Page 30 - Sicredi Ingles Flipbook

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Agenda BC+ and BC#
At the close of 2016, the Central Bank of Brazil released its “BC+” agenda. This was followed, in 2019, by the “BC#” agenda that, in general terms, proposed a restructuring of the National Financial System by providing greater access to banking services for the population, coupled with the generation of sustainable benefits for society. Credit unions deserve special attention from the Central Bank in the execution of its agenda. The body implemented a dynamic relationship with the sector, clearing the way for several opportunities. New regulations allowed for the provision of financial services to municipalities and other public bodies; fund raising through SESCOOP (National Cooperativism Learning Service) and municipal public entities; the issue of common Bills; in addition to transferring 10% of the FCO (Midwest Constitutional Financing Fund) to cooperatives. Simultaneously, the Central Bank has been demanding the adoption of high governance, compliance and auditing standards. The regulatory milestone of the country is developing favorably within our segment. And that is why we are constantly preparing ourselves for joint growth with our members, fostering financial inclusion and social and economic development.
period guarantee financial performance and results above the market average.
Consolidation of cooperativism in Brazil
One of the fundamental aspects of this expansion concerns the commitment of the Central Bank with regards to establishing financial regulations. To this end, there has been a striking evolution in sector- related regulations, largely leveraged by the actions of credit unions.
Sicredi plays a vital role within this context, collaborating in structuring a positive regulatory framework suited to credit unions, joining in the debate with sector players and regulatory authorities in several discussion forums. Recognized for their credibility, our leaders work among the leading national and international entities, such as the OCB (Brazilian Cooperatives Organization) and WOCUU (World Council of Credit Unions).
Among the measures to restructure the regulatory environment, an important milestone for credit unions was the creation of FGCoop (Guarantor Fund of Cooperativism), on April 1, 2014, governed by National Monetary Council