Regulatory Alerts2020-04-28 | Circular 4013Added · Updated
Circular No. 4013 — Amends Circular No. 3,590 of April 26, 2012, Regarding the Analysis of Concentration Acts in the National Financial System by the Central Bank of Brazil
The Board of Directors of the Central Bank of Brazil issued Circular No. 4013 to amend Circular No. 3,590, establishing new requirements for the regulatory review of concentration acts involving financial institutions. The amendment introduces a prudential priority framework, allowing the Central Bank to prioritize analysis when supervening situations indicate risks to the solvency and stability of the National Financial System. Additionally, the regulation expands the scope of reportable transactions, defines specific prudential risk criteria, and mandates submission within thirty days of the first legal act.
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