RegAlert2002-01-30 | Circular 3082Added
Circular No. 3082 — Establishes and Consolidates Criteria for the Accounting Recording and Valuation of Derivative Financial Instruments
The Central Bank of Brazil establishes accounting recording and valuation criteria for derivative financial instruments held by financial institutions, requiring market value assessments at least monthly and at balance sheet dates. The regulation mandates specific classification for hedging activities into market risk or cash flow hedges, subject to strict effectiveness testing between 80% and 125% and detailed documentation. Institutions must disclose qualitative and quantitative information regarding their derivative strategies, risk management, and financial impacts in their financial statement notes. The circular repeals previous regulations and mandates transitional adjustments to accumulated profits or losses, effective from June 30, 2002.
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CIRCULAR NO. 003082
Establishes and Consolidates Criteria for the Accounting Recording and Valuation of Derivative Financial Instruments.
The Collegiate Board of the Central Bank of Brazil, in a session held on January 30, 2002, based on Article 4, item XII, of Law No. 4,595 of December 31, 1964, by competence delegated by the National Monetary Council, by act of July 19, 1978, and having in view the provisions of Article 22 of Law No. 6,385 of December 7, 1976, with the changes introduced by Article 14 of Law No. 9,447 of March 14, 1997,
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Lineage: Superseded
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Amended 2 times · last 2023-08-24
Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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