Regulatory Alerts2004-11-03 | Circular 2/2004Added
Circular 2/2004 — Segregation and Reconstitution of Securities
The document transmits the Rules for the Segregation and Reconstitution of Securities issued by the Ministry of Finance and Public Credit, which allow market participants to separate interest and principal from Federal Government Development Bonds with fixed interest rates and those denominated in Investment Units. These segregated coupons may be traded separately starting March 1, 2005, following system updates at Indeval and the central bank. Credit institutions, brokerage houses, investment companies, and specialized retirement fund investment societies are required to inform their clients of these new investment alternatives and the terms of the operations.
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