Circular No. 3233 — Creates and excludes titles and subtitles in Cosif for controlling credit operations with FGC, tax credits, and linked active operations

CIRCULAR NO. 003233

Creates and excludes titles and subtitles in Cosif for controlling credit operations carried out by financial institutions with the Credit Guarantee Fund - FGC, tax credits, and linked active operations.

The Collegiate Board of the Central Bank of Brazil, in a session held on April 7, 2004, based on arts. 9 and 10, item IX, of Law 4.595, of December 31, 1964, renumbered by Law 7.730, of January 31, 1989, and considering the provisions of Resolutions 2.921, of January 17, 2002, 3.059, of December 20, 2002, and 3.161, of December 18, 2003, and Circular 3.203, of September 4, 2003,

DECIDED:

Art. 1. Create, in the Accounting Plan of the Institutions of the National Financial System - Cosif, the following accounting titles and subtitles:

I - with attributes UBDIFSWELMZ and code ESTBAN 300 and 800, respectively:

3.0.9.51.00-2 CREDIT OPERATIONS - FGC
9.0.9.51.00-4 FGC - CREDIT OPERATIONS;

II - with attributes UBIFALMZ and code ESTBAN 300:

3.0.9.62.00-8 LINKED ACTIVE OPERATIONS
3.0.9.62.50-3 Weighting Factor 50%
3.0.9.62.90-5 Weighting Factor 100%

3.0.9.63.00-7 RESOURCES LINKED TO ACTIVE OPERATIONS;

III - with attributes UBDKIFJACTSWERLMNZ and code ESTBAN 300:

3.0.9.89.10-8 Tax Credits Originated from Supervenience of Depreciation 3.0.9.89.30-4 Tax Credits Excluded from Level I of PR;

IV - with attributes UBIFALMZ and code ESTBAN 800:

9.0.9.62.00-0 LINKED OPERATIONS - ASSET
9.0.9.63.00-9 ACTIVE OPERATIONS - LINKED RESOURCES.

Art. 2. The nomenclature of the following accounting titles in Cosif is hereby altered to:

3.0.9.89.00-5 TAX CREDITS - LIMITS
9.0.9.89.00-7 LIMITS OF TAX CREDITS.

Art. 3. The following functions are defined for the accounting titles created in Art. 1:

I - CREDIT OPERATIONS - FGC, code 3.0.9.51.00-2, is intended for the recording, for risk weighting purposes, of credit operations carried out by financial institutions with the Credit Guarantee Fund - FGC, having as the counterpart the title FGC - CREDIT OPERATIONS, code 9.0.9.51.00-4, without prejudice to the adequate recording in equity accounts;

II - LINKED ACTIVE OPERATIONS, code 3.0.9.62.00-8, and LINKED OPERATIONS - ASSET, code 9.0.9.62.00-0, are intended for the recording of linked active operations, in accordance with Resolution 2.921, of January 17, 2002, classifying them in the accounting subtitles according to the risk weighting factor received in equity accounts;

III - RESOURCES LINKED TO ACTIVE OPERATIONS, code 3.0.9.63.00-7, and ACTIVE OPERATIONS - LINKED RESOURCES, code 9.0.9.63.00-9, are intended for the recording of the raising of resources linked to active operations, in accordance with Resolution 2.921, of 2002.

Art. 4. The accounting titles TAX CREDITS - LIMITS, code 3.0.9.89.00-5, and LIMITS OF TAX CREDITS, code 9.0.9.89.00-7, shall henceforth have the function of recording, for control purposes, tax credits, observed that:

I - in the subtitle Tax Credits Originated from Supervenience of Depreciation, code 3.0.9.89.10-8, values related to tax credits originated from fiscal losses caused by the exclusion of revenues from the supervenience of depreciation of assets subject to leasing operations must be recorded, up to the limit of the corresponding deferred tax obligations, registered in the title 4.9.4.30.00-2 PROVISION FOR DEFERRED TAXES AND CONTRIBUTIONS;

II - in the subtitle Tax Credits Excluded from Level I of PR, code 3.0.9.89.30-4, values related to tax credits excluded for the calculation of Level I of Reference Equity (PR), as provided for in Art. 1 of Resolution 2.837, of May 30, 2001, must be recorded, for risk weighting purposes.

Art. 5. The following subgroups and accounting titles are hereby excluded from Cosif:

1.6.7.00.00-2 Linked Credit Operations
1.6.7.10.00-9 LINKED CREDIT OPERATIONS

1.7.7.00.00-1 Linked Leasing Operations
1.7.7.10.00-8 LINKED LEASING OPERATIONS

4.9.9.57.00-4 OBLIGATIONS FOR LINKED ACTIVE OPERATIONS.

§ 1. Any balances registered in these subgroup and accounting title breakdowns must be reclassified to the appropriate accounting items representing the rights and obligations of the operations.

§ 2. The code 170 - Linked Credit Operations must be excluded from the Monthly Banking Statistics document, code 4500, and Global Banking Statistics, code 4510.

Art. 6. Disclosure in explanatory notes to the accounting statements of information including, at a minimum, the following items is mandatory:

I - balance of linked active operations and resources raised for application in these operations, classified in detail by nature regarding their recording in equity accounts;

II - total income, expenses, and net result of linked operations;

III - total non-performing linked active operations;

IV - existence of judicial questioning regarding linked active operations or regarding resources raised for application in these operations.

Art. 7. The following alterations must be made in the Asset Classification Table referred to in Art. 2, § 1, of the Annex to Resolution 2.099, of August 17, 1994, and subsequent alterations:

I - exclude the accounting titles:

1.6.7.10.00-9 LINKED CREDIT OPERATIONS
1.7.7.10.00-8 LINKED LEASING OPERATIONS;

II - include, with a negative sign and a weighting factor of 50% (fifty percent), the accounting title and subtitle:

3.0.9.51.00-2 CREDIT OPERATIONS - FGC
3.0.9.62.50-3 Weighting Factor 50%;

III - include, with a negative sign and a weighting factor of 100% (one hundred percent), the accounting subtitle Weighting Factor 100%, code 3.0.9.62.90-5;

IV - include, with a negative sign and a weighting factor of 300% (three hundred percent), the accounting subtitle Tax Credits Excluded from Level I of PR, code 3.0.9.89.30-4.

Art. 8. The following alterations must be made in the Consolidated Economic-Financial Report - Conef, document 5 of Cosif:

I - exclusion of the following titles:

10.6.1.75.00-4 LINKED CREDIT OPERATIONS
10.6.2.70.00-2 LINKED LEASING CREDITS;

II - creation of the following titles and subtitles:

30.9.5.00.00-5 CREDIT OPERATIONS - FGC

30.9.8.90.10-0 Tax Credits Originated from Supervenience of Depreciation 30.9.8.90.30-6 Tax Credits Excluded from Level I of PR

30.9.8.20.00-8 LINKED ACTIVE OPERATIONS
30.9.8.20.50-3 Weighting Factor 50%
30.9.8.20.90-5 Weighting Factor 100%

30.9.8.90.30-6 Tax Credits Excluded from Level I of PR;

III - modification of the nomenclature of title 30.9.8.90.00-7 to TAX CREDITS - LIMITS.

Art. 9. The following aggregations must be made in the document Annex II to Circular-Note 2.918, of June 15, 2000:

I - the title 3.0.9.51.00-2 into 30.9.5.00.00-5;

II - the subtitle 3.0.9.62.50-3 into 30.9.8.20.50-3;

III - the subtitle 3.0.9.62.90-5 into 30.9.8.20.90-5;

IV - the title 3.0.9.63.00-7 into 30.9.9.00.00-7;

V - the subtitle 3.0.9.89.10-8 into 30.9.8.90.10-0;

VI - the subtitle 3.0.9.89.30-4 into 30.9.8.90.30-6.

Art. 10. This circular enters into force on the date of its publication.

Brasília, April 8, 2004.

Sérgio Darcy da Silva Alves
Director