2017-09-13 | Circular 3846

Added 2026-09-25

Circular No. 3846 — Establishes Procedures and Parameters for the Internal Capital Adequacy Assessment Process (ICAAP)

Institutions must implement an Internal Capital Adequacy Assessment Process (ICAAP) that evaluates capital sufficiency over a three-year horizon, covering credit, market, interest rate risk in the banking book, operational, strategy, reputation, and socio-environmental risks. The ICAAP requires annual reporting by April 30, independent validation at least every three years, and consideration of liquidity risk profiles and stress test results. The regulation supersedes Circular No. 3,547 of 2011 and takes effect upon publication.

Brazil

Banco Central do Brasil

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The Collegiate Board of the Central Bank of Brazil, in a session held on September 13, 2017, based on the provisions of Articles 9, 10, item IX, and 11, item VII, of Law No. 4,595, of December 31, 1964, and considering the provisions of Article 40, §§ 2 and 3, of Resolution No. 4,557, of February 23, 2017,

R E S O L V E:

Art. 1. This Circular regulates the Internal Capital Adequacy Assessment Process (ICAAP), as provided for in Article 40, § 2, item “a”, of Resolution No. 4,557, of February 23, 2017.

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Lineage: Amended

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Timeline

Amended 3 times · last 2026-03-24

2026-03-24BCBBCB Resolution No. 555 of March 24, 2026amends
2024-12-19BCBBCB Resolution No. 447 of December 19, 2024amends
2020-04-28BCBCircular No. 4012 - Changes the deadline for submitting annual ICAAP and ICAAP-Simp reports to the Central Bank of Brazil due to the economic impacts of Covid-19amends

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