Circular No. 2158 — Establishes Complementary Procedures for Monetary Correction and Preparation and Submission of Financial Statements

CIRCULAR NO. 002158

TO
FINANCIAL INSTITUTIONS AND OTHER ENTITIES
AUTHORIZED TO OPERATE BY THE CENTRAL BANK

ESTABLISHES COMPLEMENTARY PROCEDURES
FOR MONETARY CORRECTION, PREPARATION
AND SUBMISSION OF FINANCIAL STATEMENTS, IN ACCORDANCE WITH THE PROVISIONS OF ARTS. 38 AND 51 OF LAW NO. 8,383, OF 12/30/91.

WE COMMUNICATE THAT THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, IN A SESSION HELD ON 04/08/92, HAVING IN VIEW THE PROVISIONS OF ARTS. 38 AND 51 OF LAW NO. 8,383, OF 12/30/91, AND BASED ON ART. 4, PARAGRAPH XII, OF LAW NO. 4,595, OF 12/31/64, BY COMPETENCE DELEGATED BY THE MONETARY NATIONAL COUNCIL, DECIDED:

ART. 1. FOR THE PURPOSE OF PREPARATION AND SUBMISSION OF MONTHLY BALANCE SHEETS FROM 01/01/92, THE USUAL PROCEDURES OF EVALUATION AND APPROPRIATION PROVIDED FOR IN THE ACCOUNTING PLAN OF THE INSTITUTIONS OF THE NATIONAL FINANCIAL SYSTEM - COSIF, MUST BE OBSERVED, THEREFORE NOT REQUIRING THE FORMAL CLOSURE OF REVENUE AND EXPENSE ACCOUNTS.

ART. 2. MONTHLY, THE DIFFERENTIAL
DETERMINED BETWEEN REVENUE AND EXPENSE, CREDIT RESULT ACCOUNTS GROUPS, CODE 7.0.0.00.00-9, AND DEBIT RESULT ACCOUNTS, CODE 8.0.0.00.00-6, OF COSIF, IN RESULT DETERMINATION, CODES 7.9.1.10.00-0, OR 8.9.1.10.00-7, AS THE CASE MAY BE, SHALL BE RECORDED, HAVING AS THE COUNTERPART THE TITLE ACCUMULATED PROFITS OR LOSSES OR SURPLUSES OR ACCUMULATED LOSSES, WITH SEGREGATION OF MONTHLY RESULTS IN SUB-TITLES FOR INTERNAL USE.

PARAGRAPH 1. THE BALANCE OF THE TITLE RESULT DETERMINATION SHOULD NOT APPEAR IN THE HALF-YEAR/FISCAL YEAR RESULT STATEMENT (DOCUMENT NO. 8).

PARAGRAPH 2. THE RESULT DETERMINED EACH MONTH
MUST BE MONETARILY CORRECTED FROM THE FOLLOWING MONTH, IN SUCH A WAY THAT THE BALANCES OF PREVIOUS MONTHS ARE UPDATED AS A COUNTERPART TO THE BALANCE OF THE CURRENT MONTH, SENSITIZING EXCLUSIVELY THE INTERNAL USE SUB-TITLES OF ACCUMULATED PROFITS OR LOSSES OR SURPLUSES OR ACCUMULATED LOSSES, WITHOUT USING THE MONETARY CORRECTION RESULT ACCOUNT.

PARAGRAPH 3. THE EFFECT OF MONETARY CORRECTION INCIDENT ON THE RESULT DETERMINED IN THE 1ST HALF MUST BE COMPUTED IN THE 2ND HALF.

PARAGRAPH 4. THE ITEM RESULT DETERMINATION, CODE 750, IS CREATED, FOR THE PURPOSE OF BANKING STATISTICS - ESTBAN, WITH THE FUNCTION OF EXCLUSIVELY HOLDING THE BALANCE OF RESULT DETERMINATION, CODES 7.9.1.10.00-0 AND 8.9.1.10.00-7.

ART. 3. FINANCIAL INSTITUTIONS AND OTHER ENTITIES AUTHORIZED TO OPERATE BY THIS AGENCY, THAT HAVE ADOPTED A DIFFERENT PROCEDURE, MUST MAKE THE ADJUSTMENTS INVOLVED IN THE BALANCE SHEET OF THE BASE DATE 03/31/92, WITH A VIEW TO REFLECTING THE CUMULATIVE EFFECTS RELEVANT TO THE BALANCE SHEETS OF THE BASE DATES 01/31/92 AND 02/29/92.

ART. 4. THIS CIRCULAR ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION.

BRASÍLIA (DF), APRIL 10, 1992

GUSTAVO JORGE LABOISSIÈRE LOYOLA
DIRECTOR