Circular No. 2186 — Provides for the application of funds from remunerated special deposits

CIRCULAR No. 002186

PROVIDES FOR THE APPLICATION OF FUNDS FROM REMUNERATED SPECIAL DEPOSITS.

WE ANNOUNCE THAT THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, IN A SESSION HELD ON JUNE 11, 1992, BASED ON THE PROVISIONS OF ART. 20 OF LAW No. 8,024, OF APRIL 12, 1990, DECIDED:

ART. 1. TO AMEND ITEM V OF ART. 5 OF CIRCULAR No. 2,001, OF AUGUST 6, 1991, WITH THE MODIFICATION INTRODUCED BY ART. 1 OF CIRCULAR No. 2,161, OF APRIL 15, 1992, WHICH SHALL TAKE EFFECT WITH THE FOLLOWING WORDING:

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

V - 20% (TWENTY PERCENT), AT MINIMUM, AND 30% (THIRTY PERCENT), AT MAXIMUM, EXCEPT IN THE CASE OF SAVINGS BANKS AND SAVINGS AND LOAN ASSOCIATIONS, IN OPERATIONS FOR THE STORAGE OF AGRICULTURAL PRODUCTS AND FUEL ALCOHOL AND IN RURAL CREDIT OPERATIONS DESTINED FOR THE FOLLOWING PURPOSES, SUBJECT TO THE DAILY REFERENCE RATE (TRD) PLUS INTEREST NOT EXCEEDING 12.5% (TWELVE AND FIVE TENTHS PERCENT) PER YEAR, EXCEPT FOR THE CASES SPECIFIED BELOW:

• AGRICULTURAL FINANCING;

• FINANCING OF POULTRY, SWINE AND SMALL-PRODUCER DAIRY CATTLE RAISING;

• ACQUISITION OF CORN DESTINED FOR THE FINANCING OF POULTRY, SWINE AND DAIRY CATTLE RAISING, REGARDLESS OF THE SIZE OF THE PRODUCER;

• RENEWAL OF SUGARCANE CROPS;

• LOAN TO COOPERATIVE FOR ADVANCES TO MEMBERS ON ACCOUNT OF THE PRICE OF PRODUCTS DELIVERED FOR SALE;

• FEDERAL GOVERNMENT LOAN (EGF), WITH A MINIMUM TERM OF 90 (NINETY) DAYS. THE EGF/SOYBEAN, 1991/92 CROP, IS SUBJECT TO THE DAILY REFERENCE RATE (TRD) PLUS INTEREST NOT EXCEEDING 18% (EIGHTEEN PERCENT) PER YEAR;

• DISCOUNT OF RURAL PROMISSORY NOTES (NPR) RELATING TO THE MARKETING OF AGRICULTURAL PRODUCTS WHOSE FINANCING IS CONSIDERED A PRIORITY PURPOSE FOR THE EFFECT OF THE APPLICATION OF COMPULSORY FUNDS (MCR 6-2), SUBJECT TO THE EFFECTIVE INTEREST RATE EQUIVALENT TO THE CHARGES INCURRED IN RURAL OPERATIONS, CONSIDERING FOR THE NOTE RELATING TO THE MARKETING OF SOYBEAN, 1991/92 CROP, THE DAILY REFERENCE RATE (TRD) PLUS INTEREST NOT EXCEEDING 18% (EIGHTEEN PERCENT) PER YEAR.
  ......"

ART. 2. THIS CIRCULAR ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION.

BRASÍLIA (DF), JUNE 11, 1992

GUSTAVO JORGE LABOISSIÈRE LOYOLA
DIRECTOR