Circular Letter No. 2.914

CIRCULAR LETTER No. 002914 ------------------------ Clarifies on the disclosure of the parameters calculated by the Central Bank of Brazil, as provided in Circular No. 2.972, of 2000, and in Resolution No. 2.692, of 2000. Having regard to the provisions of Circular No. 2.972, of 23 March 2000, and of Circular Letter No. 2.908, of 4 April 2000, we communicate that the standard volatility parameters for day t (SIGt), multiplier for day t (Mt), base parameter for the calculation of ROi,j (RO) and correlation decay factor (k), calculated by the Central Bank of Brazil, for use in the determination of the daily value of the portion of Required Shareholders' Equity (PLE) to cover the risk arising from the exposure of operations denominated in real and remunerated based on prefixed interest rates to the variation of the rates practiced in the market, will be disclosed, daily, through transaction PEFI300, options 11 and 12, of the Central Bank Information System - SISBACEN. Brasilia, 29 May 2000. DEPARTMENT OF REGISTRATION AND INFORMATION DEPARTMENT OF STUDIES AND OF THE FINANCIAL SYSTEM RESEARCH Joao Goulart Junior Alexandre Antonio Tombini Deputy Head Head DEPARTMENT OF INFORMATION TECHNOLOGY Reinaldo Dona Sol Deputy Head