CMN Resolution No. 4853 of September 24, 2020, amending Resolution No. 4,734 of June 27, 2019

CMN RESOLUTION NO. 4,853, OF SEPTEMBER 24, 2020

Amends
Resolution No. 4,734, of June 27, 2019, which establishes conditions and procedures for carrying out receivable discount operations of payment arrangements integrated into the Brazilian Payments System based on post-paid accounts and on-demand deposits and credit operations guaranteed by these receivables, by financial institutions.

The Central Bank of Brazil, in accordance with Art. 9 of Law No. 4,595, of December 31, 1964, makes it public that the Monetary National Council, in a session held on September 24, 2020, based on the provisions of Art. 4, items VI and VIII, of the aforementioned Law, and 26-A of Law No. 12,810, of May 15, 2013,

R E S O L V E D:

Art. 1. Resolution No. 4,734, of June 27, 2019, shall enter into force with the following amendments:

"Art.
2.
...........................................................................................................

.........................................................................................................................

V

• payment arrangement receivable discount operations: operations of
  definitive assignment of payment arrangement receivables, with or without co-obligation;

........................................................................................................................." (NR)

"Art.
4.
...........................................................................................................

.........................................................................................................................

IV

• specify the financial or payment institution for financial settlement
  of the receivables subject to discount or pledged as collateral for the credit operation;

V

• guarantee the possibility of post-contractual advance, by the accredited
  or sub-credited institution, of receivables constituted as collateral for a credit operation, respecting the financial or payment institution specified in item IV for settlement of the advanced values; and

.........................................................................................................................

§
5. The financial or payment
institution referred to in item IV of the caput must be a direct or indirect participant in the clearing and settlement systems authorized by the Central Bank of Brazil in which payment arrangement institutors implemented the centralized clearing and settlement of payment transactions carried out within the scope of the arrangements referred to in Art. 1." (NR)

"Art.
6.
...........................................................................................................

.........................................................................................................................

II

• the excess value of receivables maintained as collateral for a credit
  limit grant operation that is unconditional and unilateral by the financial institution regarding the outstanding balance of this operation in:

a) up to one business day after the request for dissolution of liens and encumbrances by the final receiving user, when the request occurs directly in the beneficiary financial institution; or

b) up to two business days after the request for dissolution of liens and encumbrances by the final receiving user, when the request occurs indirectly, in the manner provided in § 1 of this article.

........................................................................................................................." (NR)

Art. 2. This Resolution enters into force on October 1, 2020.

Roberto de
Oliveira Campos Neto

President of the Central Bank of Brazil