On Jan. 4, BRZ CB issued instructions re accounting standards update.
BRZ CB issued Instruction 447 to create accounting items for the list of accounts of the accounting standard (Cosif) for firms regulated by BRZ CB; amended Ins 268/2022.
List of Accounts Highlights
Instruction 447 amended Instruction 268 re accounting items for realizable assets.
Chart of accounts of Cosif updated in 2023 to allow accounting disclosure and monitor of exposures from legal actions against BRZ, States, federal district and municipalities.
Ins 447 rectified numerical code of some accounting items and reorders some sections
Effectiveness
Normative Instruction 447 came into force as of the date of its publication.
This applies to accounting documents prepared from the base date of Jan. 2024.
Mar. 2024 BRZ CB Items Adjustments
On Mar. 26, 2024, BRZ CB issued Instruction 459 to create, change accounting items in list of accounts of Accounting Standard of Institutions Regulated by BRZ CB (Cosif).
Instruction 459 comes into force on May 1, 2024.
Jun. 2024 BRZ CB Chart of Accounts Adjustments
On Jun. 12, 2024, BRZ CB issued Resolution 390 to amend Resolution 92 of 2021.
Pertains to accounting standard for certain institutions regulated by the BRZ CB.
Specifically, consortium administrators, payment institutions, securities brokerage firms, securities distribution companies, and foreign exchange brokerage firms.
Adjusts to levels of aggregation for code of accounting items in Cosif list of accounts.
Also provides maximum number of said aggregation levels is limited to ten levels.
The leading institution of the conglomerate must, in the consolidated documents, use the accounting items intended for use by the other entities forming part of the group.
This in order to record the events and transactions carried out by the aforementioned entities, except for the eliminations and reclassifications provided for in regulations.
Denor may indicate accounting items that can't be used by certain institution types.
Resolution in force on Jul. 1, 2024, Jan. 1, 2025, Jan. 1, 2030 depending on provision.
Jun. 2024 BRZ CB Chart of Accounts Adjustments
On Jun. 28, 2024, BRZ CB issued Instruction 481 to amend Instructions 268, 270, 275, all of Apr. 1, 2022, as well as Instruction 315, of Oct. 27, 2022.
Instruction 481 amended the accounting headings in the list of accounts of the Accounting Standard for institutions regulated by the Central Bank of Brazil (Cosif).
Instruction 481 shall come into force on Jul. 1, 2024.
Jul. 2024 BRZ CB Chart of Accounts Adjustments
On Jul. 2, 2024, BRZ CB issued Instruction 484 to amend Instruction 116 of 2021.
Instruction added to list of titles and subtitles of the accounting plan of the National Financial System (Cosif) used as the basis for calculating Reference Funding (CR).
Related to obligations for the transactions that are linked to assignment.
Instruction 484 shall come into force on the date of its publication.
Dec. 17, 2024 BRZ CB Accounting Standards
On Dec. 17, 2024, BRZ CB issued Instructions 566 and 567 re accounting headings.
Disclosed accounting headings of the Accounting Standard for institutions regulated.
Used as the basis for calculating the ordinary, special and additional contributions.
Associated with Credit Guarantee Fund (FGC), Credit Union Guarantee Fund (FGCoop).
Instruction 566 revoked Instructions 116, of Jun. 23, 2021, and 484, of Jul. 2, 2024.
Additionally, Instruction 567 revoked Instruction 145, of Aug. 23, 2021.
Instructions 566 and Instruction 567 shall come into force on Jan. 1, 2025.
Regulators
BRZ CB
Entity Types
B/D; Bank; IA; Inv Co
Reference
Ins 567, Ins 566, Rpl Ins 116, 484, 12/17/2024; Ins 484, 7/2/2024, Ins 481, 6/28/2024; Res 390, Rpl, 6/12/2024;Ins 459, 3/26/2024; Ins 447, 1/4/2024
