CMN Resolution No. 4763 — Authorizes credit cooperatives to raise savings deposits within the Brazilian Savings and Loan System (SBPE) and amends rules on SBPE institutions and application enforceability

The Central Bank of Brazil, in the form of art. 9 of Law No. 4,595, of December 31, 1964, makes public that the National Monetary Council, in a session held on November 27, 2019, based on arts. 4, items VI and VIII, of the aforementioned Law, 91, item II, and 95, caput and § 2, item I, of Law No. 13,097, of January 19, 2015, and 12, items III and V, of Complementary Law No. 130, of April 17, 2009, R E S O L V E D :
Art. 1 Authorization for the collection of savings deposits within the scope of the Brazilian Savings and Loan System (SBPE) may be granted to a credit cooperative that meets the following requirements:
I - integrates a three-level cooperative system that presents a Combined Adjusted Net Worth greater than R$900,000,000.00 (nine hundred million reais); or II - integrates a two-level cooperative system that presents a Combined Adjusted Net Worth greater than R$600,000,000.00 (six hundred million reais). Sole Paragraph. The authorization mentioned in the caput may be granted to a cooperative that does not integrate a cooperative system, provided that it is classified in the full category, in accordance with the regulation in force, and presents an Adjusted Net Worth greater than R$300,000,000.00 (three hundred million reais). Art. 2 The application for the authorization referred to in art. 1 must be submitted to the Central Bank of Brazil, accompanied by the following documents or information:
I - a declaration that the cooperative observes the regulation in force, including with regard to operational limits; II - an indication of the percentage of the total balance of savings deposits that will be considered as deposits within the scope of the SBPE, if it is authorized to collect rural savings deposits; and III - a demonstration of the market reasons that justify the cooperative's interest in collecting savings deposits. Sole Paragraph. In the case of a credit cooperative that integrates a cooperative system:
I - the application for authorization must be submitted by the:
a) confederation, in a three-level system; or b) central credit cooperative, in a two-level system; II - the percentage referred to in item II of the caput must apply to all cooperatives integrating the system authorized to collect savings deposits; and III - the application for authorization must also be accompanied by a list of all credit cooperatives that request authorization to collect savings deposits within the scope of the SBPE, indicating which ones are authorized to collect rural savings deposits. Art. 3 The limit established in art. 1, § 1, of Resolution No. 3,549, of March 27, 2008, does not apply to credit cooperatives. Art. 4 Resolution No. 4,676, of July 31, 2018, shall come into force with the following changes:
"Art. 2 ...............................................................
Sole Paragraph. The SBPE includes multiple banks with real estate credit portfolios, savings banks, real estate credit companies, savings and loan associations, and credit cooperatives authorized to collect savings deposits in accordance with current regulation." (NR)
"Art. 15. .............................................................
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§ 3 In the case of credit cooperatives that integrate a cooperative system, the proof of compliance with the enforceability referred to in items I and II of the caput, as well as the collection referred to in art. 21, is the responsibility of:
I - the central credit cooperative, in a two-level system; II - the credit confederation, in a three-level system; and III - the cooperative bank, in a three-level system in which the confederation is not a credit confederation. § 4 For the purpose of the provisions of § 3, the enforceability of application and the collection referred to in art. 21 will be calculated considering the aggregated balances of savings deposits and other active and passive operations of the credit cooperatives belonging to the respective system. § 5 The central credit cooperative, the credit confederation, and the cooperative bank must keep available to the Central Bank of Brazil, for a minimum period of five years, the information and documents necessary to prove compliance with the enforceability of application." (NR) Art. 5 Resolution No. 4,598, of August 29, 2017, shall come into force with the following change:
"Art. 2 The LIG may only be issued by multiple banks, commercial banks, investment banks, credit, financing and investment companies, savings banks, mortgage companies, savings and loan associations, and credit cooperatives." (NR) Art. 6 The Central Bank of Brazil is authorized to adopt the necessary measures for the execution of the provisions of this Resolution. Art. 7 This Resolution enters into force on the date of its publication. Roberto de Oliveira Campos Neto President of the Central Bank of Brazil