CMN Resolution No. 5,037 — Amends and Consolidates Normative Acts Regarding the Credit Information System (SCR)

Resolution No. 222

CMN RESOLUTION NO. 5,037, OF SEPTEMBER 29, 2022

Amends and consolidates the normative acts that provide for the Credit Information System (SCR).

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes it public that the National Monetary Council, in a session held on September 29, 2022, based on the provisions of Article 4, items VI and VIII, of the aforementioned Law, Article 2 of Law No. 4,728, of July 14, 1965, Article 1 of Decree-Law No. 70, of November 21, 1966, Article 7 of Law No. 6,099, of September 12, 1974, Article 1, sole paragraph, item XIII, and sole paragraph, items I and VII, of Complementary Law No. 105, of January 10, 2001, Article 12 of Complementary Law No. 130, of April 17, 2009, and taking into account the provisions of Article 3, items V and VI, of Law No. 4,595, of 1964, Articles 106 and 107 of Law No. 13,097, of January 19, 2015, Article 22 of Law No. 12,810, of May 15, 2013, and Article 9 of Law No. 12,865, of October 9, 2013,

R E S O L V E S:

Art. 1. This Resolution provides for the Credit Information System (SCR), constituted by information sent to the Central Bank of Brazil regarding credit operations, as defined in this Resolution.

Art. 2. The SCR is administered by the Central Bank of Brazil and has the following purposes:

I - to provide information to the Central Bank of Brazil, for the purpose of monitoring credit in the financial system and for the exercise of its supervisory activities; and

II - to facilitate the exchange of information between financial institutions and between other entities, as defined in Article 1 of Complementary Law No. 105, of January 10, 2001, regarding the amount of client liabilities in credit operations.

Art. 3. For the purposes of this Resolution, the following are considered credit operations:

I - loans and financing;

II - advances;

III - leasing operations;

IV - provision of surety, guarantee, joint liability, or any other form of personal guarantee for the fulfillment of financial obligations of third parties;

V - non-cancelable credit commitments, unconditionally and unilaterally by the granting institution;

VI - credits contracted with resources to be disbursed;

VII - credits written off as losses;

VIII - credits that have been the subject of negotiation with retention of substantial risks and benefits or control;

IX - operations with post-paid payment instruments;

X - lending and financing operations between individuals through an electronic platform; and

XI - other operations or contracts with credit characteristics, which are recognized as such by the Central Bank of Brazil.

Sole paragraph. Information regarding the operations referred to in this article must be sent to the Central Bank of Brazil regardless of the fulfillment of such operations.

Art. 4. The following entities are considered financial institutions, for the purposes of this Resolution, and must send information to the Central Bank of Brazil regarding credit operations:

I - development agencies;

II - savings and loan associations;

III - National Bank for Economic and Social Development (BNDES);

IV - commercial banks;

V - foreign exchange banks;

VI - development banks;

VII - investment banks;

VIII - multiple banks;

IX - savings banks;

X - mortgage companies;

XI - credit cooperatives;

XII - securities brokerage firms;

XIII - leasing companies;

XIV - microentrepreneur and small business credit companies;

XV - credit, financing, and investment companies;

XVI - real estate credit companies;

XVII - securities distribution companies;

XVIII - other classes of institutions subject to regulation by the Central Bank of Brazil, authorized to carry out or acquire credit operations referred to in this Resolution, in accordance with the regulation issued by the Central Bank of Brazil;

XIX - other classes of institutions authorized to carry out or acquire credit operations referred to in this Resolution and subject to regulation by an authority other than the Central Bank of Brazil, observing the requirements set forth in paragraphs 2 and 3;

XX - direct credit companies; and

XXI - peer-to-peer lending companies.

§ 1. The provisions of this article also apply to institutions in extrajudicial liquidation, under intervention, or under a temporary special administration regime.

§ 2. The receipt of information sent by the institutions referred to in item XIX of the main text is conditioned on:

I - the provision for sending information to the SCR in an agreement concluded between the Central Bank of Brazil and the supervisory authority of the sending entity; and

II - the issuance, by the regulatory authority of the sending entity, of a normative act that regulates the sending of data to the SCR.

§ 3. The agreement mentioned in item I of § 2 must contain clauses that regulate the responsibilities of the parties regarding procedures aimed at information quality, as well as compliance by the sending entities with the conditions required for access to the information contained in the SCR.

§ 4. The institutions referred to in the main text are subject to the provisions of Complementary Law No. 105, of 2001.

Art. 5. The institutions referred to in Art. 4 must send information to the Central Bank of Brazil regarding credit operations, as defined in Art. 3, including:

I - other entities, not mentioned in Art. 4, whose financial statements are consolidated in their respective prudential conglomerates; and

II - public programs or funds, including municipal, state, and federal constitutional funds, not consolidated in their respective prudential conglomerates, in which the institutions referred to in the main text or the entities referred to in item I perform the role of administrator, financial agent, or operator.

§ 1. The provision in item I of the main text does not apply to credits resulting from commercial sales or installment services provided by the aforementioned entities.

§ 2. For the entities and programs or funds cited in items I and II of the main text, the sending referred to in this article must be carried out by the lead institution of the conglomerate.

Art. 6. The institutions referred to in Art. 4 must send information to the Central Bank of Brazil regarding credit operations referred to in Art. 3 from their branches and subsidiaries located abroad, with the identification of counterparties, according to the rule defined by the Central Bank of Brazil.

§ 1. The identification of counterparties may be suppressed, according to the rule defined by the Central Bank of Brazil, in cases where the legislation of the jurisdiction where the branch or subsidiary is located prevents the provision of this information for the purposes established in this Resolution, except for the provisions of § 2 of this article.

§ 2. The identification of counterparties cannot be suppressed in credit operations where the counterparty of the branch or subsidiary is part of the same prudential conglomerate as the institution providing the information.

Art. 7. For the purpose of verifying the quality of information recorded in their own systems when referencing credit operations, the following may have access to the information stored in the SCR, according to procedures established by the Central Bank of Brazil:

I - clearing houses and providers of clearing and settlement services, within the Brazilian payments system; and

II - entities authorized to exercise the activities of centralized deposit or registration of financial assets and securities.

Sole paragraph. The entities referred to in item II of the main text are subject to the provisions of Complementary Law No. 105, of 2001.

Art. 8. The Central Bank of Brazil, in accordance with the operational procedures it establishes, will make available to holders who request it, information contained in the SCR used for the purpose provided for in item II of Art. 2, regarding their credit operations.

Art. 9. For the purpose of item II of Art. 2, the Central Bank of Brazil may make available to the institutions referred to in Art. 4 information regarding credit operations of clients, respecting the rules established in this Resolution and in complementary regulation issued by the Central Bank of Brazil.

§ 1. In case of delay in sending information regarding their respective credit operations, the institutions referred to in the main text may have their access for consulting SCR data restricted or suspended, according to rules to be established by the Central Bank of Brazil.

§ 2. The making available of information to the institutions referred to in item XIX of the main text of Art. 4 is conditioned on:

I - compliance with the provisions of §§ 2 and 3 of Art. 4; and

II - compliance with the rules of this Resolution and the regulation of the Central Bank of Brazil.

Art. 10. The Central Bank of Brazil may make available to managers of databases registered in accordance with Article 12 of Law No. 12,414, of June 9, 2011, the SCR information regarding paid or ongoing credit operations of those registered in those databases, respecting the rules established in this Resolution and in complementary regulation issued by the Central Bank of Brazil.

§ 1. The information referred to in the main text must be limited to those necessary to achieve the purposes of the databases, as established in Law No. 12,414, of 2011, and Complementary Law No. 105, of 2001.

§ 2. It is prohibited to make available the information referred to in the main text of those who opt for cancellation as provided for in item I of Article 5 of Law No. 12,414, of 2011.

§ 3. The making available of the information referred to in the main text is conditioned on the conclusion of an agreement between the database manager and the Central Bank of Brazil.

§ 4. The agreement referred to in § 3 of this article will establish the manner in which the exchange of information between the parties will take place.

Art. 11. The Central Bank of Brazil may make available the SCR information to guarantors in credit operations carried out or acquired by the institutions mentioned in Art. 4, respecting the rules established in this Resolution and in complementary regulation issued by the Central Bank of Brazil.

§ 1. Access to the SCR must be carried out by an institution listed in Art. 4.

§ 2. When the guarantor is not an institution listed in Art. 4, access may be carried out through this institution, via a power of attorney with specific powers from the guarantor to consult information in their name.

§ 3. In the case referred to in § 2, the access to information by the institution listed in Art. 4 is intended solely and exclusively for transfer to the guarantor, not admitting its use for any other purpose than that provided for in this article.

§ 4. The access referred to in the main text is restricted to information regarding the operations in which the guarantee is provided, and access to other information of the borrower is prohibited.

§ 5. In the case referred to in § 2 of this article, the institution that accesses the system must keep the power of attorney, in physical or electronic medium, that allows proving its authenticity, for a period of five years, counted from the date of the last consultation, without prejudice to other provisions that set a longer period for keeping the document.

Art. 12. Consultations to the information referred to in Art. 9 are conditioned on obtaining specific authorization from the client.

§ 1. The authorization referred to in the main text must expressly contemplate its extension to the institutions referred to in Art. 4 that acquire or receive as collateral, or manifest interest in acquiring or receiving as collateral, total or partial, credit operations responsible by the client.

§ 2. The authorization referred to in the main text must contain the guidelines and clarifications related in Art. 16.

§ 3. Regardless of the carrying out of a credit operation with the client, the institutions referred to in Art. 4 must keep the authorization for consultation, in physical or electronic medium, that allows proving its authenticity, for a period of five years, counted from the date of the last consultation, without prejudice to other provisions that set a longer period for keeping the document.

§ 4. The manifestation of interest referred to in § 1 must be provable by means of a suitable document, containing the identification of the creditor, the clients, and the respective credit operations, which must be kept for a period of five years, counted from the date of the last consultation carried out in the SCR regarding the aforementioned clients, without prejudice to other provisions that set a longer period for keeping the document.

Art. 13. The institutions originating the credit operations or that have acquired such operations from entities not part of the National Financial System must notify the client in advance that the data of their respective operations will be registered in the SCR.

§ 1. The communication referred to in the main text must contain the guidelines and clarifications related in Art. 16.

§ 2. The communication referred to in the main text must occur prior to the sending of information to the SCR.

§ 3. The institutions referred to in the main text must keep the communication referred to in this article, in physical or electronic medium that allows proving its authenticity, for a period of five years, counted from the date of issuance of the document, without prejudice to other provisions that set a longer period for keeping it.

Art. 14. The institutions sending information to the Central Bank of Brazil must identify, in the manner determined by that Autarchy, the operations that, on the base date of sending, present a delay equal to or greater than sixty months.

Sole paragraph. The operations referred to in the main text will not be considered for the purpose referred to in item II of Art. 2.

Art. 15. The information contained in the SCR is the exclusive responsibility of the sending institutions.

Sole paragraph. The responsibility referred to in the main text covers the following measures:

I - inclusion of information in the SCR;

II - corrections and exclusions of information contained in the SCR;

III - identification of credit operations that are sub judice;

IV - compliance with judicial determinations and the provision of information about these determinations; and

V - registration of statements of disagreement presented by the contracting parties, as well as other conditions and annotations necessary to guarantee the completeness, fidelity, and integrity of the information regarding credit operations.

Art. 16. The institutions referred to in Art. 4 and that comply with the provisions of Art. 9 must disseminate guidelines about the system, including, at a minimum:

I - the purpose and use of the system information;

II - the forms of consultation of the system information;

III - the procedures to be observed before the institutions themselves, for:

a) the correction and exclusion of information contained in the system;

b) the registration of a judicial measure; and

c) the registration of a statement of disagreement regarding the information contained in the system; and

IV - clarifications about the functioning of the system.

§ 1. The dissemination referred to in the main text, drafted in easy-to-understand language, must be available on the institutions' internet pages, as well as in their premises, exposed in a visible and easily accessible location.

§ 2. The provision of § 1 also applies to the premises and internet pages of persons contracted by the institutions mentioned in Art. 4, in the capacity of correspondents in the country, for the provision of products and services of responsibility of the contracting institution related to credit operations.

Art. 17. The Central Bank of Brazil may establish complementary procedural norms for the compliance with this Resolution, including, defining:

I - value limit for the provision of information for storage in the SCR; and

II - differentiated schedule for the beginning of compliance with the provisions of Art. 9 of this Resolution.

Art. 18. The consultation authorizations granted by clients and the records of judicial determinations prior to the effectiveness of this Resolution remain valid.

Art. 19. The following are repealed:

I - Resolution No. 4,571, of May 26, 2017;

II - Article 45 of Resolution No. 4,656, of April 26, 2018.

Art. 20. This Resolution enters into force on November 1, 2022.

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