Central Bank of Brazil Instruction Normative No. 458 of March 25, 2024

CENTRAL BANK OF BRAZIL INSTRUCTION NORMATIVE NO. 458, OF MARCH 25, 2024

Amends Instruction Normative BCB No. 296, of August 22, 2022, which consolidates the instructions for the registration of operations in the Credit Operations Registration System with the Public Sector (Cadip).

The Head of the Financial System Monitoring Department (Desig), in the exercise of the authority conferred upon him by Article 23, item I, letter “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, based on Article 85, item IV, of the aforementioned Regulations, and having in view the provisions of CMN Resolutions Nos. 4,995, of March 24, 2022, and 5,115, of January 25, 2024, and BCB Resolution No. 196, of March 9, 2022,

RESOLVES:

Article 1. Article 6 of Instruction Normative BCB No. 296, of August 22, 2022, shall be effective with the following wording:

“Article 6. ............................................................................................................

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V - UG modality - operations referred to in Article 8, § 1º, of CMN Resolution No. 4,995, of 2022 - With Union guarantee, carried out with Empresa Brasileira de Participações em Energia Nuclear e Binacional S/A – ENBPar;

VI - US modality - operations referred to in Article 8, § 1º, of CMN Resolution No. 4,995, of 2022 - Without Union guarantee, carried out with Eletrobras Termonuclear S/A – Eletronuclear;

VII - PG modality - operations referred to in Article 8, § 1º, of CMN Resolution No. 4,995, of 2022 - With Union guarantee, included within the scope of the Novo PAC;

VIII - NP modality - operations referred to in Article 8, § 1º, of CMN Resolution No. 4,995, of 2022 - Without Union guarantee, included within the scope of the Novo PAC; or

IX - 3P modality - operations referred to in Article 8, § 1º, of CMN Resolution No. 4,995, of 2022 - With Union guarantee, relating to contracts within the scope of Public-Private Partnerships (PPPs).”

(NR)

Article 2. This Instruction Normative BCB enters into force on April 1, 2024.

ANDRÉ MAURÍCIO TRINDADE DA ROCHA

NOTE

1. The Credit Operations Registration System with the Public Sector (Cadip), regulated by BCB Resolution No. 196, of March 9, 2022, is an instrument for capturing registration information and recording defaults, with the objective of allowing the monitoring of the annual global limits of credit operations carried out by financial institutions and other institutions authorized to operate by the Central Bank of Brazil with the public sector, and Instruction Normative BCB (IN BCB) No. 296, of August 22, 2022, presents, in a synthetic manner, the procedures necessary for the registration of these operations in Cadip.

2. With the objective of adapting IN BCB No. 296, of 2022, and Cadip, from the normative and operational points of view, respectively, to the changes made in CMN Resolution No. 4,995, of March 24, 2022, by CMN Resolution No. 5,115, of January 25, 2024, this IN BCB promotes the following adjustments:

i) amendment of wording in the UG (Article 6, item V) and US (Article 6, item VI) modalities;

ii) inclusion of the PG (Article 6, item VII) and NP (Article 6, item VIII) modalities, to record operations included within the scope of the Novo PAC, with and without Union guarantee, respectively;

iii) inclusion of the 3P modality (Article 6, item IX), to record operations relating to contracts within the scope of Public-Private Partnerships (PPPs), with Union guarantee.

3. Decree No. 10,411, of June 30, 2020, regulates the carrying out of regulatory impact analysis (AIR) as a prerequisite for the issuance of normative acts. However, in its Article 4º, it establishes the hypotheses for dispensing with the carrying out of AIR. This Instruction Normative falls under the hypotheses of items II and III, namely: II - normative act intended to discipline rights or obligations defined in a hierarchically superior norm that does not allow, technically or legally, different regulatory alternatives; and III - normative act considered to be of low impact.

4. The classification of this IN under item II of Article 4º of Decree No. 10,411, of 2020, is justified given that the proposed changes aim to adapt the Cadip System to the creation of new limits resulting from the issuance of CMN Resolution No. 5,115, of 2024. Furthermore, as the Cadip System is the system used to monitor the credit limit with the public sector, it is understood that the creation of new modalities in the Cadip system is the most adequate way to receive information on operations relating to the new limits, as it is the simplest and lowest cost to implement, both for institutions and for this Central Bank, which also justifies its classification under item III of Article 4º of the aforementioned Decree.

5. Thus, based on the provisions in paragraphs 3 and 4, I understand that the issuance of this Instruction Normative is exempt from the carrying out of regulatory impact analysis.

André Maurício Trindade da Rocha
Head of the Financial System Monitoring Department (Desig)