CMN Resolution No. 4088 — Registration of Guarantees on Vehicles and Real Estate and Vehicle Ownership Information

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the National Monetary Council, in a session held on May 24, 2012, based on Articles 4, items VI and VIII, of the aforementioned Law and Article 23 of Law No. 6,099 of September 12, 1974,

R E S O L V E S:

Article 1. Financial institutions and other institutions authorized to operate by the Central Bank of Brazil must register, in a system of registration and financial settlement of assets authorized by the Central Bank of Brazil:

I - the guarantees constituted on motor vehicles or real estate related to credit operations; and

II - the information regarding the ownership of motor vehicles subject to leasing operations.

Sole Paragraph. The registration system referred to in the main text must:

I - be of national scope;

II - allow for unified consultation of information; and

III - allow the Central Bank of Brazil access to the information and documents necessary for the performance of its legal duties.

Article 2. The institutions mentioned in Article 1 must indicate a director responsible for the procedures covered by this Resolution.

Sole Paragraph. For the purposes of the responsibility referred to in the main text, it is admitted that the indicated director performs other functions within the institution, except those related to the administration of third-party resources, internal audit, internal controls, or others that may imply conflicts of interest or represent a deficiency in the segregation of functions.

Article 3. The Central Bank of Brazil is authorized to adopt the necessary measures to comply with this Resolution, specifically disciplining the following aspects:

I - information required for registrations; and

II - schedule for the implementation of registrations.

Article 4. This Resolution enters into force on the date of its publication.

Alexandre Antonio Tombini
President of the Central Bank of Brazil