Normative Instruction BCB No. 469 of May 3, 2024

NORMATIVE INSTRUCTION BCB NO. 469, OF MAY 3, 2024

Amends Normative Instruction BCB No. 195, of December 9, 2021, which establishes procedures for the submission of the Analytical Trial Balance and the Analytical Balance Sheet by financial institutions and other institutions authorized to operate by the Central Bank of Brazil.

The Head of the Financial System Monitoring Department (Desig), using 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 in view of the provisions of CMN Resolutions No. 4,858, of October 23, 2020, No. 4,911, of May 27, 2021, and No. 4,966, of November 25, 2021, BCB Resolutions No. 92, of May 6, 2021, No. 146, of September 28, 2021, and No. 352, of November 23, 2023, and Normative Instructions BCB Nos. 426, 427, 428, 429, 430, 431, 432, and 433, all of December 1, 2023,

RESOLVES:

Article 1. New versions of the filling instructions and the Layout of documents code 4010 - Analytical Trial Balance and 4016 - Analytical Balance Sheet, available on the Central Bank of Brazil’s website at the electronic address https://www.bcb.gov.br/estabilidadefinanceira/leiautedocumentoscrd, shall enter into force, effective as of the reference date of January 2025, with the following modifications:

I - alteration of the accounting items of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif), as defined in Normative Instructions BCB Nos. 426, 427, 428, 429, 430, 431, 432, and 433, all of December 1, 2023; and

II - alteration of the submission format: XML (Extensible Markup Language).

Article 2. Normative Instruction BCB No. 195, of December 9, 2021, shall enter into force, effective as of the reference date of January 2025, with the following amendment:

“Article 1. ...........................................................................................................

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

§ 5. The preparation of the documents referred to in this article must be done observing the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif) defined in Normative Instructions BCB Nos. 426, 427, 428, 429, 430, 431, 432, and 433, all of December 1, 2023.” (NR)

Article 3. The annex to Normative Instruction BCB No. 195, of December 9, 2021, shall enter into force, effective as of the reference date of January 2025, with the following amendment:

“ANNEX TO NORMATIVE INSTRUCTION BCB NO. 195,
OF DECEMBER 9, 2021

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

Submission Format: XML (Extensible Markup Language).

....................................................................................................................”
(NR)

Article 4. This Normative Instruction enters into force on January 1, 2025.

ANDRÉ MAURÍCIO TRINDADE DA ROCHA

NOTE

The accounting documents 4010 - Analytical Trial Balance and 4016 - Analytical Balance Sheet, created based on CMN Resolution No. 4,911, of May 27, 2021, and BCB Resolution No. 146, of September 28, 2021, and governed by Normative Instruction BCB No. 195, of December 9, 2021, are prepared by financial institutions and other institutions authorized to operate by the Central Bank of Brazil (IFs) and must be submitted to this Agency in accordance with the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif).

2. CMN Resolution No. 4,966, of November 25, 2021, and BCB Resolution No. 352, of November 23, 2023, concluded the harmonization process of 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). To allow that the accounting bookkeeping in the Cosif account plan be aligned with the criteria and accounting procedures established in the regulation issued by the CMN and the BCB, it was necessary to alter the items of said account plan, which resulted in the issuance of Normative Instructions BCB (INs) Nos. 426, 427, 428, 429, 430, 431, 432, and 433, all of 2023. With the issuance of these INs, there was a significant alteration of the Cosif, with the inclusion of one more level in its list of accounts, going from the current 5 levels to 6, which is being called Cosif version 1.5. As a direct consequence of this alteration, it is necessary to alter documents 4010 and 4016 so that they can reflect the new list of accounts.

3. Another direct consequence is the need to restructure the Cosif System, which receives and processes the accounting documents, including documents 4010 and 4016.

4. The accounting documents 4010 and 4016 are still prepared by IFs in TXT (text) format, an obsolete format. The maintenance of documents in TXT format represents an additional cost not only for the Central Bank but also for the IFs. This is because almost all other documents prepared and submitted to this Central Bank are in XML (eXtensible Markup Language) format, a format that is already mastered by IFs and represents a huge evolution compared to TXT, being an open, structured, and easy-to-read format for both people and computers, in addition to allowing content validation, which makes the document test more effective and simpler to perform.

5. Due to restrictions, especially regarding time and personnel, the necessary alteration of the TXT and XML modules of the Cosif System would likely compromise the January 2025 deadline, agreed upon for the entry into force of Cosif version 1.5. Therefore, to enable the reading of the new account plan, it was decided to alter only the XML file reading module of the Cosif System.

6. Thus, effective as of the reference date of January 2025, taking advantage of the fact that institutions will already have to alter the generation of documents 4010 and 4016 for the new plan, it is deemed appropriate to alter documents 4010 and 4016 from the current TXT format to the XML format, similar to other Cosif documents that have already been forwarded in this format since 2014.

7. With this, all files of the Cosif system will be in the same format, and the generation costs by IFs can be reduced, as well as the internal processing costs by the Central Bank.

8. Decree No. 10,411, of June 30, 2020, regulates the conduct of regulatory impact analysis (AIR) as a prerequisite for the issuance of normative acts. However, in its Article 4, the Decree establishes the hypotheses for exemption from conducting AIR. This BCB IN falls under the hypotheses provided for in items II - normative act intended to regulate rights or obligations defined in a hierarchically superior norm that does not technically or legally allow different regulatory alternatives; III - normative act considered to have low impact; and VII - normative act that reduces requirements, obligations, restrictions, requests, or specifications with the objective of reducing regulatory costs.

9. In view of the issuance of the normative acts cited in paragraph 2 and aiming to allow institutions to correctly determine and inform the Analytical Trial Balance and the Analytical Balance Sheet, there is no alternative but to alter documents 4010 and 4016, thus justifying the classification under item II of Article 4 of Decree No. 10,411, of 2020. Furthermore, since documents 4010 and 4016 are used by institutions to send the Analytical Trial Balance and the Analytical Balance Sheet, it is understood that the alteration of these documents, both in format and content, is the simplest and lowest-cost implementation method, both for the institutions and for this Central Bank, which also justifies its classification under item III of Article 4 of said Decree. Finally, the classification of the present normative act under item VII of the cited Decree is justified, as documents in the old and obsolete format will no longer be required, which will generate cost reduction, as already clarified.

10. Thus, based on the provisions of paragraphs 8 and 9, it is understood that the issuance of this Normative Instruction is exempt from conducting AIR.

ANDRÉ MAURÍCIO TRINDADE DA ROCHA
Head of the Financial System Monitoring Department (Desig)