On Nov. 28, BRZ CB classified individual institutions, conglomerates.
BRZ CB issued Resolution 436 to classify individual institutions authorized to operate and prudential conglomerates led by these institutions as type 1, type 2 or type 3.
Follows BRZ CB Nov. 2024 Type 2 complete deduction exceptions, see #175207.
Highlights
Established the classification of institutions and conglomerates classified as type 3.
The institutions must be classified in one of the types for the prudential regulation.
Type 1 includes sole institutions authorized to operate by CB, with some exceptions.
Payment institutions; securities brokerage firms; securities distribution companies; foreign exchange brokerage companies; prudential conglomerates led by institutions.
Type 2 are sole payment institutions; prudential conglomerates led by payment entity.
Consisting exclusively of payment institutions not / authorized to operate by CB.
Also, entities conducting acquisition of credit operations, real estate or credit rights.
Other legal entities holding equity interest in specified entities or investment funds.
Type 3 includes securities brokerage firms, securities distribution firms and foreign exchange brokerage firms; prudential conglomerates led by specified institutions.
Finally, prudential conglomerates led by 1 of the payment institutions not mentioned.
BRZ CB shall disclose, at least every 6 months, data re the institutions' classification.
Revocation
Revoked Resolution 197, of Mar. 11, 2022.
Effectiveness
Resolution 436 shall come into force on Jan. 1, 2025.
