Circular No. 4006 — Amends Circulars No. 3,644 of March 4, 2013, and No. 3,748 of February 27, 2015, Regarding Capital Requirements for Credit Risk Exposures Under the Standardized Approach

The Collegiate Board of Directors of the Central Bank of Brazil, in a session held on April 22, 2020, based on the provisions of Articles 9, 10, item IX, and 11, item VII, of Law No. 4,595 of December 31, 1964, Articles 3, paragraph 2, and 15 of Resolution No. 4,193 of March 1, 2013, and Article 1 of Resolution No. 4,615 of November 30, 2017,

R E S O L V E:

Art. 1 Circular No. 3,644 of March 4, 2013, shall enter into force with the following alterations:

“Art. 3 ......................................................

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§ 2 ..........................................................

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IX - the import letter of credit issued by the institution, linked to an import foreign exchange contract, provided that the total delivery of the counter-value in national currency has occurred;

X - credit operations with bodies and entities of the public sector regarding the highlighting of a portion of the PR, in accordance with Article 2 of Resolution No. 4,589 of June 29, 2017; and

XI - the portion of credit operations covered by the Emergency Employment Support Program, established by Provisional Measure No. 944 of April 3, 2020, funded with Union resources.

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Art. 2 Circular No. 3,748 of February 27, 2015, shall enter into force with the following alterations:

“Art. 5 ......................................................

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§ 4 ..........................................................

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VI - credit operations with bodies and entities of the public sector where there is exclusive application of a highlighted portion of instruments eligible for Level I in accordance with Article 2 of Resolution No. 4,589 of 2017;

VII - the import letter of credit issued by the institution, linked to an import foreign exchange contract, provided that the total delivery of the counter-value in national currency has occurred; and

VIII - the portion of credit operations covered by the Emergency Employment Support Program, established by Provisional Measure No. 944 of April 3, 2020, funded with Union resources.

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Art. 3 This Circular enters into force on the date of its publication.

Otávio Ribeiro Damaso
Director of Regulation