Circular No. 1273 — Establishes the Accounting Plan of the Institutions of the National Financial System - COSIF, with implementation in the 1st semester/88

CIRCULAR NO. 001273

To
Financial Institutions and other Entities Authorized to Operate by the Central Bank of Brazil

We communicate that the Board of Directors of the Central Bank of Brazil, in a session held on 16.12.87, based on art. 4., item XII, of Law No. 4.595, of 31.12.64, by competence delegated by the National Monetary Council, decided to establish, for mandatory adoption starting from the Balance Sheet of 30.06.88, the annex ACCOUNTING PLAN OF THE INSTITUTIONS OF THE NATIONAL FINANCIAL SYSTEM - COSIF.

2. The norms embodied in COSIF apply to commercial banks, development banks, investment banks,
   credit, financing and investment companies, leasing companies, securities brokerage companies, securities distribution companies, real estate credit companies, savings and loan associations, savings banks and credit cooperatives.

3. The period between January and June 1988 is considered as implementation, and financial institutions must
   take the necessary measures so that their bookkeeping is in a position to provide, by 30.06.88, the indispensable data for the preparation of the financial statements required.

4. The following shall also be observed:

a) considering the base date of 30.06.88, the Analytical General Trial Balance (Doc. No. 01) shall be sent to the Central Bank, prepared according to the current accounting plans, or in the usual form, in the case of institutions that do not yet have standardized demonstrations by the Central Bank;

b) the financial statements provided for in COSIF shall be attached to the Analytical General Trial Balance, indicated in item 4.a, dispensing with the Statement of Sources and Applications of Resources - DOAR (Doc. No. 12);

c) the Statement of Sources and Applications of Resources - DOAR, relative to the Balance Sheet of 31.12.88, shall be prepared according to the patrimonial variations that affect the available funds in the period from 01.07 to 31.12.88;

d) the publication of financial statements in comparative form with those of other periods shall be waived, on 30.06 and 31.12.88.

Brasília-DF, December 29, 1987

Fernando Milliet de Oliveira
President

Obs: the annex of this regulation is available to interested parties at the Headquarters of the Central Bank of Brazil.