Resolution No. 5,049

CMN RESOLUTION

No. 5,049, OF NOVEMBER 25, 2022

Amends
Resolutions Nos. 4,282, of November 4, 2013, 4,553, of January 30, 2017, 4,606, of October 19, 2017, 4,677, of July 31, 2018, and CMN Resolutions Nos. 4,955, of October 21, 2021, and 4,958, of October 21, 2021.

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 Articles 4, items VIII and XI, of the aforementioned Law, 9 and 10 of Law No. 4,728, of July 14, 1965, 20, § 1, of Law No. 4,864, of November 29, 1965, 7 and 23 of Law No. 6,099, of September 12, 1974, 1, § 1, and 12 of Complementary Law No. 130, of April 17, 2009, and 9 of Law No. 12,865, of October 9, 2013,

RESOLVED:

Art. 1 This Resolution amends Resolutions Nos. 4,282, of November 4, 2013, 4,553, of January 30, 2017, 4,606, of October 19, 2017, 4,677, of July 31, 2018, and CMN Resolutions Nos. 4,955, of October 21, 2021, and 4,958, of October 21, 2021.

Art. 2 Resolution No. 4,282, of 2013, shall enter into force with the following alteration:

“Art. 3 ............................................................................................................

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VI - reliability, quality and security of payment services;

VII - financial inclusion, observing equivalent standards of quality, security and transparency in all payment arrangements; and

VIII - uniformity and equivalence between the prudential norms applicable to the prudential conglomerate led by a payment institution and integrated by a financial institution and the regulation applicable to financial institutions, observing the segment in which the conglomerates are classified.” (NR)

Art. 3 Resolution No. 4,553, of 2017, shall enter into force with the following alteration:

“Art. 2
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§ 5 S5 is composed of institutions with a size inferior to 0.1% (one tenth of one percent) of GDP, which are not multiple banks, commercial banks, investment banks, exchange banks, savings banks or development agencies, and which use the simplified optional methodology for calculating the minimum requirement for Simplified Reference Capital (PRS5).

................................................................................................................” (NR)

Art. 4 Resolution No. 4,606, of 2017, shall enter into force with the following alterations:

“Art. 1 This Resolution provides for the simplified optional methodology for calculating the minimum requirement for Simplified Reference Capital (PRS5), the requirements for opting for this methodology, and the requirements for the simplified structure for continuous risk management.” (NR)

“Art. 2 ............................................................................................................

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II - Group II: non-bank institutions operating in credit granting; and

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§ 2 The conglomerate prudential shall not be eligible for the option referred to in the caput if it has the following characteristics:

I - leading institution belonging to Group II and at least one controlled entity belonging to Group III; and

II - leading institution belonging to Group III and at least one controlled entity belonging to Group II.

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§ 4 The option referred to in the caput is admitted for a prudential conglomerate integrated by institutions of Group II and by an investment fund in credit rights (FIDC) that meets the requirements to be considered as lower-risk securitization under Article 4, § 1.

§ 5 The option referred to in the caput is admitted for the prudential conglomerate constituted by institutions of Group II or by institutions of Group III and by a payment institution.” (NR)

“Art. 6 ............................................................................................................

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II - non-controlling interest participation is the portion of the subsidiary's capital not held, directly or indirectly, by the leading institution of the conglomerate.” (NR)

“Art. 9 ............................................................................................................

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IV - ...................................................................................................................

a) in the social capital of entities not part of the prudential conglomerate;

b) in instruments eligible for the composition of Main Capital, Supplementary Capital and Tier II Capital, as defined in specific regulation, of an institution not part of the prudential conglomerate;

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VI - tax credits resulting from temporary differences that depend on the generation of future profits or taxable revenues for their realization; and

VII - tax credits resulting from fiscal losses and from a negative base of Social Contribution on Net Profit and those originating from this contribution relative to assessment periods closed until December 31, 1998, calculated in accordance with Article 8 of Provisional Measure No. 2,158-35, of August 24, 2001.

§ 1 The prudential adjustment referred to in item “a” of item IV of the caput includes investments in any instrument convertible into equity participation in the invested entity or that can be unilaterally extinguished.

§ 2 The prudential adjustment provided for in item V of the caput does not apply to the portion of non-controlling interest held, directly or indirectly, by the controlling entity of the leading institution of the conglomerate.

§ 3 The value of quotas corresponding to credit cooperative participations in the capital of central credit cooperatives or credit confederations is not subject to deduction.” (NR)

“Art. 11.
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II - RWARCSimp, relative to credit risk exposures subject to the capital requirement calculation through the simplified standardized approach;

III - RWACAMSimp, relative to exposure to gold, foreign currency and assets subject to exchange rate variation through the simplified standardized approach; and

IV - RWASP, relative to the calculation of capital required for risks associated with payment services.

................................................................................................................” (NR)

“Art. 19. The institution opting for the simplified methodology provided for in this Resolution must implement a simplified structure for continuous risk management that is:

I - compatible with the business model, with the nature of operations and with the complexity of the institution's products, services, activities and processes;

II - proportional to the size and relevance of risk exposure, according to criteria defined by the institution; and

III - adequate to the institution's risk profile.

§ 1 The management structure referred to in the caput must be unified for the institutions forming part of the same prudential conglomerate, defined in accordance with CMN Resolution No. 4,950, of September 30, 2021.

§ 2 The management structure referred to in the caput must consider the risks associated with the conglomerate and each institution individually, as well as identify and monitor risks associated with other entities controlled by its members or in which they participate.” (NR)

“Art. 19-A. In the case of a credit cooperative, continuous risk management carried out through a centralized structure is admitted, in accordance with Article 4, §§ 1 to 4, of Resolution No. 4,557, of 2017.

Sole Paragraph. The exercise of the option provided for in the caput does not exempt the administration of each credit cooperative from responsibility for continuous risk management in accordance with this Resolution, including the designation, before the Central Bank of Brazil, of the director referred to in Article 28.” (NR)

“Art. 21. ............................................................................................................

I - risk management policies, strategies, routines and procedures, clearly documented;

II - reporting to the institution's board of directors of exceptions to the policies mentioned in item I;

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§ 1 The processes related to risk management must be periodically evaluated by the internal audit of the institutions.

§ 2 For single credit cooperatives opting for the simplified optional methodology provided for in this Resolution that are part of systems of two or three levels, the periodic evaluation referred to in § 1 is the responsibility of the central cooperative or the confederation.

§ 3 The monitoring of the liquidity level, referred to in item III of the caput, must consider all operations carried out in the financial and capital markets, as well as possible contingent or unexpected exposures, including those associated with settlement services, the provision of guarantees and sureties, and credit and liquidity lines contracted and unused.” (NR)

“Art. 23.
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I - decision criteria regarding the outsourcing of services and selection of their providers, including the minimum contractual conditions necessary for mitigating operational risk;

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III - IT infrastructure that ensures integrity, security and availability of data and information systems used; and

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§ 1 In the case of outsourcing of IT services, the respective service provision contract must stipulate that:

I - the contracting party will have access to the data and information about the services provided; and

II - the Central Bank of Brazil will have access to:

a) terms signed;

b) documentation and information regarding the services provided; and

c) contractor's premises.

................................................................................................................” (NR)

“Art. 28. The institution opting for the simplified methodology provided for in this Resolution must designate before the Central Bank of Brazil a director responsible for the simplified structure for continuous risk management.

§ 1 It is the responsibility of the director responsible for the simplified structure for continuous risk management:

I - supervise the development, implementation and performance of the simplified risk management structure, and ensure its improvement;

II - support and participate in the strategic decision-making process related to risk management, assisting the board of directors; and

III - supervise the processes and controls related to the calculation of the RWAS5 amount and the minimum PR requirement.

§ 2 Provided that the absence of conflict of interests is ensured, including conflicts associated with activities carried out by business units, it is admitted that the designated director performs other functions in the institution.

§ 3 The Central Bank of Brazil must be informed about the designation by the institution forming part of the prudential conglomerate responsible for the provisions of this Resolution, which is responsible for designating the director responsible for the risk management referred to in the caput.” (NR)

“Art. 32-A. If the Central Bank of Brazil identifies inadequacy or insufficiency in risk management, it may determine its improvement without prejudice to the determination to adopt preventive prudential measures provided for in Resolution No. 4,019, of 2011.” (NR)

“Art. 32-B. The following must be kept available to the Central Bank of Brazil for five years:

I - documentation related to the risk management structure; and

II - the reports provided for in this Resolution.” (NR)

Art. 5 Resolution No. 4,677, of 2018, shall enter into force with the following alterations:

“Art. 8
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§ 1
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XII - exposures related to judicial deposits made by an institution classified in S2, S3 or S4; and

XIII - exposures related to availability and applications with a maturity of up to one year made at the respective headquarters by a subsidiary or branch of a foreign institution classified in S2, S3 or S4.

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“Art. 22. ............................................................................................................

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§ 1
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V - exposures deducted for the purpose of calculating PRS5, in accordance with Resolution No. 4,606, of 2017; and

VI - exposures related to judicial deposits.

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Art. 6 CMN Resolution No. 4,955, of 2021, shall enter into force with the following alterations:

“Art. 3 ............................................................................................................

Sole Paragraph. The calculation of PR for financial institutions and other institutions authorized by the Central Bank of Brazil forming part of a prudential conglomerate led by a payment institution must observe the regulation applicable to this type of conglomerate.” (NR)

“Art. 4 ............................................................................................................

I - ......................................................................................................................

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e) to credit result accounts;

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II - .....................................................................................................................

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d) to debit result accounts;

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Art. 7 CMN Resolution No. 4,958, of 2021, shall enter into force with the following alterations:

“Art. 2 ............................................................................................................

§ 1 The minimum requirements mentioned in the caput must be calculated on a consolidated basis for institutions forming part of a prudential conglomerate, in accordance with the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif).

§ 2 For financial institutions and other institutions authorized by the Central Bank of Brazil forming part of a prudential conglomerate led by a payment institution, the minimum requirements mentioned in the caput must be calculated on a consolidated basis, in accordance with the regulation applicable to this type of conglomerate.” (NR)

“Art. 3
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IV - RWAMINT, relative to market risk exposures subject to the capital requirement calculation through an internal model authorized by the Central Bank of Brazil;

V - RWAOPAD, relative to the calculation of capital required for operational risk through the standardized approach; and

VI - RWASP, relative to the calculation of capital required for risks associated with payment services.

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§ 3 The RWASP portion applies only to the institution classified in Segment 2 (S2) or in Segment 3 (S3) or in Segment 4 (S4), in accordance with Resolution No. 4,553, of 2017.” (NR)

Art. 8 The following are repealed:

I - from January 1, 2023:

a) item I of § 5 of Article 2 of Resolution No. 4,553, of 2017;

b) the following provisions of Resolution No. 4,557, of February 23, 2017:

1. Article 3; and

2. Articles 61 to 64;

c) the following provisions of Resolution No. 4,606, of 2017:

1. items “a” and “b” of item II of Article 6;

2. item VIII and the sole paragraph of Article 9;

3. the sole paragraph of Article 19;

4. the sole paragraph of Article 21;

5. item III of § 1 of Article 23;

6. items I to III of Article 28; and

7. Article 31;

II - from July 1, 2023, the sole paragraph of Article 2 of CMN Resolution No. 4,958, of 2021; and

III - from January 1, 2024:

a) the following provisions of Resolution No. 4,677, of 2018:

1. item XIV of § 1 of Article 8; and

2. item VII of § 1 of Article 22; and

b) Resolution No. 4,744, of August 29, 2019.

Art. 9 This Resolution enters into force:

I - on January 1, 2023, regarding the following alterations and additions:

a) in Article 3 of Resolution No. 4,282, of 2013;

b) in Article 2 of Resolution No. 4,553, of 2017;

c) in Article 1, Article 6, Article 9, Article 19, Article 19-A, Article 21, Article 23, Article 28, Article 32-A and Article 32-B of Resolution No. 4,606, of 2017; and

d) in Article 4 of CMN Resolution No. 4,955, of 2021; and

II - on July 1, 2023, regarding the following alterations:

a) in Article 3 of CMN Resolution No. 4,955, of 2021; and

b) in Article 2 of CMN Resolution No. 4,958, of 2021; and

III - on January 1, 2024, regarding the following alterations:

a) in Article 2 and in Article 11 of Resolution No. 4,606, of 2017;

b) in Article 8 and in Article 22 of Resolution No. 4,677, of 2018; and

c) in Article 3 of CMN Resolution No. 4,958, of 2021.

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