Executive Branch establishes procedures to operate with CODIP, consolidates procedures to send information to the CB
18 febrero 2021


On February 12, the Public Debt Undersecretariat published an ordinance laying out procedures to select accredited institutions to operate with the General Coordination of Public Debt Operations (CODIP, for its acronym in Portuguese). The measure also regulates the participation of the National Treasury Secretariat in special operations. Access the text of the ordinance by clicking here.

The requirements for the accreditation of financial institutions to operate with the CODIP, include holding reference assets of at least R$ 26,250000 (approximately USD 4.8 million). They must also be able to show a high standard of ethical conduct in the course of their financial operations; and there should not be any recommendations made either by the Central Bank of Brazil or the National Treasury against their accreditation.

In other news, the Central Bank (BC) published a resolution modifying and consolidating the procedures for sending information on the determination of regulatory and standard limits.

The resolution establishes that operations performed by institutions must be sent to the CB on a monthly basis, as of the last day of each month. This also includes reports regarding the minimum Reference Capital information required to cover the risk of changes in interest rates of instruments classified in the banking portfolio, the total exposure in gold and foreign currency in transactions subject to exchange rate variation, and credit operations with public sector bodies and entities.

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