Central Bank updates rules for the consortium sector

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The Central Bank approved new rules on the operation of groups of consortia in the country, valid from January 2024, informed the municipality this Thursday (19), arguing that the measure will provide more efficiency and transparency to the sector.

Among the points of the resolution, the maximum period of default from which the consortium participant will be excluded was established in up to three consecutive maturities – today there is no defined period.

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The minimum information that must be included in the contracts for participation in a consortium group was reviewed, such as procedures and deadlines for carrying out operational procedures. There will also be a requirement to present the amount of the initial installment and its components.

As of entry into force, consortium regulations should be available on the administrators’ websites, eliminating the requirement for registration at a notary’s office. Meetings may be in person or virtual.

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Source: CNN Brasil

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