Circular Letter No. 3248 — Clarifies the provisions of Article 1 of Resolution 3,401 of 2006 regarding the early settlement of leasing operations

Financial institutions must observe the minimum timeframes established in current regulations when settling leasing contracts early, ensuring the transaction is not classified as a purchase and sale with installment payments. This requirement applies to leasing operations covered by Article 1 of Resolution 3,401 of 2006 and is based on Article 11 of Law 6,099 of 1974 and Article 10 of the Regulation annexed to Resolution 2,309 of 1996.

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CIRCULAR LETTER NO. 003248

Clarifies the provisions of Article 1 of Resolution 3,401 of 2006 regarding the early settlement of leasing operations.

In light of doubts raised by financial market institutions, we clarify that, in view of the provisions of Article 11, paragraph 1, of Law 6,099 of September 12, 1974, and Article 10 of the Regulation annexed to Resolution 2,309 of August 28, 1996, in the process of early settlement of leasing contracts referred to in Article 1 of Resolution 3,401 of September 6, 2006, it is necessary to observe the minimum timeframes established in the current regulation so that the operation is not considered as a purchase and sale with installment payments.

Brasília, November 3, 2006.

Department of Standards of the Financial System

Amaro Luiz de Oliveira Gomes
Head

Lineage: In force

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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