Circular No. 3642 — Amending Circulars Nos. 3,354, 3,398, and 3,429 Regarding Trading Portfolio Classification and Information Submission for Cooperatives

CIRCULAR NO. 3,642, OF MARCH 4, 2013

Amends Circulars Nos. 3,354, of June 27, 2007, 3,398, of July 23, 2008, and 3,429, of January 14, 2009, which provide for the classification of operations in the trading portfolio and the submission of information to cooperatives that calculate the amount of risk-weighted assets in simplified form (RWARPS), as established in Resolution No. 4,194, of March 1, 2013.

The Collegiate Board of the Central Bank of Brazil, in an extraordinary session held on March 1, 2013, based on the provisions of Arts. 9, 10, item IX, and 11, item VII, of Law No. 4,595, of December 31, 1964, and Art. 2, paragraph 2, of Resolution No. 4,194, of March 1, 2013,

RESOLVES:

Art. 1. Art. 1 of Circular No. 3,354, of June 27, 2007, shall enter into force with the following wording:

"Art. 1. ............................................................................................................

Sole paragraph. The provisions of the main text do not apply to credit cooperatives that calculate the minimum requirements for Reference Equity (RE), Level I, and Principal Capital in the manner established by Resolution No. 4,194, of March 1, 2013." (NR)

Art. 2. Arts. 2 and 3 of Circular No. 3,398, of July 23, 2008, shall enter into force with the following wording:

"Art. 2. ............................................................................................................

§ 4. Single credit cooperatives that calculate the minimum requirements for Reference Equity (RE), Level I, and Principal Capital in the manner established by Resolution No. 4,194, of March 1, 2013, and that have, as of the reference date of September 30 of the previous year, total assets less than R$10,000,000.00 (ten million reais) are exempt from sending the information, provided that the obligation to prepare and maintain it available to the Central Bank of Brazil for a period of five years is maintained." (NR)

"Art. 3. ............................................................................................................

Sole paragraph. Credit cooperatives that calculate the minimum requirements for Reference Equity (RE), Level I, and Principal Capital in the manner established by Resolution No. 4,194, of 2013, must keep available to central credit cooperatives, or confederations, if applicable, for compliance with the special duties provided for in Chapter V of Circular No. 3,642, of March 4, 2013 Page 2 of 3

Resolution No. 3,859, of May 27, 2010, for the same period established in the main text, the data, methodology, and information submitted to the Central Bank of Brazil." (NR)

Art. 3. Art. 1 of Circular No. 3,429, of January 14, 2009, shall enter into force with the following wording:

"Art. 1. ............................................................................................................

§ 1. .................................................................................................................

III - credit cooperatives that calculate the minimum requirements for Reference Equity (RE), Level I, and Principal Capital in the manner established by Resolution No. 4,194, of March 1, 2013;
..........................................................................................................................

V - financial institutions whose share of risk-weighted assets (RWA), in the thirty business days immediately preceding the respective reference date, is less than R$30,000,000.00 (thirty million reais) and 0.5 (five tenths) of Reference Equity (RE) defined in terms of Resolution No. 4,192, of March 1, 2013.
..........................................................................................................................

§ 4. The institutions mentioned in items I to III of § 1 are exempt from preparing the information referred to in the main text of this article." (NR)

Art. 4. The provisions of Circular No. 3,365, of September 12, 2007, do not apply to credit cooperatives that calculate the minimum requirements for Reference Equity (RE), Level I, and Principal Capital in the manner established by Resolution No. 4,194, of March 1, 2013.

Art. 5. The value of total assets cited in Art. 3, item I, of Resolution No. 4,194, of 2013, which will be considered for the period from January to December, is the amount calculated as of the reference date of September 30 of the previous year.

§ 1. For the purposes of the calculation mentioned in the main text, total assets are defined as the sum of current and long-term receivables with permanent assets.

§ 2. The Department of Supervision of Cooperatives and Non-Bank Institutions (Desuc) may request that the calculation of total assets use as a reference date the date of the last balance sheet or financial statement submitted by the credit cooperative to the Central Bank of Brazil.

§ 3. For credit cooperatives in the initial phase of operations, the reference date for the start of operations referred to in Art. 4, item I, of Resolution No. 4,194, of 2013, is the reference date of the submission to the Central Bank of Brazil by the institution of the first accounting statement.

Circular No. 3,642, of March 4, 2013 Page 3 of 3

§ 4. For credit cooperatives in the initial phase of operations, or resulting from a merger or spin-off process, the calculation referred to in the main text will be based on the financial statement, if referring to the months of June or December, or balance sheets, in other cases.

Art. 6. The communication referred to in Art. 14 of Resolution No. 4,194, of 2013, must be sent to the Department of Monitoring of the Financial System (Desig), in the manner established by it, producing effects from the reference date of the month of its realization.

Art. 7. The approvals referred to in Arts. 15 and 16 of Resolution No. 4,194, of 2013, must be requested by the financial institution through a petition addressed to Desuc, in the manner established by it.

Art. 8. This Circular enters into force on October 1, 2013.

Art. 9. Circular No. 3,508, of October 15, 2010, is revoked, effective October 1, 2013.

Luiz Awazu Pereira da Silva
Director of Regulation of the Financial System

This text does not replace the published in the DOU of 3/6/2013, Section 1, p. 19/20, and in Sisbacen.