Circular No. 2194 — Establishes the method for updating minimum limits of paid-in capital and net worth

Circular No. 2194, of June 30, 1992

CIRCULAR NO. 2194

Establishes the method for updating the minimum limits of paid-in capital and net worth, as provided for in Resolution No. 1,852, of July 31, 1991, and Circulars No. 2,006, of August 8, 1991, and No. 2,027, of August 28, 1991.

We communicate that the Board of Directors of the Central Bank of Brazil, having regard to the provisions of Resolution No. 1,933, of June 30, 1992, Article 48 of Law No. 8,383, of December 30, 1991, and Law No. 8,177, of March 1, 1991, and based on Article 4, item XII, of Law No. 4,595, of December 31, 1964, and Article 11 of Resolution No. 1,852, of July 31, 1991, by competence delegated by the National Monetary Council,

HAS DECIDED:

Article 1. The minimum limits of paid-in capital and net worth established in the current regulation for consortium administrators must be updated as follows:

I - in the month of October 1991, by the monthly variation of the National Consumer Price Index (INPC);

II - in the months of November and December 1991, by the variation of the Patrimonial Update Factors (FAP), contained in Declaratory Act CST No. 002, of January 3, 1992, of the Federal Revenue Department;

III - from January 1, 1992, monthly, by the same index established for the purpose of patrimonial monetary correction.

Sole Paragraph. For the purposes of the provisions of this article, the value of the paid-in capital, increased by the corresponding monetary correction reserve, and the value of the net worth adjusted in accordance with the current regulation, shall be considered.

Article 2. The minimum levels of paid-in capital and adjusted net worth referred to in items "a" and "b" of item II of Article 2 of Resolution No. 1,852, of July 31, 1991, are corrected to CR$ 10,000,000,000.00 (ten billion cruzeiros) and CR$ 5,000,000,000.00 (five billion cruzeiros), respectively, and must be updated, from January 1, 1992, monthly, by the index established for the purpose of patrimonial monetary correction.

Article 3. Institutions that, on the respective base date, present net worth lower than that corresponding to CR$ 74,000,000.00 (seventy-four million cruzeiros), on December 31, 1991, updated from January 1, 1992, monthly, by the same index used for patrimonial monetary correction, are authorized to publish their financial statements in specialized magazines or in bulletins of information and dissemination of class entities.

Article 4. This Circular enters into force on the date of its publication.

Circular No. 2194, of June 30, 1992

Article 5. Article 2 of Circular No. 2,006, of August 8, 1991, Circular No. 2,018, of August 15, 1991, the sole paragraph of Article 1 and Articles 2 and 3 of Circular No. 2,027, of August 28, 1991, are hereby repealed.

Brasília (DF) June 30, 1992.

Pedro Luiz Bodin de Moraes
Director

This text does not replace the published version in the DOU and Sisbacen.