Resolution No. 222

INSTRUCTION NORMATIVE

BCB No. 598, OF MARCH 26, 2025

Amends
Instruction Normative BCB No. 584, of January 28, 2025.

The Head of the Department of Prudential and Exchange Regulation – Dereg, Substitute, in the use of the attributions conferred upon her by art. 23, caput, item I, letter “a”; and art. 119, caput, item I, letter “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, and having in view the provisions of arts. 8 and 11 of Resolution No. 4,606, of October 19, 2017, of arts. 3 and 6 of Resolution BCB No. 198, of March 11, 2022, of arts. 7 and 9 of Resolution BCB No. 201, of March 11, 2022, of Circular No. 3,863, of December 7, 2017, and of Resolution BCB No. 437, of November 28, 2024,

RESOLVES:

Art. 1. Instruction Normative BCB No. 584 of January 28, 2025, published in the Official Gazette of the Union on January 30, 2025, shall enter into force with the following alterations:

“Art. 1. ...................................................................................................................................

.................................................................................................................................................

V - in Annex V, for the calculation of the capital required for operational risk through the simplified standardized approach – RWAROSimp, as provided for in Circular No. 3,863, of December 7, 2017, from the base date of June 30, 2025;

VI - in Annex VI, for the calculation of the capital required for risks associated with payment services – RWASP, as provided for in Resolutions BCB Nos. 198 and 202, both of March 11, 2022; and

VII - in Annex VII, for the calculation of the capital required for operational risk through the simplified standardized approach – RWAROSimp, as provided for in Circular No. 3,863, of December 7, 2017, for the base date of December 31, 2024 and previous base dates.

§ 1. If any of the formulas presented in Annexes II to VII of this Instruction Normative results in a negative value, the value zero shall be adopted.

§ 2. In the formulas presented in Annexes I to VII, the expressions “abs(.)” and “abs [.]” correspond to the absolute value of the element included in parentheses or brackets.

.................................................................................................................................................

§ 4. For the purposes of calculating RWAROSimp on the base date of December 31, 2024 and previous base dates, the accounting items in force during the calculation period shall be used, according to Annex VII.” (NR)

Art. 2. Annex VII is included in Instruction Normative BCB No. 584 of January 28, 2025, published in the Official Gazette of the Union on January 30, 2025.

Art. 3. Lines 32 and 37 of Annex IV of Instruction Normative BCB No. 584, of January 28, 2025, published in the Official Gazette of the Union on January 30, 2025, shall enter into force with the following alterations:

No	Provision of Resolution BCB No. 437, of 2024	Non-Exposure Value – NEV, Exposure Value – EV and accounting items
Reduced Credit Risk Category III:
32	Art. 9, caput, item I, letters “a”, “b” and “c”.	Credit operations, leasing or with characteristics of credit granting: EV = [(i) + (ii) + (iii)] - [(iv) + (v)], in which: (i) 1.6.0.00.00.00-7: CREDIT OPERATIONS; (ii) 1.7.0.00.00.00-0: LEASING OPERATIONS; (iii) 1.8.1.00.00.00-0: Operations with Characteristics of Credit Granting; (iv) 3.0.9.62.00.00-0: LINKED ACTIVE OPERATIONS; and (v) 3.8.1.10.00.00-7: PROGRAMS AND OPERATIONS WITH GOVERNMENT GUARANTEES.
37	Art. 9, caput, item II, letter “b” and art. 9, § 3.	Credit commitments: EV = 40% x [(i) + (ii) + (iii) - (iv)], in which: (i) 3.0.9.85.00.00-7: SFH - FINANCING PROMISES; (ii) 3.3.4.10.10.00-0: Credit Commitments; (iii) 3.3.4.20.10.00-9: Credit Commitments; and (iv) 4.8.1.10.00.00-6: PROVISION FOR EXPECTED LOSSES WITH CREDIT COMMITMENTS.

Art. 4. This Instruction Normative enters into force on the date of its publication.

KATHLEEN KRAUSE

Annex VII

No	Provision of Circular No. 3,863, of 2017	Value – V and accounting items
Components of the Simplified Indicator of Operational Risk Exposure – 𝐵𝐼𝑆𝑖𝑚p
1	Art. 4, § 1, item II.	Interest and leasing income – RI: V = (i) + (ii) + (iii) + (iv) + (v) + (vi) + (vii) + (viii) + (ix) + (x) + (xi) + (xii) + (xiii) + (xiv) + (xv) + (xvi) + (xvii) + (xviii), in which: (i) 7.1.1.00.00-1: Income from Credit Operations; (ii) 7.1.2.00.00-4: Income from Leasing; (iii) 7.1.4.00.00-0: Income from Interfinancial Liquidity Investments; (iv) 7.1.5.10.00-0: INCOME FROM FIXED INCOME SECURITIES; (v) 7.1.5.13.00-7: INCOME FROM CERTIFICATES OF STRUCTURED OPERATIONS; (vi) 7.1.5.40.00-1: INCOME FROM INVESTMENTS IN INVESTMENT FUNDS; (vii) 7.1.5.50.00-8: INCOME FROM INVESTMENTS IN THE SOCIAL DEVELOPMENT FUND; (viii) 7.1.5.60.00-5: INCOME FROM INVESTMENTS IN ECONOMIC DEVELOPMENT SECURITIES; (ix) 7.1.9.10.00-2: INCOME FROM CREDITS LINKED TO OPERATIONS ACQUIRED IN ASSIGNMENT; (x) 7.1.9.18.00-4: INCOME FROM ADVANCEMENT OF OBLIGATIONS OF PAYMENT TRANSACTIONS; (xi) 7.1.9.25.00-4: INCOME FROM CREDITS ARISING FROM ACQUIRED EXPORT CONTRACTS; (xii) 7.1.9.50.00-0: INCOME FROM CREDITS LINKED TO GUARANTEES AND SURETIES HONORED; (xiii) 7.1.9.55.00-5: INCOME FROM CREDITS LINKED TO AGRICULTURAL CREDIT; (xiv) 7.1.9.60.00-7: INCOME FROM CREDITS LINKED TO THE CENTRAL BANK; (xv) 7.1.9.65.00-2: INCOME FROM CREDITS LINKED TO SFH; (xvi) 7.1.9.80.00-1: INCOME FROM INTERFINANCIAL TRANSFERS; (xvii) 7.1.9.85.00-6: INCOME FROM SPECIFIC CREDITS; and (xviii) 7.1.9.86.00-5: INTERCOOPERATIVE DEPOSIT INCOMES.
2	Art. 4, § 1, item III.	Interest and leasing expenses – IE: V = abs [(i) + (ii) + (iii) + (iv) + (v) + (vi) + (vii) + (viii)], in which: (i) 8.1.1.00.00-8: (-) Expenses from Funding; (ii) 8.1.2.00.00-1: (-) Expenses from Obligations by Loans and Transfers; (iii) 8.1.3.00.00-4: (-) Expenses from Leasing; (iv) 8.1.9.12.00-7: (-) EXPENSES FROM OBLIGATIONS BY OPERATIONS LINKED TO ASSIGNMENT; (v) 8.1.9.40.00-0: (-) EXPENSES FROM ASSIGNMENT OF LEASING CREDITS; (vi) 8.1.9.45.00-5: (-) EXPENSES FROM ASSIGNMENT OF CREDITS ARISING FROM EXPORT CONTRACTS; (vii) 8.1.9.50.00-7: (-) EXPENSES FROM ASSIGNMENT OF CREDIT OPERATIONS; and (viii) 8.1.9.52.00-5: (-) EXPENSES FROM DISCOUNTS GRANTED IN RENEGOTIATIONS;
3	Art. 4, § 1, item IV.	Participation income – PI: V = (i) + (ii), in which: (i) 7.1.8.00.00-2: Income from Participations; and (ii) 7.1.9.83.00-8: INCOME FROM SPECIFIC RIGHTS OF SUBSIDIARIES NOT SUBJECT TO CENTRAL BANK AUTHORIZATION.
4	Art. 4, § 1, item V.	Net financial result – NFR: V = (i) + (ii) + (iii) + (iv) + (v) + (vi) + (vii) + (viii) + (ix) + (x) + (xi), in which: (i) 7.1.3.30.00-8: INCOME FROM VARIATIONS AND DIFFERENCES IN RATES; (ii) 8.1.4.50.00-2: (-) EXPENSES FROM VARIATIONS AND DIFFERENCES IN RATES; (iii) 7.1.3.70.00-6: INCOME FROM AVAILABILITIES IN FOREIGN CURRENCIES; (iv) 7.1.5.75.00-7: PROFITS FROM FIXED INCOME SECURITIES; (v) 8.1.5.20.00-4: (-) LOSSES FROM FIXED INCOME SECURITIES; (vi) 7.1.5.90.00-6: FV - POSITIVE ADJUSTMENT TO MARKET VALUE; (vii) 8.1.5.80.00-6: (-) FV - NEGATIVE ADJUSTMENT TO MARKET VALUE; (viii) 7.1.9.15.00-7: PROFITS FROM SALES OR TRANSFERS OF FINANCIAL ASSETS; (xi) 8.1.9.15.00-4: (-) LOSSES FROM SALES OR TRANSFERS OF FINANCIAL ASSETS; (x) 8.1.5.10.00-7: (-) DISCOUNTS ON ISSUANCE OF SECURITIES; and (xi) 8.1.5.95.00-8: (-) PERMANENT LOSSES.
5	Art. 4, § 2, item III.	Service income – SI: V = (i) + (ii) + (iii), in which: (i) 7.1.3.10.00-4: INCOME FROM EXCHANGE OPERATIONS; (ii) 7.1.7.00.00-9: Income from Service Provision; and (iii) 7.1.9.70.00-4: INCOME FROM GUARANTEES PROVIDED.
6	Art. 4, § 2, item IV.	Service expenses – SE: V = abs [(i)+ (ii)+(iii)], in which: (i) 8.1.4.20.00-1: (-) EXPENSES FROM EXCHANGE OPERATIONS; (ii) 8.1.7.54.00-7: (-) EXPENSES FROM SERVICES OF THE FINANCIAL SYSTEM; and (iii) 8.1.7.63.00-5: (-) EXPENSES FROM SPECIALIZED TECHNICAL SERVICES.
7	Art. 4, § 2, item V.	Other operational income – OOI: V = (i), in which: (i) 7.1.9.99.00-9: OTHER OPERATIONAL INCOMES.
8	Art. 4, § 2, item VI.	Other operational expenses – OOE: V = abs [(i) + (ii) + (iii) + (iv) + (v) + (vi)], in which: (i) 8.1.6.00.00-3: (-) Expenses from Participations; (ii) 8.1.8.40.10-0: (-) EXPENSES FROM PASSIVE PROVISIONS; (iii) 8.1.9.65.00-9: (-) EXPENSES FROM PROAGRO RESOURCES; (iv) 8.1.9.77.00-4: (-) EXPENSES FROM SPECIFIC RIGHTS OF SUBSIDIARIES NOT SUBJECT TO CENTRAL BANK AUTHORIZATION; (v) 8.1.9.78.00-3: (-) EXPENSES FROM SPECIFIC OBLIGATIONS OF SUBSIDIARIES NOT SUBJECT TO CENTRAL BANK AUTHORIZATION; and (vi) 8.1.9.99.00-6: (-) OTHER OPERATIONAL EXPENSES.
Institutions subject to the calculation of RWASP:
Elements that must be deducted from the amounts recorded in account 7.1.7.00.00-9:
9	Art. 4, § 3.	Deducted value of service income: V = (i) + (ii) + (iii) + (iv) + (v), in which: (i) 7.1.7.05.20-0: Accreditation; (ii) 7.1.7.05.40-6: Initiation of Payment Transaction; (iii) 7.1.7.05.50-9: PIX; (iv) 7.1.7.05.60-2: Sale or Rental of Equipment and Connectivity; and (v) 7.1.7.05.99-4: Other Services Related to Payment Transactions.

INFORMATION NOTE, OF MARCH 26, 2025

Justifies the amendment of Instruction Normative BCB No. 584, of January 28, 2025.

1. This information note justifies the amendment of Instruction Normative BCB No. 584, of January 28, 2025, which details the accounting items to be used in the calculation of the minimum requirements for Simplified Reference Capital (PRS5) and Payment Institution Reference Capital (PRIP); of the amounts of risk-weighted assets in simplified form (RWAS5); and of risk-weighted assets for payment institutions (RWAIP).

2. Instruction Normative BCB No. 584 was issued to incorporate the changes promoted in the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif) by CMN Resolution No. 4,966, of November 25, 2021, and by BCB Resolution No. 352, of November 23, 2023, and to reflect the new list of accounts covered by Instructions Normative Nos. 426 to 433, all of December 1, 2023. For institutions opting for Segment 5 (S5) and institutions classified as Type 2, the calculation of RWAS5 and RWAIP is performed based exclusively on accounting information, which requires the publication of the list of accounting items used in the calculation of each of their components.

3. The amendment proposed here aims to include a new annex detailing the accounting items to be used in the calculation of the RWAS5 portion related to the calculation of the capital required for operational risk through the simplified standardized approach (RWAROSimp) for the base dates of December 31, 2024 and prior, periods in which the accounting items still followed the list of accounts prior to the alterations mentioned in paragraph 2. The calculation of RWAROSimp uses data from the three years prior to the reference base date, which makes it necessary to use accounting data from periods when the current list of accounts was not yet in force.

4. Additionally, it was observed that the provision for the exclusion of the Emergency Program for Access to Credit (PEAC - Maquininhas) finds its parameter clearly defined and circumscribed to that established in art. 4, § 2, item VI, of Resolution BCB No. 437, of 2024. Thus, it is necessary to make the adjustment made in line 32 of Annex IV of this Instruction Normative, in order to make more transparent the exclusion of the account of the aforementioned program from the calculation of the exposure value present there, including to correctly align it with that provided for in art. 9, § 1, item II, of the aforementioned Resolution.

5. Finally, line 37 of Annex IV is modified to reflect the parametrization as provided for in art. 9, caput, item II, letter “b”, and § 3, of Resolution BCB No. 437, of 2024.

6. In this regard, it is worth noting that, as provided for in item II of art. 4 of Decree No. 10,411, of June 30, 2020, the obligation to conduct a regulatory impact analysis (AIR) does not apply to normative acts intended to regulate rights or obligations defined in a hierarchically superior norm that does not allow, technically or legally, different regulatory alternatives. Thus, in view of this provision, I decide to waive the regulatory impact analysis referred to in art. 5 of Law No. 13,874, of September 20, 2019.

7. In this context, based on the provisions of art. 23, item I, letter “a”, of the Internal Regulations of this Central Bank, I resolve to issue the instruction normative in the form of the attached draft.

KATHLEEN KRAUSE
Substitute Head of the Department of Prudential and Exchange Regulation