Normative Instruction BCB No. 83 — Clarifies the Calculation of the Effective Total Cost (CET) under CMN Resolution No. 4,881 of December 23, 2020

INSTRUÇÃO NORMATIVA BCB Nº 83, DE 3 DE MARÇO DE 2021

Clarifies the calculation of the Effective Total Cost (CET) under CMN Resolution No. 4,881 of December 23, 2020.

The Head of the Financial System Regulation Department (Denor), using the authority granted 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 art. 10 of CMN Resolution No. 4,881 of December 23, 2020,

R E S O L V E S:

Art. 1º For the purposes of art. 6 of Resolution No. 4,881 of December 23, 2020, the calculation of the Effective Total Cost (CET) related to advance operations to depositors must consider as the agreed credit limit the value of the credit granted on the date of the operation.

Art. 2º For the purposes of § 1 of art. 7 of Resolution No. 4,881 of 2020, the real value of each component of the receipt and payment flow and the respective percentages relative to the total amount due, as well as the value of the sum of the installments, may be presented in the CET statement of the operation in the form of the example below.

Discrimination of values	R$	%
Requested value:	1,000.00
Financed value:	1,080.00
Interest rate:		1% p.m. / 12.68% p.a.
Number of installments:	24
Installment value:	50.84	-
Total value of installments:	1,220.16	-
a) total amount due for the loan, financing, or financial lease at the time of contracting:	1,080.00	-
b) value released to the client or seller:	1,000.00	92.6% (b/a)
c) expenses linked to the granting of credit:	80.00	7.4% (c/a)
c1) fees (specify), if any:	30.00	2.8% (c1/a)
c2) taxes (specify), if any:	10.00	0.9% (c2/a)
c3) insurance (specify), if any:	-	- (c3/a)
c4) others (specify), if any:	40.00	3.7% (c4/a)

Art. 3º The following are revoked:

I - Circular Letter No. 3,301 of March 3, 2008;

II - Circular Letter No. 3,504 of April 29, 2011; and

III - Circular Letter No. 3,593 of April 19, 2013.

Art. 4º This Normative Instruction enters into force on April 1, 2021.

João André Calvino Marques Pereira