On May 27, BRZ CB issued rules on criteria to prepare and send data.
BRZ CB issued res 4.911 on general criteria for preparing and sending accounting documents to the bank by financial institutions and other institutions authorized by it.
Follows BRZ CB May 2021 issued resolution 92 on accounting standards, see #89303.
Overview
Rules do not apply to consortium administrators and payment institutions that must comply with the regulations issued by BRZ CB in exercise of their legal duties.
Entities under extrajudicial insolvency must follow rules re accounting data when not in conflict with those issued by National Monetary Council specific to these institutions.
Entities subject to penalties provided for in current regulation re non-compliance with deadlines, submission of accounting documents or submission of incorrect information.
They must keep records of prepared, submitted data for 5 years at BRZ CB disposal.
Effectiveness
Resolution enters into force on Jan. 1, 2022; circular 2.964 of 2000 is repealed.
On May 31, 2021, BRZ CB published resolution 4,911 in the official gazette.
Sep. 28, 2021 Reporting Procedures
On Sep. 28, 2021, BRZ CB issued resolution 146 on general criteria for preparing and filing accounting documents to BRZ CB by consortium administrators, payment firms.
Also, the preparation and filing procedures for financial institutions, other institutions.
Revoked several circulars; resolution 146 enters into force on January 1, 2022.
Sep. 30, 2021 Official Publication
On Sep. 30, 2021, BRZ GVT published central bank resolution 146 in official gazette.
Re accounting document filings with central bank, that comes into effect Jan. 1, 2022.
Oct. 2022 BRZ CB Instructions
On Oct. 19, 2022, BRZ CB issued instruction 311; established procedures for sending semiannual prudential conglomerate report as per Res 4.911, Res 146.
Layout, filling instructions, other information necessary for preparation, remittance of the document indicated in the resolutions are available on the BRZ CB website.
BRZ CB instruction on reporting procedures enters into force on Nov. 1, 2022.
Nov. 2022 BRZ CB Amendments
On Nov. 1, 2022, BRZ CB issued Resolution 255 to amend Resolution 92 of May 6, 2021, on the accounting standard (Cosif) of institutions regulated by the BRZ CB.
Specifically of consortium administrators (CAs) and payment institutions (PIs).
Amends the structure of the list of accounts of the Cosif used by financial institutions.
Resolution 225 is effective on Jan. 1, 2025; revokes some provisions of Resolution 92.
Regulators
BRZ CB; BRZ GVT
Entity Types
Auditor; B/D; Bank; Corp; HF; IA; Inv Co
Reference
Res 225, Rpl, 11/1/10222; Ins 311, 10/19/2022; OG 186, 9/30/2021; Res 146, 9/28/2021; OG 101, 5/31/2021; Res 4.911, 5/27/2021; Rpl Cir 2.964
Functions
Accounting; Compliance; Financial; Legal; Record Retention; Reporting; Risk; Technology
