Normative Instruction BCB No. 325 of November 21, 2022: Creates and Amends Accounting Items in the Chart of Accounts of the Accounting Standard for Institutions Regulated by the Central Bank of Brazil (Cosif)

Resolution No. 222

NORMATIVE INSTRUCTION BCB NO. 325, OF NOVEMBER 21, 2022

Creates and amends accounting items in the chart of accounts of the Accounting Standard for Institutions Regulated by the Central Bank of Brazil (Cosif).

The Head of the Financial System Regulation Department (Denor), using the authority granted by Article 23, item I, letter "a" of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 84,287, of February 27, 2015, based on Article 12 of CMN Resolution No. 4,858, of October 23, 2020, and Article 10 of BCB Resolution No. 92, of May 6, 2021,

R E S O L V E S:

Article 1. Normative Instruction BCB No. 268, of April 1, 2022, shall enter into force with the following amendments:

“Article 59.
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II - 1.9.8.40.00-0 ASSETS IN INVENTORY, with attributes UBDKIFJACTSWERLMNHYZ, whose function is to record assets acquired for use or current consumption held in inventory;

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§ 1º ..........................................................................................................

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III - 1.9.8.90.00-5 OTHER NON-FINANCIAL ASSETS, all with attributes UBDKIFJACTSWERLMNHYZ:

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b) 1.9.8.90.20-1 Gold;

c) 1.9.8.90.30-4 Sustainability Assets, intended for recording investments in assets related to socio-environmental and climate sustainability mechanisms, including Carbon Credit certificates and Decarbonization Credit certificates – CBIO; and

d) 1.9.8.90.99-5 Others;

IV - 1.9.8.97.00-8 (-) PROVISION FOR IMPAIRMENT OF NON-FINANCIAL ASSETS HELD FOR SALE – OWN, all with attributes UBDKIFJACTSWERLMNHYZ:

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e) 1.9.8.97.90-5 (-) Others;

V - 1.9.8.98.00-7 (-) PROVISION FOR IMPAIRMENT OF NON-FINANCIAL ASSETS HELD FOR SALE – RECEIVED:

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e) 1.9.8.98.90-4 (-) Others, with attributes UBDKIFJACTSWERLMNHYZ; and

VI - 1.9.8.40.00-0 ASSETS IN INVENTORY, all with attributes UBDKIFJACTSWERLMNHYZ:

a) 1.9.8.40.10-3 Materials;

b) 1.9.8.40.20-6 Sustainability Assets, intended for recording assets acquired for use in actions related to socio-environmental and climate sustainability mechanisms, including Carbon Credit certificates; and

c) 1.9.8.40.90-7 Others.

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§ 3º The accounting sub-items 1.9.8.90.30-4 Sustainability Assets and 1.9.8.40.20-6 Sustainability Assets must contain internal use sub-items that allow control by type of asset.” (NR)

Article 2. Normative Instruction BCB No. 271, of April 1, 2022, shall enter into force with the following amendments:

“Article 50. ............................................................................................................

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§ 1º ............................................................................................................

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IX - 4.9.9.35.00-2 PROVISION FOR CONTINGENCIES, all with attributes UBDKIFJACTSWERLMNHY:

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h) 4.9.9.35.90-9 Other Contingencies, intended for recording provisions for other contingencies for which there is no specific account, including those arising from legal or informal obligations related to socio-environmental and climate sustainability mechanisms.

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Article 3. The provisions of this Normative Instruction apply to accounting documents prepared from the reporting base of January 2023.

Sole Paragraph. From the reporting base mentioned in the caput, any accounting balances related to sustainability assets registered in other accounting items must be reclassified into the adequate accounting items created by this Normative Instruction, observing the provisions and deadlines provided for in the current regulation.

Article 4. This Normative Instruction enters into force on January 1, 2023.

João André Calvino Marques Pereira

NOTE 1560/2022 – BCB/DENOR, OF NOVEMBER 21, 2022

Justifies the proposal for the issuance of a normative instruction amending the chart of accounts of the Accounting Standard for Institutions Regulated by the Central Bank of Brazil - Cosif.

Dear Head of Denor,

This Note justifies the proposal for the issuance of a normative instruction by the Financial System Regulation Department (Denor), using the authority granted by Article 23, item I, letter "a" of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 84,287, of February 27, 2015, based on Article 10 of BCB Resolution No. 92, of May 6, 2021, to amend the chart of accounts of the Accounting Standard for Institutions Regulated by the Central Bank of Brazil - Cosif.

2. The normative act proposal seeks to adjust the chart of accounts of the Accounting Standard for Institutions Regulated by the Central Bank of Brazil (Cosif) in order to provide greater transparency to the accounting recording of assets related to socio-environmental and climate sustainability mechanisms, such as Carbon Credit certificates and Decarbonization Credit certificates (CBIO), given the potential for growth of these operations in the financial market.

3. Considering that these assets can be acquired by financial institutions and other institutions authorized to operate by this Central Bank with the purpose of future sale and generation of profits based on price variations in the market or for use in their activities, this proposal amends Normative Instruction No. 268, of April 1, 2022, which defines the accounting items of the Realizable Asset group in the Cosif chart of accounts, to include a specific accounting sub-item intended for recording these assets both under the Other Non-Financial Assets item and the Assets in Inventory item. Additionally, the proposal amends Normative Instruction No. 271, of April 1, 2022, which defines the accounting items of the Payable Liability group, in order to clarify that any liabilities arising from legal or informal obligations related to socio-environmental and climate sustainability mechanisms must be recognized in the accounting items intended for recording provisions for contingencies.

4. It is worth noting that, in compliance with Article 5 of Law No. 13,874, of September 20, 2019, Decree No. 10,411, of June 30, 2020, determines that proposals for normative acts of general interest for economic agents formulated by federal direct, autarchic, and foundation administrative agencies, as well as by collegial bodies through the agency or entity responsible for providing administrative support, must be preceded by a Regulatory Impact Analysis (RIA).

5. In this sense, it is worth noting that, as provided in item III of Article 4 of this Decree, the requirement for RIA does not apply to normative acts considered to have low impact. Thus, based on this provision, the normative instruction proposal presented here is exempt from the preparation of an RIA, given that it only creates sub-items in accounting titles already existing in the chart of accounts, whose operational and financial impacts are almost null.

For your consideration.

Uverlan Rodrigues Primo
Deputy Head

Agreed.

João André Calvino Marques Pereira
Department Head