Circular No. 1832 — Federal Deregulation Program/Decree No. 99,179 of March 15, 1990: Waives Prior Central Bank Accreditation for Acting as Fiduciary Agent for Debenture Holders, Fiduciary Agent for Mortgage-Backed Loans, and for Repaying Official Resources

CIRCULAR NO. 001832

FEDERAL DEREGULATION PROGRAM/DECREE NO. 99,179, OF 15.03.90 - WAIVES PRIOR ACCREDITATION BY THE CENTRAL BANK TO ACT AS FIDUCIARY AGENT FOR DEBENTURE HOLDERS, TO ACT AS FIDUCIARY AGENT FOR LOANS WITH MORTGAGE COLLATERAL, AS PROVIDED IN ARTICLE 30 OF DECREE-LAW NO. 70, OF 21.11.66, AND TO REPAY OFFICIAL RESOURCES.

WE COMMUNICATE THAT THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, IN A MEETING HELD ON 31.10.90, HAVING REGARD TO THE PROVISIONS OF ARTICLE 10, ITEM VI, OF LAW NO. 4,595, OF 31.12.64, ARTICLE 30 OF DECREE-LAW NO. 70, OF 21.11.66, ARTICLE 66, PARAGRAPH 1, OF LAW NO. 6,404, OF 15.12.76, AND ARTICLE 1 OF RESOLUTION NO. 1,764, OF 31.10.90, HAS DECIDED THAT:

ART. 1. FINANCIAL INSTITUTIONS AND OTHER ENTITIES AUTHORIZED TO OPERATE BY THE CENTRAL BANK OF BRAZIL, WHICH HAVE IN THEIR CORPORATE OBJECTIVES THE ADMINISTRATION OR CUSTODY OF THIRD-PARTY ASSETS AND MEET THE OTHER CONDITIONS ESTABLISHED BY THE SECURITIES COMMISSION, MAY EXERCISE THE FUNCTIONS OF FIDUCIARY AGENT FOR DEBENTURE HOLDERS.

PARAGRAPH 1. THE INSTITUTIONS REFERRED TO IN THIS ARTICLE MUST FORWARD TO THE CENTRAL BANK'S DOCUMENT RECEPTION CENTER, LOCATED AT THE HEAD OFFICE OR AT THE REGIONAL BRANCH UNDER WHOSE JURISDICTION THEY FALL, WITHIN 15 (FIFTEEN) DAYS AFTER THE DATE OF THE ISSUANCE DEED, A DOCUMENT INFORMING THE NAME OF THE ISSUING COMPANY, THE VOLUME OF THE ISSUANCE, AND THE MAIN CHARACTERISTICS OF THE ISSUED SECURITIES.

PARAGRAPH 2. IN FILLING OUT THE DOCUMENT REFERRED TO IN THE PREVIOUS PARAGRAPH, THE FOLLOWING CODES FROM THE DOCUMENT CATALOG - CADOC MUST BE USED:

INSTITUTION TYPE CADOC CODE
MULTIPLE BANK 26.1.9.193
COMMERCIAL BANK 20.1.9.104
FEDERAL SAVINGS BANK 38.0.9.113
STATE SAVINGS BANK 36.1.9.128
INVESTMENT BANK 24.1.9.138
BROKERAGE FIRM 79.1.9.121
DISTRIBUTION FIRM 85.1.9.119

ART. 2. FINANCIAL INSTITUTIONS ARE EXEMPT FROM PRIOR ACCREDITATION BY THIS CENTRAL BANK TO TRANSFER RESOURCES FROM OFFICIAL FUNDS AND PROGRAMS.

ART. 3. THE FINANCIAL INSTITUTIONS CITED IN ARTICLE 2 OF RESOLUTION NO. 1,764, OF 31.10.90, ARE EXEMPT FROM PRIOR ACCREDITATION BY THIS CENTRAL BANK TO ACT AS FIDUCIARY AGENTS IN MORTGAGE-BACKED CREDIT OPERATIONS, AS PROVIDED IN ARTICLE 30 OF DECREE-LAW NO. 70, OF 21.11.66.

ART. 4. THIS CIRCULAR ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION.

BRASÍLIA (DF), OCTOBER 31, 1990

GUSTAVO JORGE LABOISSIÈRE LOYOLA
DIRECTOR