit resources.” (NR)

“Art. 13. The daily closing balance of the deposit account corresponding to each type of savings deposit, at the Central Bank of Brazil, is entitled to remuneration, credited to the respective deposit account by 4:30 pm on the next business day and calculated based on the Reference Rate– TR, plus the interest below, as follows:

.........................................................................................................................” (NR)

Art. 3º BCB Resolution No. 189, of February 23, 2022, published in the Official Gazette of the Union on February 25, 2022, shall enter into force with the following amendments:

“Art. 2º Multiple banks and investment banks holding a Bank Reserves account, foreign exchange banks holding a Bank Reserves account, commercial banks, and savings banks are subject to compulsory deposit on demand resources.

Sole Paragraph. For the purposes of calculating compulsory deposit, those captured by multiple banks, foreign exchange banks, investment banks, and credit, financing, and investment companies are also considered as demand resources, referred to in the caput, provided that these are not holders of a Bank Reserves account, in the case of the aforementioned banking institutions, that belong to a prudential conglomerate of an institution subject to compulsory deposit on demand resources.” (NR)

“Art. 3º Subject to Deposit Value – VSR, on each business day, constitutes the balances registered in the following accounting items of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil – Cosif:

I - 4.1.1.00.00.00-6 Demand Deposits;

II - 4.5.1.00.00.00-8 Third-Party Resources in Transit;

III - 4.9.1.00.00.00-0 Collection and Collection of Taxes and Similar;

IV - 4.9.9.05.00.00-1 ADMINISTRATIVE CHECKS;

V - 4.9.9.12.10.00-8 Linked to Operations Conducted in the Country;

VI - 4.9.9.27.00.00-5 PAYMENT OBLIGATIONS IN THE NAME OF THIRD PARTIES;

VII - 4.9.9.60.00.00-0 GUARANTEE RESOURCES REALIZED; and

VIII - 4.1.9.50.00.00-7 PAYMENT ORDERS IN NATIONAL CURRENCY.

..................................................................................................................................

§ 2º The values registered in item 4.5.1.00.00.00-8 Third-Party Resources in Transit, subject to the requirement, are balanced with their respective asset counterparts, except that those of predominantly debtor origin are not computed for the purpose of balancing.

.........................................................................................................................” (NR)

Art. 4º The following are revoked:

I - the following provisions of BCB Resolution No. 145, of September 24, 2021, published in the Official Gazette of the Union on September 27, 2021:

a) art. 3º, caput, item III; and

b) arts. 8º and 9º;

II - the following provisions of BCB Resolution No. 188, of February 23, 2022, published in the Official Gazette of the Union on February 25, 2022:

a) art. 13, caput, item II; and

b) art. 13, caput, item VIII;

III - art. 3º, § 1º, of BCB Resolution No. 189, of February 23, 2022, published in the Official Gazette of the Union on February 25, 2022; and

IV - Circular No. 3,380, of March 20, 2008, published in the Official Gazette of the Union on March 24, 2008.

Art. 5º This Resolution enters into force on January 1, 2025.

RODRIGO ALVES TEIXEIRA
Acting Director of Monetary Policy