Resolution BCB No. 145 — Defines and Consolidates Rules for Compulsory Deposit on Time Resources

RESOLUTION BCB NO. 145, OF SEPTEMBER 24, 2021

Defines and consolidates the rules for the compulsory deposit on time resources.

The Collegiate Board of the Central Bank of Brazil, in a session held on September 23, 2021, based on art. 10, items III and IV, of Law No. 4.595, of December 31, 1964, and on art. 66 of Law No. 9.069, of June 29, 1995,

RESOLVES:

CHAPTER I
GENERAL RULES

Art. 1 This Resolution provides for the compulsory deposit on time resources.

Art. 2 The compulsory deposit on time resources applies to commercial banks, multiple banks, development banks, investment banks, foreign exchange banks, savings banks, and credit, financing, and investment companies.

Art. 3 Constitutes Value Subject to Deposit (VSR) the sum of the balances recorded in the following accounting items of the Accounting Standard of Regulated Institutions of the Central Bank of Brazil – Cosif: (Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

I - 4.1.5.10.00.00-3 TIME DEPOSITS;
(Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

II - 4.3.1.10.00.00-1 OBLIGATIONS FOR ACCEPTANCE OF FINANCIAL INSTRUMENTS; (Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

III - (Revoked, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

IV - 4.2.1.10.80.00-4 Own-Emission Instruments; and (Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

V - 4.9.9.12.20.00-5 Linked to Operations Conducted with the Outside.
(Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

Sole Paragraph. The total balance of item 4.1.5.10.55.00-5 Contracted with Guarantee Funds – LC No. 101 and LC No. 130 does not integrate the VSR. (Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

Art. 4 The calculation base for the compulsory deposit requirement on time resources corresponds to the arithmetic mean of the VSRs ascertained on business days of the calculation period, minus R$30,000,000.00 (thirty million reais).

Sole Paragraph. The calculation period comprises the business days of one week, starting on Monday and ending on Friday.

Art. 5 The compulsory deposit requirement is ascertained by applying, on the calculation base referred to in art. 4, a rate of 20% (twenty percent).

CHAPTER II
DEDUCTIONS AND EXEMPTIONS

Art. 6 The requirement, calculated in the manner of art. 5, shall be deducted by the average, during the calculation period, of the value of the Total Financial Limit for operations of the Term Liquidity Line (LT.LLT) referred to in art. 6 of the Regulation Annex IV to Resolution BCB No. 374, of March 27, 2024. (Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

§ 1 The deduction referred to in the caput is limited to the value of 3% (three percent) of the calculation base, in the manner of art. 4.

§ 2 The value of the LT.LLT, used in the average calculation, is the one informed in the daily opening of the Liquidity Financial Lines system – LFL. (Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

Art. 7 The requirement, calculated in the manner of art. 5, shall be deducted from the following portions:

I - R$3,600,000,000.00 (three billion and six hundred million reais), for independent financial institutions or those part of a prudential conglomerate whose Reference Equity Level I – RE is less than R$3,000,000,000.00 (three billion reais); (Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

II - R$2,400,000,000.00 (two billion and four hundred million reais), for independent financial institutions or those part of a prudential conglomerate whose Reference Equity Level I – RE is equal to or greater than R$3,000,000,000.00 (three billion reais) and less than R$10,000,000,000.00 (ten billion reais); (Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

III - R$1,200,000,000.00 (one billion and two hundred million reais), for independent financial institutions or those part of a prudential conglomerate whose Reference Equity Level I – RE is equal to or greater than R$10,000,000,000.00 (ten billion reais) and less than R$15,000,000,000.00 (fifteen billion reais); and (Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

IV - 0 (zero), for independent financial institutions or those part of a prudential conglomerate whose Reference Equity Level I – RE is equal to or greater than R$15,000,000,000.00 (fifteen billion reais).
(Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

§ 1 For the purposes of the deduction referred to in this article, for independent financial institutions or those part of a prudential conglomerate, the Reference Equity Level I – RE relative to June 30, 2018, ascertained in the manner established by CMN resolution that provides for the methodology for ascertaining RE, shall be considered. (Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

§ 2 In the absence of information on the Reference Equity Level I – RE relative to June 30, 2018, the information on the last Reference Equity Level I – RE prior to June 30, 2018 provided by the institution shall be considered as the criterion for the deduction referred to in this article.

§ 3 For financial institutions starting operations, the deduction value shall be calculated according to the first position reported to the Central Bank of Brazil on the Reference Equity Level I – RE or 0 (zero), while it is not reported.

Art. 8 (Revoked, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

Art. 9 (Revoked, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

CHAPTER III
DEPOSIT

Art. 10 The ascertained requirement is valid from the Monday of the second week following the closing of the calculation period, or the next business day if Monday is not a business day, until the following Friday, and must be fulfilled in kind, through deposit in a specific account.

§ 1 The daily closing balance of the respective deposit account must correspond to 100% (one hundred percent) of the requirement.

§ 2 Financial institutions whose requirements are equal to or less than R$500,000.00 (five hundred thousand reais) are exempt from the compulsory deposit provided for in this Resolution, however, they must provide the information as established in art. 12 of this Resolution.

§ 3 The deposit of the requirement must be made exclusively by an institution holding a Bank Reserves account or a Settlement Account, which will command the respective transfer to the credit of the deposit account.

§ 4 The deposit account may be freely operated by the holding institution, to the credit of its Bank Reserves account or Settlement Account, during the time established for the operation of the Reserve Transfer System (STR) of the Central Bank of Brazil.

§ 5 An institution that is not the holder of a Bank Reserves account nor a Settlement Account may operate its deposit account to the credit of a Bank Reserves account of its free choice with each transaction.

CHAPTER IV
FINANCIAL COST

Art. 11 A financial institution that fails to observe the rules regarding the maintenance of a balance in the compulsory deposit account on time resources incurs the payment of a financial cost, which is due on the business day following the date on which the deficiency is verified and calculated using the following formula:

(Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

I - Cvt = financial cost on the deficiency in the daily position verified on day “t”, expressed with two decimal places, with mathematical rounding; (Included, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

II - s = Selic Rate on the date of the deficiency (“t”), expressed in unitary form, with four decimal places; (Included, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

III - r = addition to the Selic Rate, corresponding to 4% (four percent) per year, expressed with four decimal places; and (Included, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

IV - dvt = deficiency in the daily position of the compulsory deposit on day “t”, where dvt = E -St, for all St < E, being:
(Included, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

a) St = position of day “t” or closing balance of the respective deposit account on business day “t”; and (Included, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

b) E = requirement ascertained in the manner of arts. 5 to 7 for the respective movement period.
(Included, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

§ 1 The partial results of multiplication, division, and exponentiation used in the algebraic expressions for the calculation of financial costs provided for in this Resolution must contain 8 (eight) decimal places, with mathematical rounding.

§ 2 The financial costs provided for in this Resolution, when paid on a date subsequent to the date they are due, shall be updated from the date they are due until the payment date, based on the Selic Rate.

§ 3 The return of cost provided for in this Resolution, due to an undue payment, shall be made with the update of the value, from the date of payment until the date of return, based on the Selic Rate.

§ 4 All movement related to the collection or return of the financial costs provided for in this Resolution shall be carried out through the Central Bank’s Posting System (SLB).

§ 5 A financial institution that presents a deficiency in the daily position of the compulsory deposit on time resources for three business days, consecutive or not, within a period of ten business days, shall immediately send, to the Department of Banking Operations and Payment Systems – Deban of the Central Bank of Brazil, justifications for the occurrence, regardless of the payment of the financial cost. (Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

CHAPTER V
SUBMISSION OF INFORMATION

Art. 12 The institution must provide, until the business day immediately preceding the date on which the respective requirement begins to be valid, the daily data related to the VSR of the calculation period.

§ 1 The financial institution is exempt from providing the information referred to in this article if the values subject to deposit and others related to the fulfillment of the requirement and deposit deductions remain unchanged relative to the last reported position.

§ 2 In the event of the absence of information regarding one or more days of the calculation period until the end of the deadline fixed in the caput, each unreported position shall be assigned the value relative to the last reported position.

§ 3 A financial institution that reports or alters the data after the deadline fixed in this article is subject to the penalties provided for in the current regulation.

Art. 13 A financial institution subject to the compulsory deposit provided for in this Resolution, not holding a Bank Reserves account or a Settlement Account, shall indicate the financial institution holding a Bank Reserves account to which the relevant charges for financial costs will be sent, eventual returns credited, and transfers of resources between the liquidator’s Bank Reserves account and the financial institution’s deposit account carried out.

Art. 13-A. The supporting documentation of the information object of this Resolution, unless otherwise provided, shall be kept available to the Central Bank of Brazil for a minimum period of five years, counted from the date to which each information refers. (Included, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

CHAPTER VI
REMUNERATION

Art. 14 The daily closing balance of the deposit account at the Central Bank of Brazil, limited to the value of the requirement, shall receive remuneration calculated based on the Selic Rate, using the following formula:

(Wording given, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

I - R = remuneration to be credited, expressed with two decimal places, with mathematical rounding; (Included, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

II - S = closing balance of the deposit account, limited to the value of the requirement calculated in the manner of arts. 5 to 7; and (Included, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

III - Selic = annual Selic Rate, in unitary format, expressed with four decimal places, referring to the date of the balance to be remunerated.
(Included, from 1/1/2025, by Resolution BCB No. 426, of 10/16/2024.)

§ 1 The remuneration referred to in the caput is credited to the respective deposit account until 16:30 on the following business day.

§ 2 The partial results of multiplication, division, and exponentiation used in the algebraic expression for the calculation of remuneration must contain 8 (eight) decimal places, with mathematical rounding.

CHAPTER VII
FINAL PROVISIONS

Art. 15 The provisions of this Resolution shall be observed from the calculation period starting on November 8 and ending on November 12, 2021, whose adjustment will occur on November 22, 2021.

Art. 16 The Deban is authorized to adopt the necessary measures for the execution of the provisions of this Resolution.

Art. 17 The following are revoked, after the production of their effects in the calculation period starting on November 1, 2021, and ending on November 5, 2021, whose adjustment will occur on November 16, 2021:

I - Circular No. 3.916, of November 22, 2018;

II - Circular No. 3.943, of May 23, 2019;

III - Circular No. 3.997, of April 6, 2020;

IV - Circular No. 4.001, of April 13, 2020; and

V - Resolution BCB No. 78, of March 10, 2021.

Art. 18 This Resolution enters into force on November 1, 2021.

Bruno Serra
Fernandes
Monetary Policy Director