Circular Letter No. 2915 — Discloses complementary instructions regarding the submission of information on corporate participations and dependencies abroad by financial institutions and other institutions authorized by the Central Bank of Brazil

CIRCULAR LETTER NO. 002915

Discloses complementary instructions regarding the submission of information on corporate participations and dependencies abroad, by financial institutions and other institutions authorized to operate by the Central Bank of Brazil.

In view of the provisions of Resolution No. 2,723, of June 1, 2000, and Circular No. 2,981, of April 28, 2000, we communicate that financial institutions and other institutions authorized to operate by the Central Bank of Brazil must submit to the Department of Registration and Information of the Financial System (DECAD), by June 30, 2000, in the format of the attached document model, via CONNECT:DIRECT or Internet, using the PSTAW10 application (Information Exchange), as per Circular Letter No. 2,847, of April 13, 1999, a file containing information on corporate participations, direct and indirect, in financial or non-financial companies, located in the Country and abroad, as referred to in Article 10 of the aforementioned Circular.

2. The information contained in the fields Base Date, Asset Value, Net Equity Value and Realized Social Capital Value of Record Type 1 and in the field Net Balance of Transactions with the Participant of Record Type 5, both in the attached document model, must be updated quarterly, by the 20th day of the month following the base date to which they refer, by sending a complete file in the manner of the previous item.

3. Modifications to the information referred to in Article 11 of Circular No. 2,981, of April 28, 2000, or any registration changes contained in Records of Type 1 to Type 4, must be reported to the Central Bank of Brazil, within a period of up to thirty days after the date of the respective change, also by sending a complete file in the manner of item 1.

4. The list of offices referred to in Article 1, Paragraph 2, of Resolution No. 2,723/2000, containing the name and full address of each, must be sent to DECAD, via the PMSG750 transaction of the Central Bank Information System - SISBACEN, by June 9, 2000.

5. Non-observance of the deadlines established for the submission and update of the required information subjects the institution to the monetary penalty provided for in Resolution No. 2,194, of August 31, 1995.

6. Doubts regarding the use of the CONNECT:DIRECT software can be resolved by phone 0xx-61-4142156.

7. This Circular Letter enters into force on the date of its publication.

8. Circular Letter No. 2,910, of May 4, 2000, is revoked.

Brasilia, June 07, 2000

DEPARTMENT OF REGISTRATION AND DEPARTMENT OF INFORMATION TECHNOLOGY INFORMATION OF THE FINANCIAL SYSTEM

Lucio Ricardo Rodrigues Oliveira Reinaldo Dona Sol Substitute Head Substitute Head

ANNEX

FILLING INSTRUCTIONS

The present layout is composed of 07 (seven) types of records, namely:

a) Header Record;

b) Type 1 Records - Company;

c) Type 2 Records - Company Board of Directors;

d) Type 3 Records - Final Controller of the Company;

e) Type 4 Records - Company Auditor;

f) Type 5 Records - Participation;

g) Trailer Record.

Notes:
a) as the country abbreviation, the N5 code of the Central Bank's Country Table must be used, available on the Internet at the address http://www.bcb.gov.br/htms/download.shtm ; b) for foreign natural or legal persons, the code obtained in the PEMP500 transaction - Company Registration - CADEMP - Update, of the SISBACEN, must be informed, proceeding, if necessary, to inclusion in this Registration.

1 - The Header record is composed of information for data reception control.

2 - "Type 1 Record - Company": fill in with registration information of all companies/institutions, with one record for each participating or participated institution/company. a) in the "Activity Branch" field, the activity branch code assigned by IBGE (CNAE - National Economic Activity Code) must be informed. The CNAE FISCAL code should be used whenever possible; b) the Asset Value field must be used to inform the result of the sum of the values of Current Assets, Long-Term Realizable Assets and Permanent Assets of the company;

3 - "Type 2 Record - Company Board of Directors": fill in one record for each director of each company identified in the type 1 record, whose participation has been subject to consolidation.

4 - "Type 3 Record - Final Controller of the Company": fill in one record for each final controller of each company identified in the type 1 record, whose participation has been subject to consolidation:
a) it must be filled in with the data of the natural person(s) who exercise(s) shareholding control at the end of the participation chain; if not possible, fill in with the data of the legal persons (foundations, cooperatives, funds, others that cannot be identified individually) that exercise said control; b) address data must be filled in with the fiscal domicile of the controller; c) the "Control Form" field must be filled in with code 1 (majority control), when the majority of shares with voting rights are in the hands of a single person, and with code 2 (shared control), when no person individually holds more than 50% of the shares with voting rights.

5 - "Type 4 Record - Company Auditor": fill in with the data of the independent auditor of each company identified in the type 1 record, whose participation has been subject to consolidation.

6 - "Type 5 Record - Participation" fill in with data referring to the participations defined in Articles 10 and 11 of Circular No. 2,981/2000:
a) a participating company is considered that which holds investment in shares of the participated company; b) the type of participation (direct, indirect or no participation) is directly related to the reporting institution (financial institution), observed that the form and characteristic refer to the relationship between participant and participated; c) the "Control Characteristic" field must be filled in based on the content of Article 3 of Resolution No. 2,723/2000; d) the information regarding Parallel Control, of the Participation Form field, refers to that exercised by the controller of the reporting/participating financial institution, directly or indirectly, with financial institutions or similar abroad, without there being any corporate participation, direct or indirect, by the reporting/participating financial institution. e) value corresponding to the NET BALANCE OF TRANSACTIONS WITH THE PARTICIPANT, must be obtained by using the following formula:

SLTP = Dp - (PLp X PPP/100) + Op), where:

SLTP = Net Balance of Transactions with the Participant;

Dp     = value of the Rights of the Participated company with the Participant, registered in the assets of the latter;

PLp    = value of the Net Equity of the Participated company;

PPP    = Percentage of Participation of the Participant in the Net Equity of the Participated company;

Op     = value of the Obligations of the Participated company in relation to the Participant, registered in the liabilities of the latter.

EXAMPLE 1: FOR A NET EQUITY OF THE PARTICIPATED COMPANY (PLP), in the value of R$ 500.00, constituted as a wholly-owned subsidiary (PPP = 100%), and having it an application in a CDB issued by the Participant (Dp), in the value of R$ 300.00, the Participant will have a negative net balance (SLTP) of R$ 200.00, according to the formula ((300.00 - (500.00 x 100/100) +
0) = -200.00);

EXAMPLE 2: for a Net Equity of the Participated Company (PLp), in the value of R$ 500.00, of which the participant holds a percentage of 80% (eighty percent) (PPP = 80%), and having it an application in a CDB issued by the Participant (Dp), in the value of R$ 300.00, the Participant will have a negative net balance (SLTP) of R$ 100.00, according to the formula ((300.00 - (500.00 x 80/100) + 0) = -100.00);

EXAMPLE 3: for a Net Equity of the Participated Company (PLp), in the value of R$ 500.00, constituted as a wholly-owned subsidiary (PPP = 100%), and having it an application in a CDB issued by the Participant (Dp), in the value of R$ 600.00, the Participant will have a positive net balance (SLTP) of R$ 100.00, according to the formula ((600.00 - (500.00 x 100/100) -
0) = 100.00).

Layout of the File for Capturing Participations of Financial Institutions - Resolution No. 2,723/2000

Record - Header
------------ ----------------- ---- -------- --------------------- Field Description Type Position Observation ------------ ----------------- ---- -------- --------------------- Record Type 1 recor A03 1-1 'y' (Hexadecimal value, Identification der '23' in ASCII, and of Record 2-2 7B in EBCDIC)

                                    3-3   'A' (letter A) Always with value 1 ------------ -----------------  ---- -------- --------------------- Document     Code N04     4-7   Always with code Code                                     '5011' ------------ -----------------  ---- -------- --------------------- Institution  Institution's CNPJ N14    8-21 CNPJ         reporting -----------  -----------------  ---- -------- --------------------- Identification Identification of A08    22-29  Will contain the word system                           'SISBACEN' ------------ ----------------   ---- -------- --------------------- Movement     File generation N08    30-37  Date in the format Date         date                       AAAAMMDD -----------  ----------------   ---- -------- --------------------- Flag         File transmission A01    38-38  'T' (letter T), in type                         case of file transmitted via CONECT: DIRECT 'D' (Letter D), in case of file transmitted via In- ternet ------------ ----------------   ---- -------- --------------------- Filler                          A340  39-378  Will contain spaces -----------  -----------------  ---- -------- --------------------- Sequential   Sequential number N07   379-385 Will contain 0000001 in of record                      the identification record ------------ -----------------  ---- -------- ---------------------

Type 1 Record - Company

----------- ----------------- ---- ------- --------------------- Field Description Type Position --------------------- ----------- ----------------- ---- ------- --------------------- Record Type 1 record em A01 1-1 Always with value 1 Type pany ----------- ----------------- ---- ------- --------------------- Identification Identification of A01 2-2 Type of code of of Company type of code identification of the of company company:
1 - National Company 2 - Foreign Company. Company code N14 3-16 Identification of the participating or participated company. In the case of a national company use CNPJ and in case of a company in abroad, registration code in CADEMP ----------- ----------------- ---- ------- --------------------- Corporate Corporate name of A60 17-76 Name company ----------- ----------------- ---- ------- --------------------- Trade Name Trade name of A30 77-106 company ----------- ----------------- ---- ------- --------------------- Address Address of the em- A50 107-156 pany ----------- ----------------- ---- ------- --------------------- Neighborhood Neighborhood of the A20 157-176 company ----------- ----------------- ---- ------- --------------------- City Municipality of the em- A40 177-216 pany ----------- ----------------- ---- ------- --------------------- State State where the em- A02 217-218 pany is located ----------- ----------------- ---- ------- --------------------- Country Country where the em- N05 219-223 pany is located ----------- ----------------- ---- ------- --------------------- ZIP Code Company ZIP Code A08 224-231 ----------- ----------------- ---- ------- --------------------- E-mail Corporate e-mail A50 232-281 Corporate e-mail ----------- ----------------- ---- ------- --------------------- Activity Activity branch N07 282-288 Code of the activity Branch of the company branch (CNAE) ----------- ----------------- ---- ------- --------------------- Classification Classification of A01 289-289 Y(es) for financial company company or similar or N(o) for non-financial company ----------- ----------------- ---- ------- --------------------- Base Date Base date of the da- N8 290-297 Date in the format ta contábeis AAAAMMDD (Assets, Equity and Capital) ----------- ---------------- ---- ------- --------------------- Asset Asset value of N15,2 298-314 Value the company ----------- ----------------- ---- ------- --------------------- Net Net equity value N15,2 315-331 Equity of the company Value ----------- ------- --------------------- Social Realized social N15,2 332-348 Capital capital Realized ---------- ----------------- ---- ------- --------------------- Total Total quantity N15 349-363 Shares/ of shares/shares Shares with with voting Voting rights ----------- ----------------- ---- ------- --------------------- Total Total quantity N15 364-378 Shares of shares without without voting rights Voting ----------- ----------------- ---- ------- --------------------- Sequential Sequential number N07 379-385 Will contain the sequential of record number of the record in the file
----------- ---------------- ---- ------- --------------------- Type 2 Record - Company Board of Directors ----------- ----------------- ---- ------- ---------------------- Field Description Type Position ---------------------- ----------- ----------------- ---- ------- ---------------------- Record Type 2 record di- A01 1-1 Always with value 2 Type rectoria ----------- ----------------- ---- ------- ---------------------- Identification Identification of A01 2-2 Type of code of of Company type of code identification of the of company company:
1 - National Company 2 - Foreign Company. Company code N14 3-16 Identification of the participating or participated company. In the case of a national company use CNPJ and in case of a company abroad, registration code in CADEMP ----------- ----------------- ---- ------- ---------------------- Identification Identification of A01 17-17 Type of code of of Director type of code identification of the of person natural person:
3 - Brazilian natural person 4 - Foreign natural person. Director code N11 18-28 In the case of Brazilian natural person use CPF and in the case of foreigner, registration code in CADEMP ----------- ----------------- ---- ------- ---------------------- Name Director's name A60 29-88 ----------- ----------------- ---- ------- ---------------------- Nationality Director's national N05 89-93 Country abbreviation of ity nationality ----------- ----------------- ---- ------- ---------------------- Position Position A40 94-133 Position name ----------- ----------------- ---- ------- ---------------------- Date of Date of assumption N08 134-141 Date in the format Assumption into the board AAAAMMDD ----------- ----------------- ---- ------- ---------------------- Term of Term provided for A15 142-156 Ex. AUG/2005, Mandate for the end of TERM/2002, indefinite, the mandate etc. ----------- ---------------- ---- ------- ---------------------- Filler A222 157-378 Will contain spaces ----------- ----------------- ---- ------- ---------------------- Sequential Sequential number N07 379-385 Will contain the sequential of record number of the record in the file ----------- ----------------- ---- ------- ----------------------

---

Record Type 3 - Company's Ultimate Controller* ------------ ----------------- ---- ------- ---------------------- Field Description Type Position Observation ------------ ----------------- ---- ------- ---------------------- Registration Type Record type A01 1-1 Always with value 3 controller ------------ ----------------- ---- ------- ---------------------- Company Company Identification A01 2-2 Type of code Identification of the type of code identification of the company:
1 - National Company 2 - Foreign Company. Company Code N14 3-16 Identification of the participating or participated company. In the case of a national company use CNPJ and in the case of a company abroad, registration code in CADEMP ------------ ----------------- ---- ------- ---------------------- Controller Controller Identification A01 17-17 Type of code Identification of the type of code identification of the controller:
1 - National Company 2 - Foreign Company 3 - Resident natural person in Brazil 4 - Non-resident natural person in Brazil Controller Code N14 18-31 In the case of Brazilian natural person use CPF, Brazilian legal entity, CNPJ and in the case of foreign natural person or legal entity, registration code in CADEMP ------------ ----------------- ---- ------- ---------------------- Name Controller Name A60 32-91 ------------ ----------------- ---- ------- ---------------------- Address Controller Address A50 92-141 ------------ ----------------- ---- ------- ---------------------- Neighborhood Controller Neighborhood A20 142-161 ------------ ----------------- ---- ------- ---------------------- City Controller Municipality A40 162-201 ------------ ----------------- ---- ------- ---------------------- State State A02 202-203 ------------ ----------------- ---- ------- ---------------------- Country Country N05 204-208 Country code ------------ ----------------- ---- ------- ---------------------- Postal Code Postal Code A08 209-216 ------------ ----------------- ---- ------- ---------------------- Nationality Nationality N05 217-221 Country code of nationality of the controller (if natural person) or blank if it is a company ------------ ----------------- ---- ------- ---------------------- Control Control Form A01 222-222 Values for control form:
1 - Majority control 2 - Shared control ------------ ----------------- ---- ------- ---------------------- E-mail E-mail A50 223-272 E-mail ------------ ----------------- ---- ------- ---------------------- Filler A106 273-378 ------------ ----------------- ---- ------- ---------------------- Sequential Record Sequential N07 379-385 Will contain the sequential number of the record in the file ------------ ----------------- ---- ------- ----------------------

• The ultimate controllers must be natural persons, except in the case
  of control being exercised by foundations, cooperatives, funds.

Record Type 4 - Company Auditor
------------ ----------------- ---- ------- ---------------------- Field Description Type Position Observation ------------ ----------------- ---- ------- ---------------------- Registration Type Record type au- A01 1-1 Always with value 4 ditor ------------ ----------------- ---- ------- ---------------------- Company Company Identification A01 2-2 Type of code Identification of the type of code identification of the company:
1 - National Company 2 - Foreign Company. Company Code N14 3-16 Identification of the participating or participated company. In the case of a national company use CNPJ and in the case of a company abroad, registration code in CADEMP ------------ ----------------- ---- ------- ---------------------- Auditor Auditor Identification A01 17-17 Type of code Identification of the type of code identification of the auditor:
1 - National Company 2 - Foreign Company 3 - Brazilian natural person 4 - Foreign natural person Independent Auditor N14 18-31 In the case of Brazilian natural person use CPF, Brazilian legal entity, CNPJ and in the case of foreign natural person or legal entity, registration code in CADEMP ------------ ----------------- ---- ------- ---------------------- Auditor Name Auditor Name A60 32-91 ------------ ----------------- ---- ------- ---------------------- Address Auditor Address A50 92-141 ------------ ----------------- ---- ------- ---------------------- Neighborhood Auditor Neighborhood A20 142-161 ------------ ----------------- ---- ------- ---------------------- City Auditor Municipality A40 162-201 ------------ ----------------- ---- ------- ---------------------- State State A02 202-203 ------------ ----------------- ---- ------- ---------------------- Country Country N05 204-208 Country code ------------ ----------------- ---- ------- ---------------------- Postal Code Postal Code A08 209-216 ------------ ----------------- ---- ------- ---------------------- E-mail Auditor E-mail A50 217-266 Corporate e-mail ------------ ----------------- ---- ------- ---------------------- Filler A112 267-378 Will contain spaces ------------ ----------------- ---- ------- ---------------------- Sequential Record Sequential N07 379-385 Will contain the sequential number of the record in the file ------------ ----------------- ---- ------- ----------------------

Record Type 5 - Participation
------------ ----------------- ---- ------- ---------------------- Field Description Type Position Observation ------------ ----------------- ---- ------- ---------------------- Registration Type Record type A01 1-1 Always with value 5 participation ------------ ----------------- ---- ------- ---------------------- Participating Participating Company A01 2-2 Type of code Company Identification of the type of code identification of the company:
1 - National Company 2 - Foreign Company. Participating Company N14 3-16 Identification of the participating or participated company. In the case of a national company use CNPJ and in the case of a company abroad, registration code in CADEMP ------------ ----------------- ---- ------- ---------------------- Participated Participated Company A01 17-17 Type of code Company Identification of the type of code identification of the company:
1 - National Company 2 - Foreign Company Participated Company N14 18-31 Identification of the participating or participated company. In the case of a national company use CNPJ and in the case of a company abroad, registration code in CADEMP ------------ ----------------- ---- ------- ---------------------- Participation Type of participation N01 32-32 Possible values:
Type of the financial 1 - Direct institution reporting 2 - Indirect 3 - Does not Participate ------------ ----------------- ---- ------- ---------------------- Participation Form of participation N01 33-33 Possible values:
Form of the particip- 1 - Does not Control ant X particip- 2 - Controls ated 3 - Shared Control 4 - Parallel Control ------------ ----------------- ---- ------- ---------------------- Control Control Characteristics A01 34-34 Preponderance in the Characteristics of the particip- social releases - fill with Y(es) or N(o) A01 35-35 Power to elect/dismiss administrators - fill with Y(es) or N(o) A01 36-36 Operational control - fill with Y(es) or N(o) A01 37-37 Corporate control - fill with Y(es) or N(o) ------------ ----------------- ---- ------- ---------------------- BACEN BACEN authorization N08 38-45 Fill if financial Authorization date of BACEN institution or similar /participation ------------ ----------------- ---- ------- ---------------------- Participation Start date of N08 46-53 Date in the format Start participation YYYYMMDD Date of the 1st acquisition, by the participant, of voting capital or total of the participated ------------ ----------------- ---- ------- ---------------------- Participation End date of N08 54-61 Date in the format End participation YYYYMMDD Date on which the participant ended its participation ------------ ----------------- ---- ------- ---------------------- Participation Reference date of N08 62-69 Date in the format Reference participation YYYYMMDD Date on which the participant started to hold the percentage of participation (voting or total) reported ------------ ----------------- ---- ------- ---------------------- Quantity Quantity of N15 70-84 of shares/quota with Shares/Quotas voting rights with Voting ----------- ----------------- ---- ------- ---------------------- Quantity Quantity of N15 85-99 of shares without Shares without voting rights Voting ------------ ----------------- ---- ------- ---------------------- Consolidation Consolidation Type N01 100-100 May assume the values:
Type 1 - Does not Consolidate 2 - Proportional Consolidation 3 - Total Consolidation ------------ ----------------- ---- ------- ---------------------- Balance Balance value N15, 101-117 Value of the net balance 2 of transactions with the participant ------------ ----------------- ---- ------- ---------------------- Filler A261 118-378 Will contain spaces ------------ ----------------- ---- ------- ---------------------- Sequential Record Sequential N07 379-385 Will contain the sequential number of the record in the file ------------ ----------------- ---- ------- ---------------------- Record - Trailer ------------ ----------------- ---- ------- ---------------------- Field Description Type Position Observation ------------ ----------------- ---- ------- ---------------------- Record Trailer Record A02 1-1 (value '40' in ASCII, Identification 2-2 and 7C in EBCDIC) Always with value 1 ----------- ----------------- ---- ------- ---------------------- Document Code N04 3-6 Always code '5011' ----------- ----------------- ---- ------- ---------------------- Reporting Reporting Institution N14 7-20 Institution CNPJ ----------- ----------------- ---- ------- ---------------------- Identification System Identification A08 21-28 Will contain the word 'SISBACEN' ------------ ----------------- ---- ------- ---------------------- Records Total of records N07 29-35 Written in written in the File file including control records ------------ ----------------- ---- ------- ---------------------- Filler Filler A343 36-378 Fill with blanks ------------ ----------------- ---- ------- ---------------------- Sequential Record Sequential N07 379-385 Will contain the sequential number of the record in the file ----------- ----------------- ---- ------- ----------------------