Normative Instruction BCB No. 386 of May 30, 2023

Resolution No. 222

BCB NORMATIVE INSTRUCTION NO. 386, OF MAY 30, 2023

Amends BCB Normative Instructions Nos. 268, 272, and 275, all of April 1, 2022, to create and alter accounting line items in the list of accounts of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif) for the recording of foreign exchange exposure arising from future commitments and to include an attribute in an account for the recording of securities available for sale in equity and amounts receivable related to payment transactions.

The Head of the Department of Regulation of the Financial System (Denor), using the authority conferred by art. 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 arts. 12 of CMN Resolution No. 4,858, of October 23, 2020, and 10 of BCB Resolution No. 92, of May 6, 2021,

R E S O L V E S:

Art. 1º BCB Normative Instruction No. 268, of April 1, 2022, shall be amended as follows:

"Art. 55.
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XIX - 1.8.8.79.00-3 AMOUNTS RECEIVABLE RELATED TO PAYMENT TRANSACTIONS, with attributes UBDIFJASERLMNYZ, whose function is to record the amounts that issuers of post-paid payment instruments are to receive from end users, related to payment transactions with post-paid payment instruments;

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§ 1º
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IX - 1.8.8.79.00-3 AMOUNTS RECEIVABLE RELATED TO PAYMENT TRANSACTIONS, all with attributes UBDIFJASERLMNYZ:

................................................................................................................." (NR)

"Art. 56. ...........................................................................................................

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Sole Paragraph. ..............................................................................................

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II - 1.8.9.96.00-3 (-) PROVISION FOR AMOUNTS RECEIVABLE RELATED TO PAYMENT TRANSACTIONS, all with attributes UBDIFJASERLMNYZ:

................................................................................................................." (NR)

Art. 2º BCB Normative Instruction No. 272, of April 1, 2022, shall be amended as follows:

"Art. 9º ............................................................................................................

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Sole Paragraph. ..............................................................................................

I - ......................................................................................................................

a) 6.1.6.10.10-9 (+/-) Own Funds, with attributes UBDIFJACTSWELMNHYZ; and

................................................................................................................." (NR)

Art. 3º BCB Normative Instruction No. 275, of April 1, 2022, shall be amended as follows:

"Art. 8º ............................................................................................................

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

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III - ....................................................................................................................

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c) 9.0.6.95.60-7 Obligations for Loans and Transfers, with attributes UBDKIFJACTSWERLMNHZ;

d) 9.0.6.95.70-0 Foreign Exchange Exposure Arising from Expenses to be Incurred, with attributes UBDKIFJACTSWERLMNHZ, which is intended to record, in national currency, the foreign exchange exposure arising from expenses in foreign currency expected to be incurred, at most, in the next twelve months, designated as the object of hedge of cash flow; and

e) 9.0.6.95.90-6 Other Liabilities, with attributes UBDKIFJACTSWERLMNHYZ.

................................................................................................................." (NR)

Art. 4º The provisions of this Normative Instruction apply to accounting documents prepared from the July 2023 reporting date.

Art. 5º This Normative Instruction enters into force on July 1, 2023.

João André Calvino Marques Pereira

NOTE 512/2023–BCB/DENOR, OF MAY 30, 2023

Justifies the proposal for the issuance of a normative instruction that amends BCB Normative Instructions Nos. 268, 272, and 275, all of April 1, 2022, which define accounting line items of groups in the list of accounts of the Accounting Standard of 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 that creates and alters accounts for the recording of operations of the Credit Stimulation Program (PEC), according to the competence of the Department of Regulation of the Financial System (Denor), using the authority conferred by art. 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 arts. 12 of CMN Resolution No. 4,858, of October 23, 2020, and 10 of BCB Resolution No. 92, of May 6, 2021.

2. The proposed normative instruction aims to update the chart of accounts of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif), in order to allow the control of cash flow hedge operations governed by Circular No. 3,082, of January 30, 2002, open until January 1, 2025, with the objective of compensating, in whole or in part, the risk of foreign exchange variation arising from future commitments expected to be incurred, at most, in the next twelve months, for the purpose of calculating the daily value of the risk-weighted assets (RWA) portion related to exposures in gold, in foreign currency, and in assets subject to foreign exchange variation whose capital requirement is calculated using the standardized approach (RWACAM), as well as the foreign exchange exposure limit, as defined by Circular No. 3,641, of March 4, 2013, with wording given by BCB Resolution No. 312 of April 26, 2023.

3. Furthermore, the proposal includes the "J" attribute related to micro-entrepreneur credit societies, direct credit societies, and peer-to-peer lending societies, in the accounting subtitle 6.1.6.10.10-9 Own Funds, part of the accounting title 6.1.6.10.00-6 SECURITIES AVAILABLE FOR SALE, given that these institutions are authorized to operate with securities and keep them classified as "available for sale," as provided in Circular No. 3,068, of November 8, 2001.

4. In addition, the "J" attribute will also be included in the subtitles of titles 1.8.8.79.00-3 AMOUNTS RECEIVABLE RELATED TO PAYMENT TRANSACTIONS and 1.8.9.96.00-3 (-) PROVISION FOR AMOUNTS RECEIVABLE RELATED TO PAYMENT TRANSACTIONS, given that the aforementioned segments can carry out operations in payment arrangements.

5. In compliance with the provisions of art. 5º of Law No. 13,874, of September 20, 2019, Decree No. 10,411, of 2020, determines that proposals for normative acts of general interest of economic agents formulated by bodies and entities of the direct, autarchic, and foundation federal public administration, as well as by collegiate bodies through the body or entity responsible for providing administrative support, must be preceded by a regulatory impact analysis (RIA).

6. However, as provided in art. 4º, items II and III, of this Decree, the obligation to prepare an RIA may be waived for a normative act of low impact or that aims to regulate rights or obligations defined in a hierarchically superior norm that does not allow, technically or legally, different regulatory alternatives. Thus, in light of these provisions, the proposed normative instruction is exempt from the preparation of an RIA, as it only creates a recording mechanism for accounting control of the method of calculating limits established in a normative act approved by the Collegiate Board of this Central Bank, as well as allows the use of a Cosif account for certain segments of financial institutions.

For your consideration.

Uverlan Rodrigues Primo
Deputy Head

Agreed.

João André Calvino Marques Pereira
Department Head