Circular No. 3878 — Amends Circulars No. 3,398 of July 23, 2008, No. 3,429 of January 14, 2009, and No. 3,742 of January 8, 2015

The Collegiate Board of the Central Bank of Brazil, in a session held on February 20, 2018, based on the provisions of Articles 9, 10, item IX, 11, item VII, and 37 of Law No. 4,595 of December 31, 1964, and considering the provisions of Resolutions No. 4,553 of January 30, 2017, and No. 4,606 of October 19, 2017,

R E S O L V E:

Art. 1 Circular No. 3,398 of July 23, 2008, shall enter into force with the following alterations:

“Art. 2 ........................................................

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§ 1 Financial institutions and other institutions authorized to operate by the Central Bank of Brazil classified in Segment 5 (S5), in accordance with Art. 2 of Resolution No. 4,553 of January 30, 2017, are exempt from preparing and transmitting the information referred to in this Circular.

............................................................” (NR)

“Art. 3 The institutions referred to in Art. 2, excluding those referred to in Art. 2, § 1, must keep available to the Central Bank of Brazil, for a period of five years, the data and methodology used for the preparation of the information transmitted.” (NR)

Art. 2 Circular No. 3,429 of January 14, 2009, shall enter into force with the following alteration:

“Art. 1 Financial institutions and other institutions authorized to operate by the Central Bank of Brazil classified in Segment 1 (S1), Segment 2 (S2), Segment 3 (S3), or Segment 4 (S4), in accordance with Resolution No. 4,553 of January 30, 2017, must prepare and transmit to the Central Bank of Brazil information regarding exposures to market risk and the calculation of minimum Reference Capital (PR) requirements.

Sole Paragraph. The institutions mentioned in the main text that were not subject, on the date prior to the entry into force of Resolution No. 4,606 of October 19, 2017, to the transmission of the information referred to in the main text, are obliged to transmit the information starting from the base date of May 2018.” (NR)

Art. 3 Circular No. 3,742 of January 8, 2015, shall enter into force with the following alteration:

“Art. 1 Financial institutions and other institutions authorized to operate by the Central Bank of Brazil classified in Segment 1 (S1), Segment 2 (S2), Segment 3 (S3), or Segment 4 (S4), in accordance with Resolution No. 4,553 of January 30, 2017, must prepare and transmit to the Central Bank of Brazil daily information regarding:

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Sole Paragraph. The institutions mentioned in the main text that were not subject, on the date prior to the entry into force of Resolution No. 4,606 of October 19, 2017, to the transmission of the information referred to in the main text, are obliged to transmit the information starting from June 1, 2018.” (NR)

Art. 4 Article 2 of Circular No. 3,742 of 2015 is repealed.

Art. 5 This Circular enters into force on the date of its publication.

         Paulo Sérgio Neves de Souza          Otávio Ribeiro Damaso Director of Supervision              Director of Regulation