INSTRUCTION NORMATIVE BCB NO. 570, OF DECEMBER 20, 2024

Sets the deadline for submitting the base dates for January, February, and March 2025 of document code 4111 – Daily Accounting Balances, as provided for in Instruction Normative BCB No. 524, of September 18, 2024.

The Head of the Department of Financial System Monitoring – DESIG, acting within the authority granted by Article 23, item I, letter “a”, of the Internal Regulations of the Central Bank of Brazil, published through Resolution BCB No. 340, of September 21, 2023, based on Article 85, item I, letter “b”, of said Regulations, and considering the provisions of CMN Resolution No. 4,966, of November 25, 2021, BCB Resolutions Nos. 208, of March 22, 2022, 352, of November 23, 2023, and 428, of November 7, 2024, and Instruction Normative BCB No. 524, of September 18, 2024,

RESOLVES:

Art. 1 This Instruction Normative establishes the deadline for submission to the Central Bank of Brazil, regarding the base dates for the months of January, February, and March 2025, of document code 4111 – Daily Accounting Balances, as provided for in Instruction Normative BCB No. 524, of September 18, 2024.

Art. 2 Financial institutions and other institutions authorized to operate by the Central Bank of Brazil, in accordance with current regulations, are permitted to submit document code 4111 – Daily Accounting Balances, referring to the base dates for the months of January, February, and March 2025, until April 5, 2025.

Art. 3 This Instruction Normative enters into force on the date of its publication.

ANDRÉ MAURÍCIO TRINDADE DA ROCHA

NOTE

Document code 4111 – Daily Accounting Balances, containing information related to daily deposits recorded in accounting positions of an active and passive nature, and to the financial volume of payment transactions carried out on the day, by financial institutions and other institutions authorized to operate by the Central Bank of Brazil – IFs, classified in Segment 1 – S1, Segment 2 – S2, Segment 3 – S3, or Segment 4 – S4, or electronic currency issuers, was created based on Article 2, items I and III, of BCB Resolution No. 208, of March 22, 2022, and its preparation and submission were regulated by Instruction Normative BCB No. 101, of April 26, 2021.

2. CMN Resolution No. 4,966, of November 25, 2021, and BCB Resolution No. 352, of November 23, 2023, concluded the process of harmonizing 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.

3. To align accounting bookkeeping in the COSIF chart of accounts with the accounting criteria and procedures established by regulations issued by the National Monetary Council – CMN and the Central Bank of Brazil – BCB, it was necessary to alter the items of said chart of accounts. These changes were implemented through BCB Instruction Normatives – INs Nos. 426, 427, 428, 429, 430, 431, 432, and 433, all of 2023, culminating in a significant restructuring of COSIF, which expanded from the current five to six levels of accounts. This new structure, designated COSIF version 1.5, will enter into force on January 1, 2025.

4. Considering the significant changes being implemented, BCB Resolution No. 428, of November 7, 2024, was issued, which relaxes the deadline for the submission of the following accounting documents: 4010 – Analytical Balance Sheet, 4060 – Analytical Balance Sheet – Prudential Conglomerate, and 4500 – Banking Statistics. Consequently, the aforementioned documents, relating to the base dates of January and February 2025, may be submitted to the Central Bank of Brazil until March 31, 2025.

5. The relaxation of the deadline was requested by the Brazilian Association of International Banks – ABBI, the Brazilian Federation of Banks – Febraban, and the Brazilian Bank Association – ABBC, which reported operational difficulties faced by their members in submitting accounting documents relating to the base dates of January and February 2025.

6. Thus, after analyzing the request, the extension of the deadline was also deemed adequate for the submission of document code 4111 – Daily Accounting Balances, whose management falls under the responsibility of the Department of Financial System Monitoring – DESIG. As it is a daily submission document, prepared in accordance with the COSIF Instruction Normatives, its information must be aligned with the other postponed documents, as described in paragraph 4. Therefore, the new deadline for sending document 4111, referring to the base dates for the months of January, February, and March 2025, has been postponed until April 5, 2025.

7. Decree No. 10,411, of June 30, 2020, which regulates the carrying out of regulatory impact analysis – AIR as a prerequisite for the issuance of normative acts, provides, in its Article 4, the circumstances for exemption from carrying out an AIR. This Instruction Normative falls under the circumstance provided for in item VII of said Article, applicable to normative acts that reduce requirements, obligations, restrictions, requests, or specifications with the objective of reducing regulatory costs.

8. The extension of the deadline for the submission of accounting documents to the Central Bank, now proposed, aims to reduce regulatory costs for regulated institutions, by granting an additional deadline for the preparation and submission of said documents, thus justifying the classification of this Instruction Normative under item VII of Article 4 of Decree No. 10,411, of 2020.

9. Therefore, based on the provisions of paragraphs 7 and 8, I understand that the issuance of this BCB IN is exempt from the carrying out of an AIR.

ANDRÉ MAURÍCIO TRINDADE DA ROCHA
Department of Financial System Monitoring