Central Bank of Brazil Instruction Normative No. 342 of January 2, 2023

This Instruction Normative amends Instruction Normative BCB No. 299 to specify the documents and justifications required for authorization requests regarding participation in or increases of share capital in domestic or foreign companies, the installation of foreign branches, and the authorization or cancellation of foreign exchange market operations. It mandates the submission of specific Sisorf forms and detailed justifications proving operational strategy alignment, economic-financial viability, and compliance with operational limits. The regulation also revokes Articles 1, 5, 6, 7, and 8 of Circular No. 2,981 of April 28, 2000, and enters into force upon publication.

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CENTRAL BANK OF BRAZIL INSTRUCTION NORMATIVE NO. 342, OF JANUARY 2, 2023

Amends
Instruction Normative BCB No. 299, of August 30, 2022, which disseminates procedures, documents, deadlines, and information necessary for the processing of authorization requests related to the operation of the institutions covered by CMN Resolution No. 4,970, of November 25, 2021.

The Head of the Department of Financial System Organization (Deorf), using the authority granted by Arts. 23, item I, clause “a”, and 96, item XII, of the Internal Regulations of the Central Bank of Brazil, annexed to Portaria No. 84.287, of February 27, 2015, based on Art. 15 of CMN Resolution No. 5,043, of November 25, 2022, and Art. 35 of BCB Resolution No. 277, of December 31, 2022,

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This document amends: Normative Instruction BCB No. 299 — Discloses procedures, documents, deadlines and information necessary for the instruction of authorization requests related to the functioning of institutions governed by CMN Resolution No. 4,970 of November 25, 2021

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