Circular Letter No. 1,735, dated October 29, 1987

CIRCULAR LETTER NO. 1,735

We communicate that the classification of commercial banks referred to in MNI 16-1-4 shall henceforth be as follows:

a) FEDERAL PUBLIC — formed by banks whose majority of social capital belongs to the Union, directly or indirectly;

b) STATE PUBLIC — formed by banks created by specific law whose majority of social capital belongs to the State where they are headquartered;

c) NATIONAL PRIVATE — banks whose majority of social capital or control belongs to Brazilian natural or legal persons, directly or indirectly;

d) NATIONAL PRIVATE WITH FOREIGN CONTROL — banks under foreign control with or without majority of voting capital;

e) NATIONAL PRIVATE WITH FOREIGN PARTICIPATION — banks with relevant foreign participation—in the case of more than 10% of voting capital—including those of binational character;

f) FOREIGN — BRANCH IN THE COUNTRY — formed by branches of banks constituted and headquartered abroad.

Consequently, the necessary sheets for updating the aforementioned Manual are attached.

Brasília (DF), October 29, 1987.

DEPARTMENT OF BANKING ORGANIZATION AND AUTHORIZATIONS Martin Wimmer CHIEF

This text does not replace the published version in the DOU and Sisbacen.