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2021-09-30 | Resolução CMN 4948

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CMN Resolution No. 4,948 — Foreign Derivatives Operations by Financial Institutions

CMN Resolution No. 4,948 authorizes financial institutions and other entities authorized by the Central Bank of Brazil to conduct foreign derivative operations of any modality regularly practiced in the international market, and mandates that related financial transfers be executed through banks authorized to operate in the foreign exchange market. The resolution amends Resolution No. 3,568/2008 and Resolution No. 4,033/2011 to incorporate these provisions and explicitly revokes Resolution No. 3,312/2005 and Resolution No. 3,833/2010. The regulation entered into force on January 3, 2022.

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CMN RESOLUTION NO. 4,948, OF SEPTEMBER 30, 2021

Provides for the carrying out of derivative operations abroad by financial institutions and other institutions authorized to operate by the Central Bank of Brazil and the financial transfers resulting from them; amends Resolution No. 3,568, of May 29, 2008, which provides for the foreign exchange market, and Resolution No. 4,033, of November 30, 2011, which provides for the application abroad of foreign currency holdings of banks authorized to operate in the foreign exchange market and for the raising of external resources for the purposes it specifies; and revokes Resolution No. 3,312, of August 31, 2005, which provides for protection (hedge) operations with foreign financial institutions or on foreign exchanges, and Resolution No. 3,833, of January 28, 2010.

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Lineage: Amended

Law No. 4595 dated 1964-12-31not in RegAlertResolution CMN No. 3568 — Regul…2008Resolution No. 3312 dated 2005-…not in RegAlertResolution No. 3833 dated 2010-…not in RegAlertResolution No. 4033 dated 2011-…not in RegAlertCMN Resolution No. 4,948 —Foreign Derivatives Operation…2021-09-30 · this documentCMN Resolution No. 5042 — Estab…2022
amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

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Amended 1 time · last 2022-11-25

This document amends: Resolution CMN No. 3568 — Regulates the foreign exchange market and provides other measures

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

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