Normative Instruction BCB No. 539 of November 5, 2024

This instruction amends the Cosif Accounting Standard by adding new liability account items for Development Credit Letters and capital eligibility classifications, while removing obsolete accounts for central bank rediscounting, compulsory reserves, and lease liability remeasurements. It also updates definitions for foreign currency obligations, specific obligations of non-authorized controlled entities, unearned revenues, and initial recognition gains. These changes apply to financial institutions and other entities authorized by the Central Bank of Brazil to align with IFRS 9 requirements and correct prior structural improprieties. The amendments take effect on November 11, 2024.

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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,

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This document amends: Normative Instruction BCB No. 429 — Defines the accounting items of the Required Liabilities group of the Chart of Accounts of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif)

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works