To remove requirement BRZ CB must receive from financial institutions the firm's limits and standards re credit operations with related parties, e.g., with leasing companies.
Also, funding through time deposits/bills re development banks, CMN Res. 5,047/2022.
Specifies types of firms exempt from requirements as provided under Res. 69, Art. 7.
These include S5 BRZ CB category banks/financial institutions per Res. 4,553/2017.
In addition, exemptions made for payment institutions and consortium administrators.
However Instruction 413 applies to cooperatives of two or three levels, including coop banks, credit confederations, and service confederations of central credit cooperatives.
Effectiveness
Normative Instruction 413 comes into force on the date of its official publication.
Oct. 9, 2024 BRZ CB Reporting Limits Update
On Oct. 9, 2024, BRZ CB published Resolution 421 to amend Resolution 69, of 2021.
Resolution 69 amends and consolidates the procedures for submitting information related to the calculation of the regulatory limits and standards specified therein.
Information corresponding to the regulatory limits and standards must be forwarded.
Including information on obtaining loans or financing from financial institutions; fundraising through term deposits and financial bills, concerning development banks.
Credit operations of a credit cooperative sharing resources and risks with other credit cooperatives part of the same system, and Development Credit Letter (LCD) issuance.
Resolution 421 shall come into force on Nov. 1, 2024.
