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CASH AND CASH EQUIVALENTS | 12 Months Ended
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Dec. 31, 2022
Cash and cash equivalents [abstract] |
CASH AND CASH EQUIVALENTS |
6. | CASH AND CASH EQUIVALENTS
Schedule of cash and cash equivalents |  |
| 2022 | 2021
Bank accounts | 95 | 117
Cash equivalents |  |
Bank certificates of deposit (CDBs) (1) | 1,049 | 625
Overnight (2) | 294 | 81
Others | 3 | 2
Short term investments | 1,346 | 708
Cash and cash equivalents | 1,441 | 825
(1) | Bank Certificates of Deposit (Certificados de Depósito Bancário, or CBDs), accrued interest at 80.05% to 112%, of the CDI Rate (Interbank Rate for Interbank Certificates of Deposit or Certificados de Depósito Inter-bancário - CDIs) published by the Custody and Settlement Chamber (Câmara de Custódia e Liquidação, or Cetip) on December 31, 2022 (70% to 109% on December 31, 2021). For these CDBs, the Company and its subsidiaries have repo transactions which state, on their trading notes, the bank’s commitment to repurchase the security, on demand, on the maturity date of the transaction, or earlier.
(2) | Overnight transactions are repos available for redemption on the following day. They are usually backed by Treasury Bills, Notes or Bonds and referenced to a pre-fixed rate of 13.62% to 13.64% on December 31, 2022 (8.87% to 9.14% on December 31, 2021). Their purpose is to settle the short-term obligations of the Company and its subsidiaries, or to be used in the acquisition of other assets with better return to replenish the portfolio.
Note 31 provides information in relation to the exposure of the Company to interest rate risks, and a sensitivity analysis of their effects on financial assets and liabilities. Accounting policy Cash and cash equivalents consist of balances in bank current accounts and short-term highly liquid investments subject to an insignificant risk of change in value, held to meet the short-term cash management of the Company and its subsidiaries. More information about the accounting practices is shown in Note 31.

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- Definition The disclosure of cash and cash equivalents. [Refer: Cash and cash equivalents] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_10_e&doctype=Standard -URIDate 2022-03-24 + Details
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