RESOLUTION BCB No. 448, OF 23 DECEMBER 2024

Amends Resolutions BCB Nos. 198, 199 and 201 of 11 March 2022.

The Collegiate Board of the Central Bank of Brazil, in a session held on 23 December 2024, based on arts. 9, caput, clause II, and 15 of Law No. 12,865, of 9 October 2013, and art. 9‑A of Law No. 4,728, of 14 July 1965, and considering the provisions of Resolution No. 4,282, of 4 November 2013, and CMN Resolution No. 5,105, of 28 September 2023,

R E S O L V E :

Art. 1 Resolution BCB No. 198, of 11 March 2022, published in the Official Gazette of the Union on 14 March 2022, shall now operate with the following amendments:

“Art. 3 …………………………………………………………………………………………………

I – …………………………………………………………………………………………………

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e) to credit result accounts;

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g) to the absolute value of the negative adjustment recorded in equity, arising from the application, on 1 January 2025, of the expected‑loss provision criteria set out in Resolution BCB No. 352, of 23 November 2023, including the floors established therein, observed the applicable percentages as provided in § 4;

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§ 3
The negative adjustment calculated on 1 January 2025, mentioned in clause I, sub‑item “g”, of the caput must be net of tax effects and must consider the totality of financial instruments subject to the constitution of provisions for credit‑risk losses, in accordance with Resolution BCB No. 352, of 23 November 2023.

§ 4 The amount referred to in clause I, sub‑item “g”, of the caput must be multiplied by:

I – 75 % (seventy‑five percent), until 31 December 2025;

II – 50 % (fifty percent), from 1 January 2026 to 31 December 2026;

III – 25 % (twenty‑five percent), from 1 January 2027 to 31 December 2027; and

IV – 0 % (zero percent), starting 1 January 2028.” (NR)

Art. 2 Resolution BCB No. 199, of 11 March 2022, published in the Official Gazette of the Union on 14 March 2022, shall now operate with the following amendments:

“Art. 3 …………………………………………………………………………………………………

I – …………………………………………………………………………………………………

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g) to the balance of the positive adjustment to the market value of derivative financial instruments used for cash‑flow hedge;

i) to the absolute value of the negative adjustment recorded in equity, arising from the application, on 1 January 2025, of the expected‑loss provision criteria set out in Resolution BCB No. 352, of 23 November 2023, including the floors established therein, observed the applicable percentages as provided in § 9;

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§ 8
The negative adjustment calculated on 1 January 2025, mentioned in clause I, sub‑item “i”, of the caput must be net of tax effects and must consider the totality of financial instruments subject to the constitution of provisions for credit‑risk losses, in accordance with Resolution BCB No. 352, of 23 November 2023.

§ 9 The amount referred to in clause I, sub‑item “i”, of the caput must be multiplied by:

I – 75 % (seventy‑five percent), until 31 December 2025;

II – 50 % (fifty percent), from 1 January 2026 to 31 December 2026;

III – 25 % (twenty‑five percent), from 1 January 2027 to 31 December 2027; and

IV – 0 % (zero percent), starting 1 January 2028.” (NR)

Art. 3 Resolution BCB No. 201, of 11 March 2022, published in the Official Gazette of the Union on 14 March 2022, shall now operate with the following amendments:

“Art. 7 …………………………………………………………………………………………………

I – …………………………………………………………………………………………………

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e) to credit result accounts;

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g) to the absolute value of the negative adjustment recorded in equity, arising from the application, on 1 January 2025, of the expected‑loss provision criteria set out in Resolution BCB No. 352, of 23 November 2023, including the floors established therein, observed the applicable percentages as provided in § 4; and

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§ 3
The negative adjustment calculated on 1 January 2025, mentioned in clause I, sub‑item “g”, of the caput must be net of tax effects and must consider the totality of financial instruments subject to the constitution of provisions for credit‑risk losses, in accordance with Resolution BCB No. 352, of 23 November 2023.

§ 4 The amount referred to in clause I, sub‑item “g”, of the caput must be multiplied by:

I – 75 % (seventy‑five percent), until 31 December 2025;

II – 50 % (fifty percent), from 1 January 2026 to 31 December 2026;

III – 25 % (twenty‑five percent), from 1 January 2027 to 31 December 2027; and

IV – 0 % (zero percent), starting 1 January 2028.” (NR)

Art. 4 This Resolution shall enter into force on 1 January 2025.

Otávio Ribeiro Damaso
Director of Regulation