Circular Letter No. 2.872

CIRCULAR LETTER No. 002872 ------------------------ Clarifies regarding compliance with the minimum limits of paid-in capital and net equity of financial institutions and other institutions authorized to operate by the Central Bank of Brazil. Having regard to the provisions of art. 4 of Regulation Annex II to Resolution No. 2.099, of 17 August 1994, as amended by art. 1 of Resolution No. 2.607, of 27 May 1999, we clarify that the formula below must be used for the purpose of calculating and verifying compliance with the minimum limits of paid-in capital and net equity of financial institutions and other institutions authorized to operate by the Central Bank of Brazil in the period from 30 June 2000 to 29 June 2001: LI = LA + ( (LME - LA) / 2 ), where: LI = minimum limits to be observed in the said period; LA = amounts of paid-in capital and net equity in force until 27 May 1999; LME = minimum limits established under Resolution No. 2.607, of 1999. Brasilia, 29 September 1999. DEPARTMENT OF NORMS OF THE SYSTEM DEPARTMENT OF FINANCIAL ORGANIZATION OF THE FINANCIAL SYSTEM Carlos Eduardo Sampaio Lofrano Luiz Edson Feltrim Head Head