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Rule · BCB · 28 Aug 1995 · Carta Circular 2573

Circular Letter No. 2573 — Clarification on the Classification of Operations within the Housing Financial System - SFH

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Operations conducted under the Housing Financial System (SFH) using resources from the Brazilian Savings and Loan System (SBPE) for units produced for sale at cost or market price must be classified according to the operational limits set forth in Article 4 of the Regulation annexed to Resolution No. 1,980 of April 30, 1994, as amended by Resolution No. 2,130 of December 21, 1994. This classification is determined based on the situation existing at the time of contracting the project, regardless of subsequent changes in the financed outstanding balance. If construction projects undergo alterations during execution, they must be submitted for a new evaluation to verify compliance with these operational limits.

BrazilBanco Central do Brasil

CIRCULAR LETTER NO. 002573

Clarification on the Classification of Operations within the Housing Financial System - SFH.

Based on the provisions of Article 2 of Resolution No. 1,980 of April 30, 1993, we clarify that operations carried out within the scope of the Housing Financial System (SFH) using resources from the Brazilian Savings and Loan System (SBPE), with objects consisting of units produced for commercialization both at cost price and at market price, must, at the time of transfers to final borrowers, be classified within the operational limits referred to in Article 4 of the Regulation annexed to Resolution No. 1,980 of April 30, 1994, with the new wording given by Resolution No. 2,130 of December 21, 1994, taking into account the situation prevailing at the time of contracting the project, regardless of the evolution of the outstanding balance to be financed.

  1. In the event that the construction project undergoes alterations during its execution, it shall be submitted for a new evaluation, for the purpose of verifying its classification within the operational limits mentioned in the previous item.

Brasilia, August 28, 1995.

DEPARTMENT OF NORMS OF THE FINANCIAL SYSTEM

Sergio Darcy da Silva Alves
Chief

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Annotations and obligations
2 obligations
  • Obligation 2
  • background, boilerplate

Lineage: Superseded

Resolution CMN No. 1980 — Appro…1993Resolution CMN No. 1980 — Approves regulations governing the allocation of resources captured by entities of the Brazilian Savings and Loan System (SBPE) and financing operations within the Housing Financial System (SFH) (1993-04-30)Resolution CMN No. 2130 — Amend…1994Resolution CMN No. 2130 — Amends provisions of the Regulations annexed to Resolutions Nos. 1,922 and 1,980, extinguishing the Standard Financing Unit (UPF) (1994-12-21)Circular Letter No. 2573 —Clarification on the Classifi…1995-08-28 · this documentCircular Letter No. 2573 — Clarification on the Classification of Operations within the Housing Financial System - SFH (1995-08-28)Resolution No. 2458 — Directing…1997Resolution No. 2458 — Directing Savings Deposits Resources in the SBPE (1997-12-18)
amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Timeline

Amended 1 time · last 1997-12-18

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