Circular No. 2.979

CIRCULAR N. 002979 ------------------ Amends Circular No. 2.965 of 8 February 2000, which deals with the Rediscount of the Central Bank. The Collegiate Board of the Central Bank of Brazil, in a session held on 26 April 2000, having regard to the provisions of art. 10, items V and XII, of Law No. 4.595 of 31 December 1964, renumbered by virtue of arts. 19 and 20 of Law No. 7.730 of 31 August 1989, and in Resolution No. 2.685 of 26 January 2000, D E C I D E D: Art. 1 To amend subparagraphs "c" of paragraph 1 of art. 3 and "b" of paragraph 1 of art. 4 of Circular No. 2.965 of 8 February 2000, which shall henceforth have the following wording: "Art. 3 ..... Paragraph 1 ..... c) Resale price: purchase price updated, from the date of the transaction, by the SELIC Rate, plus a rate to be defined by the Collegiate Board, in line with monetary policy guidelines." "Art. 4 ..... Paragraph 1 ..... b) Sale of rediscounted assets: in the event of a sale, the price of the assets shall correspond to the amount determined in the rediscount transaction updated, in the respective period, by the SELIC Rate, plus a rate to be defined by the Collegiate Board, in line with monetary policy guidelines." Art. 2 This Circular enters into force on the date of its publication. Brasília, 26 April 2000 Luiz Fernando Figueiredo Director