CMN Resolution No. 5,045 of November 25, 2022

CMN RESOLUTION
NO. 5,045, OF NOVEMBER 25, 2022

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

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 November 24, 2022, based on the provisions of Articles 4, items VI and VIII, of the aforementioned Law, and 26-A of Law No. 12,810, of May 15, 2013,

RESOLVES:

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

"Article 4. ..................................................................................................

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§ 1. The specification referred to in items I and II of the main text must contemplate, when applicable, the rule for sharing receivables among different accredited institutions and sub-accredited entities according to the choice of the final receiving user.

§ 2. The specification referred to in item II of the main text must be carried out in a manner that ensures economic rationality with the risk sought to be mitigated by the credit operation, particularly regarding the maintenance, throughout the validity of the operation:

I - of the compatibility between:

a) the maximum settlement period of the receivables constituted and to be constituted as subject to encumbrances and burdens, and the term of the credit operation; and

b) the estimate of the total value of receivables constituted and to be constituted as subject to encumbrances and burdens, and the outstanding balance of the credit operation; and

II - of the value referred to in the main text, item II, letter "b" limited to the outstanding balance of the credit operation, or to the value of the limit granted, in the case of a credit limit grant operation that is non-cancellable unconditionally and unilaterally by the financial institution.

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"Article 6. ..................................................................................................

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II - the excess value of receivables constituted maintained as guarantee for a credit limit grant operation that is non-cancellable unconditionally and unilaterally by the financial institution in relation to the outstanding balance of that operation:

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

b) up to two business days after the request for cancellation of encumbrances and burdens by the final receiving user, when the request occurs indirectly, as provided in § 1 of this article; and

III - the excess value of receivables constituted maintained as guarantee in relation to the maximum value referred to in Article 4, item II, letter "b":

a) on the same day that an excess value greater than five percent of the maximum value referred to in Article 4, item II, letter "b" is verified; or

b) at least weekly, for excess value less than five percent of the maximum value referred to in Article 4, item II, letter "b".

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§ 2. The verification of the excess and the cancellation of the encumbrances and burdens referred to in the main text, item III, may be carried out by the registration system by determination of the beneficiary financial institution, observing the provisions of § 3 of this article.

§ 3. When carrying out the cancellation of the encumbrances and burdens referred to in the main text, item III, the financial institution must prioritize the release of the constituted receivables:

I - which will not be used by it to amortize the credit operation; and

II - whose settlement dates are closest to the date on which the cancellation will be carried out." (NEW)

"Article 7-C. Financial institutions must receive, process, and respond within three business days, counted from the date of receipt, to disputes related to their operations with receivables from payment arrangements directed to them by the registration systems." (NEW)

"Article 7-D. Financial institutions must carry out, at least monthly, the reconciliation of information regarding authorizations to consult receivables agendas and regarding negotiation contracts related to these agendas with the registration systems with which they have a relationship.

Sole Paragraph. If the reconciliation referred to in the main text results in the identification of inconsistencies, financial institutions must correct them within two business days, counted from their identification." (NEW)

Article 2. Financial institutions must make adjustments to their structures and systems to comply with the provisions of Articles 7-C and 7-D by June 5, 2023.

Article 3. This Resolution enters into force on December 1, 2022.

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