RegAlert2006-02-09 | Carta Circular 3225Added
Circular Letter No. 3225 — Clarifies the designation of a director responsible for carrying out bond lending and swap operations established by Resolution 3,197 of 2004
The document clarifies that the requirement to designate a responsible director under Article 3 of Resolution 3,197 of May 27, 2004, applies exclusively when financial institutions and other entities authorized by the Central Bank of Brazil actually conduct bond lending or swap operations. This clarification addresses market doubts regarding the scope of this obligation.
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CIRCULAR LETTER NO. 003225
Clarifies the designation of a director responsible for carrying out bond lending and swap operations established by Resolution 3,197 of 2004.
In view of doubts raised by the market, we clarify that the designation of a responsible director established by Article 3 of Resolution 3,197 of May 27, 2004, which provides for the carrying out of swap and lending operations of bonds by financial institutions and other institutions authorized to operate by the Central Bank of Brazil, is mandatory only in the event of carrying out such operations.
Brasília, February 9, 2006.
Department of Standards of the Financial System
Amaro Luiz de Oliveira Gomes
Head
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Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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