Instruction Normative BCB No. 621 — Establishes Procedures for Monthly Remittance of Information to the Central Bank of Brazil Regarding Interest and Charges on Revolving Credit Card and Installment Operations

CODIFIED CIRCULAR LETTER

INSTRUCTION
NORMATIVE BCB NO. 621, OF MAY 13, 2025.

Establishes the procedures for the monthly remittance of information to the Central Bank of Brazil regarding the interest and charges accumulated in revolving credit card operations and invoice installment operations related to credit cards and other post-payment payment instruments, as provided for in Resolution BCB No. 468, of April 30, 2025.

The Head of the Statistics Department (DSTAT), in the exercise of the powers conferred upon him by art. 23, item I, letter “a”, combined with art. 103, item I, 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 Resolution BCB No. 468, of April 30, 2025,

RESOLVES:

Art. 1º This
Instruction Normative establishes procedures for the remittance of monthly information regarding the interest and charges accumulated in revolving credit card operations and invoice installment operations related to credit cards and other post-payment payment instruments, as provided for in Resolution BCB No. 468, of April 30, 2025.

Art. 2º The information referred to in art. 1º must be sent by means of document code 3060 - Accumulated Interest on Credit Card, observing the instructions contained in the Annex of this Instruction Normative.

Sole Paragraph. The layout, the filling instructions, and other information necessary for the preparation of the document referred to in the caput are available on the Central Bank of Brazil’s website, at the electronic address https://www.bcb.gov.br/estabilidadefinanceira/leiautedocumentoscrd.

Art. 3º The remittance of the documents referred to in art. 2º must be made monthly, by the tenth business day following the last day of the month of reference.

Sole Paragraph. As provided for in the sole paragraph of art.
2º of Resolution BCB No. 468, of April 30, 2025, the remittance referred to in the caput must be made individually, with one document to be sent per institution.

Art. 4º The information referred to in art. 1º comprises the percentages representing the relationship between the amounts of interest and financial charges accumulated in credit card invoices and other post-payment payment instruments, from the date of installment or revolving credit, and the original values of the debts financed through revolving credit or invoice installment.

Art. 5º Only operations with natural person customers and that have been financed through revolving credit card or invoice installment after January 3, 2024 (inclusive), as provided for in Resolution CMN No. 4.549, of January 26, 2017, must be considered.

Art. 6º The percentages corresponding to percentiles 25, 50, 75, and 100 of revolving credit and invoice installment operations must be reported.

Art. 7º As provided for in the sole paragraph of art. 4º of Resolution BCB No. 468, of April 30 2025, institutions that do not present balances throughout the month regarding revolving credit card operations and invoice installment are exempt from the remittance of document 3060.

§ 1º The registration of the exemption referred to in the caput must be made in the Document Remittance Control System (CRD), available on the Central Bank of Brazil’s website, at the electronic address https://www3.bcb.gov.br/crd, observing the provisions of the CRD User Manual, available at the electronic address https://www.bcb.gov.br/estabilidadefinanceira/controledocumentosif.

§ 2º If the institution again presents a balance related to revolving credit card operations, the institution must register this occurrence in the CRD and send document 3060 from this date onwards.

Art. 8º The institutions mentioned in art. 1º of the Resolution BCB No. 468, of April 30, 2025, must indicate a representative qualified to answer any questions regarding the information provided under the terms of this Instruction Normative.

Sole Paragraph. The indication of a representative qualified to answer any questions must be registered and kept updated in the System of Information on Entities of Interest to the Central Bank (Unicad), as provided for in Resolution BCB No. 209, of March 22, 2022.

Art. 9º This
Instruction Normative enters into force on July 1, 2025.

FERNANDO ALBERTO G SAMPAIO C ROCHA

Head of the Statistics Department

Annex to Instruction Normative BCB No. 621, OF MAY 13, 2025

Document Code: 3060.

Document Name: Document 3060 – Accumulated Interest on Credit Card.

Remittance Frequency: Monthly.

Deadline for Remittance: 10th business day following the last day of the reference month.

Base Date: Last business day of the month of reference.

Responsible Unit for Custody: Statistics Department (DSTAT).

Remittance Method: Electronic means.

System for Remittance: File Transfer System (STA), available on the Central Bank of Brazil’s website, at the address https://sta.bcb.gov.br/sta/.

Format for Remittance: XML (eXtensible
Markup Language).

Validation of Remittance: Anticipated.

Remittance Validation Schema: XSD
(XML Schema Definition).

Additional Elements for Remittance:
layout, in XML format; models, in Excel format; XSD validation schemas; sample files; validator program; and filling instructions, available on the Central Bank of Brazil’s website, at the address https://www.bcb.gov.br/estabilidadefinanceira/leiautedocumentoscrd.

Director Responsible for Remittance:
Director responsible for Accumulated Interest on Card information – Resolution BCB No. 468, of April 30, 2025.

Director Responsible Registration: in the “Links – Inclusion – Director Responsible by Area of Activity” module of Unicad.

Registration of the Representative Indicated to Answer Questions: in the “Links – Inclusion – Responsible for Sending Information” module of Unicad.

Electronic Address for Resolution of
Doubts about Filling and Remittance of the Document: dimob.dstat@bcb.gov.br

Institutions obliged to remittance: savings and loan associations; National Bank for Economic and Social Development (BNDES); commercial banks; foreign exchange banks; development banks; investment banks; multiple banks; savings banks; mortgage companies; leasing companies; credit, financing and investment companies; and real estate credit companies.

NOTE

The Remittance of Information on Accumulated Interest on Credit Cards to the Central Bank of Brazil, regulated by Resolution BCB No. 468, of April 30, 2025, consists of sending information regarding interest and charges accumulated in credit card operations and other post-payment payment instruments of financial institutions and other institutions authorized to operate by the Central Bank of Brazil with the objective of offering to society and economic agents information about these operations, considering the limitation established by Law No. 14.690, of October 3, 2023.

2. Law No. 14.690, of 2023, began to produce
   effects on January 3, 2024, and imposes a communication challenge on the Central Bank of Brazil (BCB). The law established a limit for the amount of interest and charges that can be accumulated in revolving or installment credit card debtor balances. However, it did not establish a limit for the interest rates of these operations. The BCB will need to clarify to the public the distinction between the limit prescribed by the law, which concerns interest amounts, and the credit card interest rates, which were not limited by the law and will continue to appear in the statistics published by the BCB. For this purpose, it will be essential to complement the publication of credit card interest rate statistics with data on the amounts of interest and charges accumulated.

3. Decree No. 10.411, of June 30, 2020,
   regulated the conduct of regulatory impact analysis (AIR) as a prerequisite for the issuance of normative acts. However, in its art. 4º, the aforementioned decree establishes the hypotheses for exemption from conducting an AIR. This Instruction Normative falls under item III - normative act considered low impact.

4. For the assessment of the compliance cost of the
   new information requirements, the Statistics Department (DSTAT) held meetings with the financial institutions that comprised the initial sample. Over the months in which the methodology for data collection and sending was consolidated, the institutions assessed that this data collection does not impose relevant additional costs, since the requested data are necessary for internal control, aiming at compliance with the limitation imposed by Law No. 14.690, of 2023, as well as for demonstration to customers in order to comply with the determinations of Resolution No. 4.549, of 2017. Additionally, an email was sent to Febraban and ABBC regarding the expansion of the sample to all financial institutions participating in this market, with favorable responses. In this way, we consider that this calculation meets the legal objectives with the lowest possible cost for financial institutions.

5. Thus,
   based on the provisions of paragraphs 3 and 4, I understand that the issuance of this Instruction Normative is exempt from conducting an AIR.

FERNANDO ALBERTO G SAMPAIO C ROCHA
Head of the Statistics Department