Rule · BCB · 29 Sep 1992 · Carta Circular 2321

Circular Letter No. 2321 — Clarification Regarding the Risk Diversification Limit Under Item III of Resolution No. 1,559 of December 22, 1988, and Article 1 of Resolution No. 1,948 of July 29, 1992

Investments by financial institutions and other entities authorized by the Central Bank of Brazil into mutual investment fund quotas are exempt from the risk diversification limits established in Item III of Resolution No. 1,559 of December 22, 1988, and Article 1 of Resolution No. 1,948 of July 29, 1992.

BrazilBanco Central do Brasil

CIRCULAR LETTER NO. 002321

CLARIFIES REGARDING THE RISK DIVERSIFICATION LIMIT TREATED IN ITEM III OF RESOLUTION NO. 1,559, OF 12.22.88, AND ART. 1 OF RESOLUTION NO. 1,948, OF 07.29.92.

HAVING IN VIEW DOUBTS RAISED BY FINANCIAL MARKET INSTITUTIONS, WE CLARIFY THAT THE INVESTMENTS OF FINANCIAL INSTITUTIONS AND OTHER INSTITUTIONS AUTHORIZED TO OPERATE BY THE CENTRAL BANK IN QUOTAS OF MUTUAL INVESTMENT FUNDS ARE NOT SUBJECT TO THE RISK DIVERSIFICATION LIMIT TREATED IN ITEM III OF RESOLUTION NO. 1,559, OF 12.22.88, AND ART. 1 OF RESOLUTION NO. 1,948, OF 07.29.92.

BRASILIA (DF), SEPTEMBER 29, 1992

DEPARTMENT OF NORMS OF THE FINANCIAL SYSTEM

SERGIO DARCY DA SILVA ALVES
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