Central Bank of Brazil Instruction Normative No. 552 of November 21, 2024

INSTRUCTION NORMATIVE BCB NO. 552, OF NOVEMBER 21, 2024

Amends
Instruction Normative BCB No. 520, of September 6, 2024, which establishes procedures for providing information regarding agricultural credit titles and credit rights by institutions operating financial market systems, and by financial institutions, with an extension of the start date for sending the file referred to in Article 5, Paragraph 1, of the cited regulation.

The Head of the Department of Regulation, Supervision and Control of Rural Credit and Proagro Operations (Derop), using the powers conferred upon him by Article 23, item I, letter “a”, of the Internal Regulations of the Central Bank of Brazil, published by Resolution BCB No. 419, of October 2, 2024, and considering the provisions of Article 5 and 6 of Law No. 4,829, of November 5, 1965, Article 27, Paragraph 2, of Law No. 11,076, of December 30, 2004, Article 3-B of Law No. 8,929, of August 22, 1994, Article 176 of the Regulation annexed to Resolution BCB No. 304, of March 20, 2023, Resolution BCB No. 392, of June 12, 2024, items 11, of Section 1 (General Provisions), 11, of Section 4 (Rural Savings), and 7, of Section 7 (Agricultural Credit Letter - LCA), all of Chapter 6 (Resources) of the Rural Credit Manual (MCR),

R E S O L V E :

Article 1. Instruction Normative BCB No. 520, of September 6, 2024, published in the Official Gazette of the Union on September 9, 2024, shall enter into force with the following alteration:

“Article 5. ..................................................................................................................

Paragraph 1. Financial registrars and central asset depositories must begin the daily transmission of the file starting from April 2, 2025.

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

Article 2. This Instruction Normative BCB enters into force on the date of its publication.

Claudio
Filgueiras Pacheco Moreira
Head of Derop

NOTE

The Instruction Normative (IN) BCB No. 520, of September 6, 2024, established procedures for providing information regarding agricultural credit titles and credit rights by institutions operating financial market systems, and by financial institutions. A period of 90 (ninety) days from the date of its publication was granted for financial registrars and central asset depositories to begin sending data files to the Central Bank of Brazil (BCB).

2. However, in monitoring the implementation of operational measures by financial institutions, the BCB verified that it is necessary to grant a longer period for the start of the validity of the regulation's effects, with the purpose of ensuring the reliability and quality of the information to be sent. Considering this, the present IN alters the deadline for the initial delivery of the aforementioned files to April 2, 2025.

3. It should be noted that, by virtue of Article 24 of Decree No. 10,411, of June 30, 2020, the issuance of normative acts by organs and entities of the direct, autarchic, and foundation federal administration, from October 14, 2021, must be preceded by a Regulatory Impact Analysis (RIA). However, in its Article 4, the aforementioned decree establishes the hypotheses for exemption from conducting an RIA. The present BCB IN, which consists of extending the deadline for the initiation of the effects of BCB IN No. 520, of 2024, falls under the hypothesis provided for in item V, letter “b”, of a normative act that aims to preserve liquidity, solvency, or soundness of the financial, capital, and foreign exchange markets, since the non-receipt of this information in a standardized and systematized manner makes it difficult to supervise the compliance of the titles used by financial institutions to fulfill the directives of the LCA and Rural Savings, generating risks to the soundness of the rural credit market. Thus, based on item V of Article 4 of Decree No. 10,411, of 2020, it is understood that the issuance of the present BCB IN exempts the conduct of an RIA.

Claudio
Filgueiras Pacheco Moreira
Head of Derop