Normative Instruction BCB No. 539 of November 5, 2024

BCB NORMATIVE INSTRUCTION NO. 539, OF NOVEMBER 5, 2024

Amends BCB Normative Instruction No. 429, of December 1, 2023, which defines the accounting items of the Required Liability group of the account list of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif) for use by financial institutions and other institutions authorized to operate by the Central Bank of Brazil.

The Head of the Financial System Regulation Department (Denor), in exercise of the authority conferred by Art. 23, item I, letter "a", of the Internal Regulations of the Central Bank of Brazil, annexed to BCB Resolution No. 340, of September 21, 2023, based on Art. 12 of CMN Resolution No. 4,858, of October 23, 2020, and Art. 10 of BCB Resolution No. 92, of May 6, 2021,

R E S O L V E S:

Art. 1 The following accounting items are included in Annex III of BCB Normative Instruction No. 429, of December 1, 2023, published in the Official Gazette of the Union on December 14, 2023, observing the order of the "Account Code" column:

Account Code	Account Name	Estban	Function
4.3.2.60.00.00-3	DEVELOPMENT CREDIT LETTERS	500	Record, by development banks or by BNDES, the obligations represented by Development Credit Letters issued by the institution.
4.3.9.99.10.10-6	(+/-) Eligible for Core Capital	-	-
4.3.9.99.10.20-9	(+/-) Eligible for Supplementary Capital	-	-
4.3.9.99.10.30-2	(+/-) Eligible for Tier 2 Capital	-	-

Art. 2 The following accounting item is excluded from Annex IV of BCB Normative Instruction No. 429, of 2023:

Account Code	Account Name	Estban	Function
4.4.2.20.00.00-0	CENTRAL BANK REDISCOUNT - PURCHASE WITH COMMITMENT TO RESELL - OTHER ASSETS	458	Record the obligations arising from operations in the purchase modality, with commitment to resell before the Central Bank of Brazil, involving other assets that are not federal public bonds.

Art. 3 The following accounting items are excluded from Annex VI of BCB Normative Instruction No. 429, of 2023:

Account Code	Account Name	Estban	Function
4.6.1.90.00.00-2	CENTRAL BANK - CREDIT BALANCES IN RESERVES	461	Record, on the date of occurrence, any credit balances presented in MANDATORY RESERVES IN KIND AT THE CENTRAL BANK. This item must be updated in counterpart to item 8.1.2.10.00.00-8 (-) EXPENSES OF FINANCIAL ASSISTANCE AND SPECIAL PROGRAMS – CENTRAL BANK.
4.6.8.50.20.60-7	(+/-) Remeasurements of Lease Liability	-	-
4.6.8.60.20.60-6	(+/-) Remeasurements of Lease Liability	-	-

Art. 4 The following accounting item is amended in Annex VII of BCB Normative Instruction No. 429, of 2023:

Account Code	Account Name	Estban	Function
4.7.1.30.30.00-2	Operations with Other Financial Assets	-	-

Art. 5 The following accounting items are amended in Annex IX of BCB Normative Instruction No. 429, of 2023:

Account Code	Account Name	Estban	Function
4.9.8.20.00.00-7	OBLIGATIONS IN FOREIGN CURRENCY	500	Record obligations in foreign currency for which there is no specific account.
4.9.9.94.00.00-9	SPECIFIC OBLIGATIONS OF CONTROLLED ENTITIES NOT SUBJECT TO CENTRAL BANK AUTHORIZATION	500	Record, by the lead institution, in the Analytical Balance Sheet - Prudential Conglomerate, the characteristics of the segments in which the controlled entities not subject to authorization by the Central Bank of Brazil operate, for which there is no specific item.
4.9.9.99.00.00-4	REVENUES TO BE APPROPRIATED	500	Record revenues received in advance, to be appropriated, by competence, in future periods.

Art. 6 The following accounting item is included in Annex IX of BCB Normative Instruction No. 429, of 2023, observing the order of the "Account Code" column:

Account Code	Account Name	Estban	Function
4.9.9.98.00.00.1	GAINS IN INITIAL RECOGNITION TO BE APPROPRIATED	500	Record deferred gains resulting from the difference, at initial recognition, between the value of the consideration paid or received in the acquisition, origination, or issuance of the financial instrument, except those classified in the amortized cost category, and its fair value, when this is measured at level 3 of the fair value hierarchy.

Art. 7 This Normative Instruction enters into force on November 11, 2024.

GILNEU FRANCISCO ASTOLFI VIVAN

NOTE 759/2024 – BCB/DENOR, OF NOVEMBER 5, 2024

Justifies the proposal for the issuance of a normative instruction that alters accounting items of the Required Liability group of the account list of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif).

Mr. Head of Denor,

This Note justifies the proposal for the issuance of a normative instruction that alters accounting items of the account list of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif), in accordance with the competence of the Financial System Regulation Department (Denor), in exercise of the authority conferred by Art. 23, item I, letter "a", of the Internal Regulations of the Central Bank of Brazil (BCB), annexed to BCB Resolution No. 340, of September 21, 2023, based on Art. 12 of CMN Resolution No. 4,858, of October 23, 2020, and Art. 10 of BCB Resolution No. 92, of May 6, 2021.

2. After the conclusion of the harmonization process of the accounting standards provided for in Cosif with the international pronouncement IFRS 9 – Financial Instruments, issued by the International Accounting Standards Board (IASB), it was necessary to promote changes in the account structure of the Cosif chart of accounts, in order to allow the creation of new items and to meet the needs derived from the implementation of international standards.

3. Thus, in December 2023, based on BCB Resolution No. 92, of 2021, normative instructions were issued consolidating the structure of the Cosif chart of accounts, with effect from January 2025. However, after the issuance of the normative instructions, it was found necessary to make some adjustments, in order to incorporate new changes to the account structure, to meet new legal and regulatory requirements, correct improprieties, and improve the quality of information provided. Therefore, it is necessary to adjust Annexes III, IV, VI, VII, and IX of BCB Normative Instruction No. 429, of December 1, 2023, which defines the accounting items of the Required Liability group of the Cosif account list.

4. Finally, in compliance with the provisions of Art. 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 of economic agents formulated by bodies and entities of the direct, autarchic, and foundational federal public administration, as well as by collegiate bodies through the body or entity responsible for providing them with administrative support, must be preceded by a Regulatory Impact Analysis (RIA).

5. However, as provided in Art. 4, items II, IV, and VII, of this Decree, the obligation to prepare an RIA may be waived for a normative act that aims to regulate rights or obligations defined in a hierarchically superior norm that does not allow, technically or legally, different regulatory alternatives, that aims to update or revoke norms considered obsolete, without change of merit, and also for normative acts that reduce requirements, obligations, restrictions, requests, or specifications with the objective of reducing regulatory costs. Thus, in light of these provisions, the normative instruction now proposed is exempt from the preparation of an RIA.

For your consideration.

UVERLAN RODRIGUES PRIMO

Deputy Head

Agreed.

GILNEU FRANCISCO ASTOLFI VIVAN

Department Head