CMN Resolution No. 4,975 on Accounting Criteria for Leasing Operations by Financial Institutions

Resolution No. 4,975

CMN RESOLUTION NO. 4,975, OF DECEMBER 16, 2021

Establishes the accounting criteria applicable to leasing operations by financial institutions and other institutions authorized to operate by the Central Bank of Brazil.

The Central Bank of Brazil, in accordance with Art. 9 of Law No. 4,595 of December 31, 1964, makes public that the Monetary Council, in a session held on December 16, 2021, based on Arts. 4, items VIII and XII, and 31 of the aforementioned Law, Art. 7 of Law No. 6,099 of September 12, 1974, and Art. 61 of Law No. 11,941 of May 27, 2009,

R E S O L V E D:

Art. 1 This Resolution establishes the accounting criteria applicable to leasing operations carried out by financial institutions and other institutions authorized to operate by the Central Bank of Brazil in the capacity of lessor and lessee.

Sole Paragraph. The provisions of this Resolution do not apply to securities brokerage companies, securities distribution companies, currency brokerage companies, consortium administrators, and payment institutions, which must observe the regulation issued by the Central Bank of Brazil, in the exercise of their legal powers. (Amended, effective October 1, 2023, by CMN Resolution No. 5,101 of August 24, 2023.)

Art. 2 The institutions mentioned in Art. 1 must observe the Technical Pronouncement of the Accounting Pronouncements Committee (CPC) 06 (R2) – Leases, approved on October 6, 2017, in the recognition, measurement, presentation, and disclosure of leasing operations. (Amended, effective October 1, 2023, by CMN Resolution No. 5,101 of August 24, 2023.)

§ 1 The technical pronouncements cited in the text of CPC 06 (R2), while not received by specific act of the Monetary Council, cannot be applied.

§ 2 References to other pronouncements in the text of the pronouncement referred to in the caput must be interpreted, for the purposes of this Resolution, as references to other pronouncements of the Committee that have been received by the Monetary Council, as well as to the provisions of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif) that establish accounting criteria related to the mentioned pronouncements.

§ 3 For the purposes of the provision in item 5, "b", of Appendix C of the pronouncement referred to in the caput, the institution that already prepares financial statements under international accounting standards in accordance with the pronouncements issued by the International Accounting Standards Board (IASB) may use as the initial application date the date of the first disclosure under International Financial Reporting Standard (IFRS) 16 – Leases.

§ 4 In the application of the pronouncement referred to in the caput, the application of the provisions in items 3 and 11 of Appendix C is prohibited.

§ 5 The application of the provisions of this article is optional for contracts entered into up to the date of entry into force of this Resolution in which the institution mentioned in Art. 1 appears in the capacity of lessee. (Included, effective October 1, 2023, by CMN Resolution No. 5,101 of August 24, 2023.)

§ 6 For accounting regulatory purposes, the term "leasing" refers to the concept defined for the term "lease" in the Technical Pronouncement of the Accounting Pronouncements Committee (CPC) 06 (R2). (Included, effective October 1, 2023, by CMN Resolution No. 5,101 of August 24, 2023.)

Art. 3 Circular No. 1,429 of January 20, 1989 is revoked.

Art. 4 This Resolution enters into force on January 1, 2025.

Roberto de Oliveira Campos Neto
President of the Central Bank of Brazil