RegAlert

Rule · BCB · 29 Oct 1987 · Circular 1244

Circular No. 1244 — Compulsory Reserve and Mandatory Encashment on Time Deposits of Commercial Banks, Investment Banks, Development Banks and Savings Banks — Reduction of Requirements — Proposal to Reduce the Rate from 20% to Zero — Revocation of Circular Letter 1703

monetary

The Central Bank of Brazil reduces the compulsory reserve requirement on time deposits held by commercial banks, investment banks, development banks, and savings banks to zero percent. This measure becomes effective on November 3, 1987, and simultaneously revokes Circular Letter No. 1,703 of August 24, 1987.

BrazilBanco Central do Brasil

CIRCULAR NO. 001244

To
Commercial Banks, Investment Banks, Development Banks and Savings Banks

We inform you that the Board of Directors of the Central Bank, having regard to the provisions of item I of Resolution No. 1,378 of August 24, 1987, has decided to reduce to zero the requirement for compulsory reserve collection on time deposits.

  1. This Circular shall enter into force on November 3, 1987, when Circular Letter No. 1,703 of August 24, 1987 shall be revoked.

Brasília-DF, October 29, 1987

Wadico Waldir Bucchi Alkimar Ribeiro Moura Director Director

Luiz Aranha Corrêa do Lago
Director

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Annotations and obligations
3 definitions
  • Definition / condition 3
  • background, boilerplate

Lineage: Superseded

Resolution No. 1378 dated 1987-…Resolution No. 1378 dated 1987-08-24Circular Letter No. 1703 — Lowe…1987Circular Letter No. 1703 — Lowering Supplementary Norms Resolving CMN 1378/87 and Circular BCB 1220/87, Disclosing Remuneration and Cost Rates for Compulsory Collections and Mandatory Reserves Deposited in BCB Bank Reserve Accounts (1987-08-24)Circular No. 1244 — CompulsoryReserve and Mandatory Encashm…1987-10-29 · this documentCircular No. 1244 — Compulsory Reserve and Mandatory Encashment on Time Deposits of Commercial Banks, Investment Banks, Development Banks and Savings Banks — Reduction of Requirements — Proposal to Reduce the Rate from 20% to Zero — Revocation of Circular Letter 1703 (1987-10-29)Resolution CMN No. 1857 — Autho…1991Resolution CMN No. 1857 — Authorizes the Central Bank of Brazil to establish and regulate mandatory reserve requirements on funds collected by savings banks (1991-08-15)
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Timeline

Amended 1 time · last 1991-08-15

This document supersedes: Circular Letter No. 1703 — Lowering Supplementary Norms Resolving CMN 1378/87 and Circular BCB 1220/87, Disclosing Remuneration and Cost Rates for Compulsory Collections and Mandatory Reserves Deposited in BCB Bank Reserve Accounts

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