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FUNDS FROM SECURITIES ISSUED
12 Months Ended
Dec. 31, 2022
Funds From Securities Issued  
FUNDS FROM SECURITIES ISSUED

 

19)FUNDS FROM SECURITIES ISSUED

 

a)Composition by type of security issued and location

 

     
  R$ thousands
On December 31, 2022 On December 31, 2021
Instruments Issued – Brazil:    
Real estate credit notes 51,258,545 41,461,933
Agribusiness notes 31,176,213 17,300,060
Financial bills 93,772,038 79,752,267
Real Estate Secured Bill (LIG) 30,290,640 13,936,949
Subtotal 206,497,436 152,451,209
Securities – Overseas:    
Euronotes 3,934,384 1,849,851
Securities issued through securitization – (item (b)) 8,456,444 9,135,795
Subtotal 12,390,828 10,985,646
Structured Operations Certificates 3,369,064 2,791,687
Total 222,257,328 166,228,542

 

 

b)Securities issued through securitization

 

Since 2003, Bradesco uses certain arrangements to optimize its activities of funding and liquidity management by means of a Specific Purpose Entity (SPE). This SPE, which is named International Diversified Payment Rights Company, is financed with long-term bonds which are settled with the future cash flow of the corresponding assets, basically comprising current and future flow of payment orders sent by individuals and legal entities abroad to beneficiaries in Brazil for whom Bradesco acts as payer.

 

The long-term instruments issued by the SPE and sold to investors will be settled with funds from the payment orders flows. The Company is required to redeem the instruments in specific cases of default or upon closing of the operations of the SPE.

 

The funds deriving from the sale of current and future payment orders flows, received by the SPE, must be maintained in a specific bank account until they reach a given minimum level.

 

c)Changes in securities issued

 

     
  R$ thousands
2022 2021
Opening balances on January 1 166,228,542 144,903,825
Issuance 101,692,599 105,221,591
Interest accrued 21,101,371 7,543,275
Settlement and interest payments (64,795,895) (92,274,643)
Exchange variation and others (1,969,289) 834,494
Closing balance on December 31 222,257,328 166,228,542