Circular No. 2073 — Amends verification of minimum application percentage for special remunerated deposits in rural credit operations and deposits with the Central Bank for insufficiency

CIRCULAR NO. 002073

ALTERS THE VERIFICATION OF COMPLIANCE WITH THE MINIMUM PERCENTAGE OF APPLICATION OF RESOURCES OF SPECIAL REMUNERATED DEPOSITS IN RURAL CREDIT OPERATIONS AND THE DEPOSIT MADE WITH THE CENTRAL BANK FOR INSUFFICIENCY IN APPLICATIONS OF THIS SPECIES.

WE COMMUNICATE THAT THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, IN A SESSION HELD ON 30.10.91, BASED ON THE PROVISIONS OF ART. 20 OF LAW NO. 8,024, OF 12.04.90, DECIDED:

ART. 1. AMEND PARAGRAPH 2 OF ART. 5 OF CIRCULAR NO. 2,001, OF 06.08.91, WITH THE MODIFICATION INTRODUCED BY CIRCULAR NO. 2,058, OF 09.10.91, WHICH SHALL NOW BE IN EFFECT WITH THE FOLLOWING WORDING:

"ART. 5. ......
......

PARAGRAPH 2. THE VERIFICATION OF OBSERVANCE OF THE MINIMUM PERCENTAGE REFERRED TO IN ITEM V SHALL BE MADE MONTHLY, BASED ON DATA RELATING TO THE 14TH DAY OF EACH MONTH OR, IN MONTHS WHERE THE 14TH IS A NON-BUSINESS DAY, ON THE IMMEDIATELY PRECEDING BUSINESS DAY, WHEREBY THE DIFFERENCE BETWEEN SUCH PERCENTAGE AND THE EFFECTIVELY APPLIED IN THE OPERATIONS REFERRED TO THEREIN:

A - MAY BE SUPPLIED WITH AN INTERBANK DEPOSIT LINKED TO RURAL CREDIT - DIR, PROVIDED THAT THE DEPOSITORY INSTITUTION OBEYS THE DIRECTION ESTABLISHED THEREIN; OR

B - SHALL BE SUBJECT TO DEPOSIT WITH THE CENTRAL BANK, REMUNERATED, DAILY, BY THE TRD AND UNAVAILABLE UNTIL THE DATE OF THE SUBSEQUENT VERIFICATION.

......"

ART. 2. AMEND PARAGRAPH 1 OF ART. 1 OF CIRCULAR NO. 2,003, OF 06.08.91, WITH THE MODIFICATION INTRODUCED BY CIRCULAR NO. 2,058, OF 09.10.91, WHICH SHALL NOW BE IN EFFECT WITH THE FOLLOWING WORDING:

"ART. 1. ......

PARAGRAPH 1. THE COLLECTION REFERRED TO IN THE "CAPUT" OF THIS ARTICLE MUST CORRESPOND, AT A MINIMUM, TO 20% (TWENTY PERCENT) OF THE DAILY BALANCES OF THE SPECIAL REMUNERATED DEPOSITS, AS A COMPULSORY collection."

(*) ART. 3. THE DEADLINE PROVIDED FOR IN ART. 4 OF CIRCULAR NO. 2,058, OF 09.10.91, FOR ADAPTING THE COMPOSITION OF THE APPLICATIONS OF RESOURCES CORRESPONDING to the special remunerated deposits to the provisions of ART. 5, ITEM V, OF CIRCULAR NO. 2,001, OF 06.08.91, WITH THE WORDING GIVEN TO IT BY THE MENTIONED CIRCULAR NO. 2,058, IS EXTENDED UNTIL 14.11.91, FROM WHICH DATE THE SYSTEMS OF VERIFICATION, DEPOSIT AND REMUNERATION SUBJECT TO THE MODIFICATIONS INTRODUCED BY ART. 1 OF THIS CIRCULAR WILL BE IMPLEMENTED.

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

BRASÍLIA (DF), OCTOBER 31, 1991

GUSTAVO JORGE LABOISSIÈRE LOYOLA PEDRO LUIZ BODIN DE MORAES DIRECTOR DIRECTOR

(*) RETRANSMITTED FOR CONTAINING AN ERROR IN ART. 3.