Resolution BCB No. 59 — General Criteria for Measuring and Recognizing Social and Labor Obligations by Regulated Institutions

Resolution No. 59

RESOLUTION BCB NO. 59, OF DECEMBER 23, 2020

Dispenses with the general criteria for measuring and recognizing social and labor obligations by consortium administrators and payment institutions.

Dispenses with the general criteria for measuring and recognizing social and labor obligations by consortium administrators, payment institutions, securities brokerage firms, securities distribution firms, and foreign exchange brokerage firms authorized to operate by the Central Bank of Brazil. (Amended, effective March 1, 2024, by Resolution BCB No. 367, of January 25, 2024.)

Dispenses with the general criteria for measuring and recognizing social and labor obligations by institutions required to use the Accounting Standard of Institutions Regulated by the Central Bank of Brazil – Cosif, by virtue of Resolution BCB No. 92, of May 6, 2021. (Amended by Resolution BCB No. 553, of March 3, 2026.)

The Collegiate Board of the Central Bank of Brazil, in a session held on December 23, 2020, based on arts. 6 and 7, item III, of Law No. 11,795, of October 8, 2008, 9, items II and IX, letter "b", and 15 of Law No. 12,865, of October 9, 2013,

R E S O L V E:

Art. 1. This Resolution consolidates the general criteria for measuring and recognizing social and labor obligations by consortium administrators and payment institutions.

Art. 1. This Resolution dispenses with the general criteria for measuring and recognizing social and labor obligations by the following institutions authorized to operate by the Central Bank of Brazil: (Amended, effective March 1, 2024, by Resolution BCB No. 367, of January 25, 2024.)

Art. 1. This Resolution dispenses with the general criteria for measuring and recognizing social and labor obligations by institutions required to use the Accounting Standard of Institutions Regulated by the Central Bank of Brazil – Cosif, in accordance with art. 1, caput, item I, of Resolution BCB No. 92, of May 6, 2021. (Amended by Resolution BCB No. 553, of March 3, 2026.)

I - consortium administrators; (Included, effective March 1, 2024, by Resolution BCB No. 367, of January 25, 2024.)

I - (Revoked by Resolution BCB No. 553, of March 3, 2026.)

II - payment institutions; (Included, effective March 1, 2024, by Resolution BCB No. 367, of January 25, 2024.)

II - (Revoked by Resolution BCB No. 553, of March 3, 2026.)

III - securities brokerage firms; (Included, effective March 1, 2024, by Resolution BCB No. 367, of January 25, 2024.)

III - (Revoked by Resolution BCB No. 553, of March 3, 2026.)

IV - securities distribution firms; and (Included, effective March 1, 2024, by Resolution BCB No. 367, of January 25, 2024.)

IV - (Revoked by Resolution BCB No. 553, of March 3, 2026.)

V - foreign exchange brokerage firms. (Included, effective March 1, 2024, by Resolution BCB No. 367, of January 25, 2024.)

V - (Revoked by Resolution BCB No. 553, of March 3, 2026.)

Art. 2. Consortium administrators and payment institutions must recognize, monthly, upon the preparation of balance sheets or statements, as a liability, the amounts due for the current period and prior periods regarding:

Art. 2. The institutions mentioned in art. 1 must recognize, monthly, upon the preparation of balance sheets or statements, as a liability, the amounts due for the current period and prior periods regarding: (Amended, effective March 1, 2024, by Resolution BCB No. 367, of January 25, 2024.)

I - installments of the period's result attributed or to be attributed to employees and administrators or to assistance funds, based on legal, statutory, or contractual provisions, or proposed by management for approval by the general assembly or meeting of unitholders or partners; and

II - other obligations assumed with employees.

Sole paragraph. In the monthly recognition of obligations related to vacation, thirteenth salary, premium leave, and other known or calculable charges, consortium administrators and payment institutions must include amounts resulting from future salary increases provided for by law, contract, or collective labor agreement and in their internal policy.

Sole paragraph. In the monthly recognition of obligations related to vacation, thirteenth salary, premium leave, and other known or calculable charges, the institutions mentioned in art. 1 must include amounts resulting from future salary increases provided for by law, contract, or collective labor agreement and in their internal policy. (Amended, effective March 1, 2024, by Resolution BCB No. 367, of January 25, 2024.)

Art. 3. Consortium administrators and payment institutions must observe Technical Pronouncement CPC 33 (R1) – Employee Benefits, approved by the Accounting Pronouncements Committee (CPC) on December 7, 2012, in the measurement, recognition, and disclosure of employee benefits.

Art. 3. The institutions mentioned in art. 1 must observe Technical Pronouncement CPC 33 (R1) – Employee Benefits, approved by the Accounting Pronouncements Committee (CPC) on December 7, 2012, in the measurement, recognition, and disclosure of employee benefits. (Amended, effective March 1, 2024, by Resolution BCB No. 367, of January 25, 2024.)

§ 1. The technical pronouncements cited in the text of Pronouncement CPC 33 (R1) cannot be applied until they are also received by specific act of the Central Bank of Brazil.

§ 2. References to other CPC pronouncements in the text of Pronouncement CPC 33 (R1) must be interpreted, for the purposes of this Resolution, as reference to other pronouncements of the Committee that have been received by specific act of the Central Bank of Brazil, as well as to the provisions of the Accounting Plan of the Institutions of the National Financial System (Cosif) that establish accounting criteria related to the pronouncements subject to the references.

§ 3. The determination of the discount rate referred to in items 83 to 86 of Pronouncement CPC 33 (R1) is permitted based on the average market yield calculated over the six months prior to the date to which the financial statements refer, observing the other provisions provided in this Pronouncement.

§ 4. Consortium administrators and payment institutions that use the option provided in § 3 must:

§ 4. The institutions mentioned in art. 1 that use the option provided in § 3 must: (Amended, effective March 1, 2024, by Resolution BCB No. 367, of January 25, 2024.)

I - apply the change prospectively;

II - disclose, in an explanatory note, the value of the effect on Equity if the rate referred to in item 83 of Pronouncement CPC 33 (R1) were used; and

III - apply the discount rate referred to in § 3 consistently over time.

Art. 4. If the Central Bank of Brazil identifies non-compliance with the provision of item III of § 4 of art. 3, it may determine a change in the discount rate referred to in § 3 of art. 3.

Art. 5. The provisions of art. 3 apply to consortium administrators only from January 1, 2022, prospectively.

Art. 6. This Resolution enters into force on January 1, 2021.

Bruno Serra Fernandes
Deputy Director of Regulation