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Rule · BCB · 15 Jun 1987 · Circular 1187

Circular No. 1187 - Recognition as Revenue at Contracting of Up to 15% of Agreed Yield in Consumer Financing Operations

credit

The Board of Directors of the Central Bank of Brazil authorized credit, financing, and investment societies to recognize as revenue at the time of contracting a portion of up to 15% of the total agreed yields in consumer financing operations. This authorization applies specifically to operations classified under direct user financing for goods and services, and user financing with intervention for goods and services, within the strict limits of the normative definitions of these accounts. The circular entered into force on the date of its publication.

BrazilBanco Central do Brasil

CIRCULAR NO. 001187

To
Credit, Financing, and Investment Societies

We communicate that the Board of Directors of the Central Bank of Brazil, in a session held on this date, based on Article 4, item XII, of Law No. 4,595, of December 31, 1964, by competence delegated by the National Monetary Council, decided that, at the time of contracting, a portion of up to 15% (fifteen percent) of the total of the agreed yields in operations of financing to the final consumer, classifiable under the headings DIRECT FINANCING TO THE USER - GOODS, DIRECT FINANCING TO THE USER - SERVICES, FINANCING TO THE USER WITH INTERVENTION - GOODS, and FINANCING TO THE USER WITH INTERVENTION - SERVICES, may be recognized as revenue, within the strict limits of the definitions and normative breakdowns of these accounts.

  1. This Circular shall enter into force on the date of its publication.

Brasília-DF, June 15, 1987

Luiz Aranha Corrêa do Lago
Director

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A newer document in RegAlert replaces this one.

Lei n.º 4.595, de 31 de dezembrode 1964 — dispõe sobre a política…1964 · BR-LAWLei n.º 4.595, de 31 de dezembro de 1964 — dispõe sobre a política e as instituições monetárias, bancárias e creditícias (establishes the National Financial System and the Banco Central do Brasil) (1964-12-31)Circular No. 1187 -Recognition as Revenue at Con…1987-06-15 · this documentCircular No. 1187 - Recognition as Revenue at Contracting of Up to 15% of Agreed Yield in Consumer Financing Operations (1987-06-15)Circular No. 1540 — Update of theAccounting Plan of the Institutio…1989 · BCBCircular No. 1540 — Update of the Accounting Plan of the Institutions of the National Financial System (COSIF) (1989-10-06)
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Amended 1 time · last 1989-10-06

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