Normative Instruction BCB No. 540 — Amends Normative Instruction BCB No. 430 of December 1, 2023, Defining Accounting Items of the Equity Group in the Cosif Chart of Accounts

Cosif Amendments

NORMATIVE INSTRUCTION BCB NO. 540, OF NOVEMBER 5, 2024

Amends Normative Instruction BCB No. 430, of December 1, 2023, which defines the accounting items of the Equity group in the chart of accounts of the Accounting Standard for 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 Department of Financial System Regulation (Denor), using the authority conferred by art. 23, item I, letter "a", of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, 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,

RESOLVES:

Art. 1 The following accounting items are included in Annex I of Normative Instruction BCB No. 430, 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
6.1.5.10.40.00-9	APE - RESERVE AND EMERGENCY FUNDS	-	Record reserve and emergency funds of savings and loan associations.
6.1.6.15.10.00-0	(+/-) Interfinancial Liquidity Applications	-	-
6.1.6.15.20.00-7	(+/-) Non-Equity Securities and Financial Instruments	-	-
6.1.6.15.30.00-4	(+/-) Equity Financial Instruments	-	-
6.1.6.15.90.00-6	(+/-) Other Financial Instruments	-	-

Art. 2 The following accounting items are excluded from Annex I of Normative Instruction BCB No. 430, of 2023:

Account Code	Account Name	Estban	Function
6.1.5.70.00.00-5	APE - RESERVE AND EMERGENCY FUNDS	610	Record reserve and emergency funds of savings and loan associations.
6.1.6.18.00.00-2	(+/-) EQUITY FINANCIAL INSTRUMENTS CLASSIFIED AS FVOCI	610	Record, net of tax effects, adjustments of equity financial instruments classified as fair value through other comprehensive income.

Art. 3 The following accounting items are amended in Annex I of Normative Instruction BCB No. 430, of 2023:

Account Code	Account Name	Estban	Function
6.1.6.00.00.00-9	(+/-) Revaluation Adjustments	-	-
6.1.6.15.00.00-3	(+/-) FINANCIAL INSTRUMENTS CLASSIFIED AS FVOCI	610	Record, net of tax effects, adjustments of equity financial instruments classified as fair value through other comprehensive income
6.1.7.00.00.00-6	(+/-) Accumulated Surpluses or Losses	-	-
6.1.7.10.00.00-5	(+/-) ACCUMULATED SURPLUSES OR LOSSES	-	Record the remaining balance of surpluses or losses of credit cooperatives.
6.1.8.00.00.00-3	(+/-) Accumulated Profits or Losses	-	-
6.1.8.10.00.00-2	(+/-) ACCUMULATED PROFITS OR LOSSES	610	Record the remaining balance of profits (or losses), after reversals, adjustments, and allocations.
6.1.8.80.00.00-5	(-) CAPITAL REMUNERATION PAID IN ADVANCE	610	Record capital remuneration paid before its declaration.

Art. 4 The following accounting item is amended in Annex II of Normative Instruction BCB No. 430, of 2023:

Account Code	Account Name	Estban	Function
6.4.1.10.00.00-2	NON-CONTROLLING INTERESTS	610	Record, in consolidated documents, by the leading institution of the prudential conglomerate, non-controlling interests, separately from the equity attributed to the owners of the controlling entity.

Art. 5 This Normative Instruction enters into force on November 11, 2024.

GILNEU FRANCISCO ASTOLFI VIVAN

NOTE 760/2024 – BCB/DENOR, OF NOVEMBER 5, 2024

Justifies the proposal for the issuance of a normative instruction that alters accounting items of the Equity group in 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 that alters accounting items of the chart of accounts of the Accounting Standard for Institutions Regulated by the Central Bank of Brazil (Cosif), according to the competence of the Department of Financial System Regulation (Denor), using the authority conferred by art. 23, item I, letter "a", of the Internal Regulations of the Central Bank of Brazil (BCB), annexed to Resolution BCB No. 340, of September 21, 2023, 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. After concluding 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 I and II of Normative Instruction BCB No. 430, of December 1, 2023, which defines the accounting items of the Equity group in the chart of accounts of Cosif.

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 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. In view of these provisions, the normative instruction now proposed is exempt from the preparation of an RIA.

For your consideration.

UVERLAN RODRIGUES PRIMO

Deputy Chief

Agreed.

GILNEU FRANCISCO ASTOLFI VIVAN

Department Head