BCB RESOLUTION NO. 444, OF DECEMBER 12, 2024

Amends Resolution BCB No. 234, of July 27, 2022, which provides for the establishment and operation of consortium administrators.

The Collegiate Board of the Central Bank of Brazil, in a session held on December 12, 2024, based on Arts. 6 and 7, caput, item III, of Law No. 11,795, of October 8, 2008,

RESOLVES:

Art. 1 Resolution BCB No. 234, of July 27, 2022, published in the Official Gazette of the Union on July 29, 2022, shall enter into force with the following alterations:

“Art. 8

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Sole Paragraph. For the purposes of calculating the leverage limit referred to in item I of the caput:

I - the value corresponding to the balance of passive operations shall have subtracted, until December 31, 2027, the value related to revenues from administrative fees received in advance in accordance with the regulations, recognized accounting-wise in the administrator's liabilities, observing the following percentages and schedule:

a) 100% (one hundred percent) of the balance of the respective revenues until December 31, 2025;

b) 60% (sixty percent) of the balance of the respective revenues between January 1, 2026, and December 31, 2026; and

c) 30% (thirty percent) of the balance of the respective revenues between January 1, 2027, and December 31, 2027; and

II - the value corresponding to Adjusted Net Worth shall have subtracted, starting January 1, 2026, the value related to any participations of the consortium administrator held in the capital of other companies.” (NR)

Art. 2 This Resolution enters into force on the date of its publication.

OTÁVIO RIBEIRO DAMASO
Director of Regulation