Instruction BCB No. 544 — Amends the Filling Instructions for Document Code 2300 - External Resource Borrowing

INSTRUCTION
NORMATIVA BCB
NO. 544 OF November 6, 2024

Amends the Filling Instructions for document code 2300 - External Resource Borrowing, governed by Instruction BCB No. 264, of March 31, 2022.

The Head of the Department of Financial System Monitoring (Desig), using the authority conferred by Art. 23, item I, clause “a” of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, based on Art. 85, item I, clause “b”, of the aforementioned Regulations, and considering the provisions in Resolution CMN No. 4,966, of November 25, 2021, in Resolutions BCB Nos. 193, of February 23, 2022, and 352, of November 23, 2023, and in Instructions Normativas BCB Nos. 264, of February 31, 2022 and 426, 427, 428, 429, 430, 431, 432 and 433, all of December 1, 2023,

RESOLVES:

Art. 1º The new version of the Filling Instructions for document code 2300 - External Resource Borrowing, available on the Central Bank of Brazil website, at the electronic address https://www.bcb.gov.br/estabilidadefinanceira/captacaoexterior, shall come into force for borrowings carried out from January 2, 2025.

Art. 2º The following modifications were made to the Filling Instructions:

I
- in
Section 2 “BORROWINGS” (tag
“Captac”):

a) item
2.18 - Origin Modality (tag “CodModOrigem”): update
of the Cosif accounts related to equity-eligible debt instruments and subordinated debt;

b) item 2.20 – Cosif Account (tag “CtCosif”): update of the detailing of the level and the number of numeric characters of the Cosif account;

II
– in Section 4 “MONTHLY STOCKS” (tag
“Estoque”): update of the account grouping table.

Art. 3º The submission of information regarding the tag “CtCosif” for ALCR001 files sent between January 2, 2025 and March 31, 2025 is optional.

Art.
4º
This
Instruction Normativa enters into force on
January 2,
2025.

ANDRÉ
MAURÍCIO TRINDADE DA ROCHA

NOTE

The document code 2300 - External Resource Borrowing aims to collect daily and monthly information that allows for the monitoring of resource borrowings, from creditors located abroad, carried out by institutions authorized to operate by the Central Bank of Brazil and other institutions participating in prudential conglomerates, as well as by their dependencies located in Brazil and abroad. The information also enables the monitoring of financing sources and the liquidity of financial institutions and the tracking of resource flows between the Country and abroad. The content of the document comprises resource borrowing operations, principal repayment, and the stock of borrowings abroad.

2. Resolution CMN No. 4,966, of November 25, 2021, and Resolution BCB No. 352, of
   November 23, 2023, concluded the process of harmonization of the accounting standards provided for in the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif) with the international pronouncement IFRS 9 – Financial Instruments issued by the International Accounting Standards Board (IASB). To allow for the accounting bookkeeping in the Cosif chart of accounts to be aligned with the criteria and accounting procedures established in the regulation issued by the Monetary National Council (CMN) and by the Central Bank of Brazil (BCB), it was necessary to alter the items of the aforementioned chart of accounts, which culminated in the issuance of Instruction Normativas BCB (INs) Nos. 426, 427, 428, 429, 430, 431, 432 and 433, all of 2023. With the issuance of these INs, there was a significant alteration of Cosif, with the inclusion of one more level in its list of accounts, going from the current 5 levels to 6, which is being called Cosif version 1.5. As a direct consequence of this alteration, it is necessary to alter the Filling Instructions for Document 2300 – External Resource Borrowing, so that they can reflect the new list of accounts.

3. Aiming to grant senders sufficient time to
   adapt their systems to the new format of Cosif accounts, a period of 3 months, between January and March 2025, was granted, during which the filling of the account number in the sent files will be optional.

4. Decree No. 10.411,
   of June 30, 2020, regulates the carrying out of regulatory impact analysis (AIR) as a prerequisite for the issuance of normative acts. However, in its article 4º, the aforementioned decree establishes the hypotheses for exemption from carrying out AIR. The present BCB IN falls under the hypothesis of item VII

• normative act that reduces requirements,
  obligations, restrictions, requests or specifications with the objective of decreasing regulatory costs.

5. With
   the entry into force of the new accounting criteria applicable to financial instruments and the new Cosif 1.5 account standard, it is necessary to alter the Filling Instructions for Document 2300 since the non-alteration of the information sent to this Central Bank would bring a higher cost for the senders, as they would have to maintain in their databases the current accounting items, only for the sending of information on external resource borrowings, and the new items, according to CMN and BCB norms. Therefore, the proposed alteration reduces the requirement for senders to maintain duplicate information in their databases, which justifies the classification of the present BCB Resolution under item VII of the aforementioned Decree.

6. Thus,
   based on the exposition in paragraphs 4 and
   5,
   I understand that the issuance of the present Instruction Normativa is exempt from the carrying out of AIR.

ANDRÉ
MAURÍCIO TRINDADE DA ROCHA
Head of the Department of Financial System Monitoring