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FUNDS FROM SECURITIES ISSUED
 12 Months Ended
Dec. 31, 2024
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, 2024 On December 31, 2023
Instruments Issued – Brazil:    
Real estate credit notes 55,865,741 52,115,729
Agribusiness notes 46,738,613 40,062,692
Financial bills 106,220,794 105,426,827
Letters property guaranteed 35,805,829 36,144,798
Subtotal 244,630,977 233,750,046
Securities – Overseas:    
Euronotes 4,513,282 3,442,593
Securities issued through securitization – (item (b)) 5,016,063 3,925,938
Subtotal 9,529,345 7,368,531
Structured Operations Certificates 3,817,022 3,847,681
Total 257,977,344 244,966,258

 

 

 

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
2024 2023
Opening balances on January 1 244,966,258 222,257,328
Issuance 54,734,757 105,259,934
Interest accrued 27,427,073 25,707,778
Settlement and interest payments (70,199,968) (108,774,110)
Exchange variation and others 1,049,224 515,328
Closing balance on December 31 257,977,344 244,966,258