On May 14, 2025, BRZ CVM issued Instruction 621 to set procedures for filing monthly data about interest and charges accumulated on revolving credit card transactions.
Re credit cards, postpaid payment instruments, as referred to in Res. 468, #253067.
The information must be sent using document code 3060, Interest accrued on credit cards, in accordance with instructions contained in the Annex to this Instruction.
Layout, filling instructions must be sent monthly, on 10th business day after reference.
Only transactions with individual customers financed through a revolving credit card or invoice installment plan after Jan. 3, 2024, per Resolution 4.549, must be considered.
Percentages corresponding to 25th, 50th, 75th, 100th percentiles must be reported.
Instruction 621 will come into force on Jul. 1, 2025.
On May 7, BRZ CB established procedures re credit card transactions.
BRZ CB published Instruction 618 to establish procedures for filing monthly data with the BRZ CB re interest and charges accumulated on revolving credit card transactions.
Highlights
Data must be sent on Form, Document Code 3060, Interest accrued on credit cards.
The layout, filling instructions for preparing the document are in on BRZ CB website.
Monthly submission, on the tenth business day after the last day of reference month.
Information includes percentages representing relationship between interest amounts and financial charges accumulated on credit card bills, other post-paid payment tools.
Only transactions with individual customers that have been financed through a revolving credit card or invoice installment plan after Jan. 3, 2024 (inclusive).
Percentages corresponding to 25th, 50th, 75th, 100th percentiles must be reported.
Institutions that do not present balances throughout the month re revolving credit card and invoice installment transactions are exempt from sending Document 3060.
Institutions must indicate a representative capable of responding to any questions.
Effectiveness
Instruction 618 shall come into force on Jul. 1, 2025.
May 14, 2025 BRZ CVM Monthly Update
On May 14, 2025, BRZ CVM issued Instruction 621 to set procedures for filing monthly data about interest and charges accumulated on revolving credit card transactions.
Re credit cards, postpaid payment instruments, as referred to in Res. 468, #253067.
The information must be sent using document code 3060, Interest accrued on credit cards, in accordance with instructions contained in the Annex to this Instruction.
Layout, filling instructions must be sent monthly, on 10th business day after reference.
Only transactions with individual customers financed through a revolving credit card or invoice installment plan after Jan. 3, 2024, per Resolution 4.549, must be considered.
Percentages corresponding to 25th, 50th, 75th, 100th percentiles must be reported.
Instruction 621 will come into force on Jul. 1, 2025.
Regulators
BRZ CB
Entity Types
B/D; Bank; IA; Inv Co
Reference
OG, 5/14/2025; Ins 621, 5/13/2025; Ins 618, Form 360, 5/7/2025
Functions
Financial; Operations; Reporting; Risk; Treasury
Countries
Brazil
Category
State
N/A
Products
Banking; Cards; Deposits; Forex; Fund Mgt; Payments
