2021-11-25 | Resolução CMN 4966

Added 2026-09-27 · Updated 2026-09-28

Resolution CMN No. 4,966 — Accounting Concepts and Criteria for Financial Instruments and Hedge Accounting

Resolution CMN No. 4,966 establishes the accounting concepts and criteria that financial institutions and other entities authorized by the Central Bank of Brazil must apply to the classification, measurement, recognition, derecognition, and disclosure of financial instruments, as well as for hedge accounting. The regulation defines key terms such as financial assets, derivatives, and credit-impaired assets, and mandates specific classification categories including amortized cost, fair value through other comprehensive income, and fair value through profit or loss based on business models and contractual cash flow characteristics. It also sets out the conditions under which financial assets are considered impaired and outlines the procedures for reclassification when business models change.

Brazil

Banco Central do Brasil

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RESOLUTION CMN NO. 4,966, OF NOVEMBER 25, 2021

Establishes the accounting concepts and criteria applicable to financial instruments, as well as for the designation and recognition of hedging relationships (hedge accounting) by financial institutions and other institutions authorized to operate by the Central Bank of Brazil.

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes it public that the National Monetary Council, in a session held on November 25, 2021, based on Article 4, items VIII and XII, of the aforementioned Law, and taking into account the provisions of Article 61 of Law No. 11,941, of May 27, 2009,

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amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Show all related documents (41)

Supersedes

CMN Resolution No. 2682 — Criteria for Classifying Credit Operations and Rules for Establishing Provisions for Doubtful Collection Credits1999Resolution No. 2697 dated 2000-02-24not in RegAlertResolution No. 3181 dated 2004-03-29not in RegAlertResolution No. 3533 dated 2008-01-31not in RegAlertResolution No. 4846 dated 2020-08-24not in RegAlertResolution No. 5133 dated 2024-05-13not in RegAlert

+2 more

Resolution No. 5134 dated 2024-05-13not in RegAlertResolution No. 5137 dated 2024-05-23not in RegAlert

Amended by

CMN Resolution No. 5,100 — Amending CMN Resolution No. 4,966 on Accounting Concepts and Criteria for Financial Instruments and Hedge Accounting2023CMN Resolution No. 5,019 — Amending CMN Resolution No. 4,966 of November 25, 2021, Regarding Accounting Concepts and Criteria for Financial Instruments and Hedge Accounting2022

Amends

CMN Resolution No. 4,858 — Establishes the Accounting Standard for Institutions Regulated by the Central Bank of Brazil (Cosif)2020Resolution No. 5146 dated 2024-06-26not in RegAlertResolution No. 5244 dated 2025-08-28not in RegAlert

Issued under

Law No. 4595 dated 1964-12-31not in RegAlert

Basis for

Instruction Normative BCB No. 598 — Amends Instruction Normative BCB No. 584 of January 28, 20252025Normative Instruction BCB No. 576 — Amends the Filling Instructions and Layout of Document Code 2061 – Operational Limits Statement (DLO)2024Normative Instruction BCB No. 438 — Amends Normative Instruction BCB No. 236 Regarding Financial Statement Submission Procedures2023Normative Instruction BCB No. 414 — Amends the Layout and Filling Instructions for Document 3040 - Credit Risk Data of the Credit Information System (SCR)2023

Refers to

CMN Resolution No. 4818 — Consolidates General Criteria for Preparation and Disclosure of Individual and Consolidated Financial Statements by Financial Institutions2020CMN Resolution No. 4803 - Criteria for Measuring Provision for Doubtful Loan Losses on Renegotiated Operations Due to the Covid-19 Pandemic2020CMN Resolution No. 4512 — Accounting Procedures for Passive Provisions for Financial Guarantees2016

Referred to by

Instruction Normative BCB No. 763 — Amends Instruction Normative BCB No. 584 of January 28, 20252026Normative Instruction BCB No. 733 of May 4, 20262026Normative Instruction BCB No. 659 — Amends the Layout and Filling Instructions for Document Code 3040 - Credit Risk Data of the Credit Information System (SCR)2025BCB Resolution No. 485 — Updates Accounting Line Item Nomenclature for Financial Cost Calculation Due to Deficiency in Fulfilling Rural Credit Obligations (MCR 6-5) and Sets Calculation Period for Credit Cooperatives (MCR 6-2)2025Normative Instruction BCB No. 607 of April 3, 2025: Extends the Deadline for Submission of the February 2025 Data-Base for Operational Limits Statement (DLO)2025Normative Instruction BCB No. 577 — Amends Normative Instructions BCB Nos. 428 and 433 to Create Accounting Lines in the Cosif Chart of Accounts2024

+14 more

CMN Resolution No. 5,199 of December 23, 20242024Instruction Normative BCB No. 570 — Sets the deadline for submitting the base dates for January, February, and March 2025 of document code 4111 – Daily Accounting Balances2024BCB Normative Instruction No. 563 — Deadline for Submission of January and February 2025 Data for Market Risk, Operational Limits, Liquidity Risk, and Credit Data Documents2024Normative Instruction BCB No. 560 of December 6, 2024: Clarifies Criteria for Applying CMN Resolution No. 4,966 and BCB Resolution No. 3522024BCB Instruction No. 545 of November 7, 2024 - Amends the Instructions for Calculating and Filling Out the Market Risk Statement (DRM) Information2024Instruction BCB No. 544 — Amends the Filling Instructions for Document Code 2300 - External Resource Borrowing2024Normative Instruction BCB No. 531 — Amends the Layout and Filling Instructions for Document 3040 – Credit Risk Data of the Credit Information System (SCR)2024Normative Instruction BCB No. 524 of September 18, 2024: Establishes Procedures for Daily Submission of Accounting Balances and Payment Transaction Volumes to the Central Bank of Brazil2024Instruction Normative BCB No. 522 — Consolidates Procedures for Remitting Banking Statistics by Commercial Banks, Multiple Banks with Commercial Portfolios, and Caixa Econômica Federal2024Instruction Normative BCB No. 505 — Amends Instruction Normative BCB No. 142 of August 16, 2021, Regarding Procedures for Submitting Financial Statements by Institutions in Extrajudicial Liquidation2024Central Bank of Brazil Instruction Normative No. 474 of May 23, 20242024Normative Instruction BCB No. 473 of May 23, 20242024Normative Instruction BCB No. 469 of May 3, 20242024Normative Instruction BCB No. 429 — Defines the accounting items of the Required Liabilities group of the Chart of Accounts of the Accounting Standard of Institutions Regulated by the Central Bank of Brazil (Cosif)2023

Timeline

Amended 2 times · last 2023-08-24

• 2023-08-24BCBCMN Resolution No. 5,100 — Amending CMN Resolution No. 4,966 on Accounting Concepts and Criteria for Financial Instruments and Hedge Accountingamends
• 2022-06-23BCBCMN Resolution No. 5,019 — Amending CMN Resolution No. 4,966 of November 25, 2021, Regarding Accounting Concepts and Criteria for Financial Instruments and Hedge Accountingamends

This document amends: CMN Resolution No. 4,858 — Establishes the Accounting Standard for Institutions Regulated by the Central Bank of Brazil (Cosif)

This document supersedes: CMN Resolution No. 2682 — Criteria for Classifying Credit Operations and Rules for Establishing Provisions for Doubtful Collection Credits

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works