Circular No. 2214 — Provisions on Applications with Resources from Remunerated Special Deposits

CIRCULAR NO. 002214

PROVISIONS ON APPLICATIONS WITH RESOURCES FROM REMUNERATED SPECIAL DEPOSITS.

WE COMMUNICATE THAT THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, IN A SESSION HELD ON 05.08.92, BASED ON THE PROVISIONS OF ART. 20 OF LAW NO. 8.024, OF 12.04.90, DECIDED:

ART. 1. AMEND ITEM V OF ART. 5 OF CIRCULAR NO. 2,001, OF 06.08.91, WITH THE MODIFICATIONS INTRODUCED BY ARTS. 1 OF CIRCULARS NOS. 2,161 AND 2,186, OF 15.04.92 AND 11.06.92, WHICH SHALL ENTER INTO FORCE WITH THE FOLLOWING WORDING:

"ART. 5. ......
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V - 20% (TWENTY PERCENT), AS A MINIMUM, AND 30% (THIRTY PERCENT), AS A MAXIMUM, EXCEPT WHEN DEALING WITH SAVINGS BANKS AND SAVINGS AND LOAN ASSOCIATIONS, IN OPERATIONS FOR THE STORAGE OF AGRICULTURAL PRODUCTS AND FUEL ALCOHOL, SUBJECT TO THE DAILY REFERENCE RATE (TRD) PLUS AN EFFECTIVE INTEREST RATE NOT EXCEEDING 12.5% P.A. (TWELVE WHOLE AND FIVE TENTHS PERCENT PER ANNUM), AND IN RURAL CREDIT OPERATIONS DESTINED FOR THE FOLLOWING PURPOSES, SUBJECT TO THE SAME CHARGES ESTABLISHED FOR APPLICATIONS WITH MANDATORY RESOURCES (MCR 6-2):

• AGRICULTURAL, POULTRY, PIG, DAIRY CATTLE, AND FISHING FUNDING;

• INVESTMENT FOR SOIL PROTECTION, CONSERVATION AND RECOVERY AND FOR RENEWAL OF SUGARCANE CROPS;

• LOANS TO COOPERATIVES FOR ADVANCES TO COOPERATORS ON ACCOUNT OF THE PRICE OF PRODUCTS DELIVERED FOR SALE;

• OTHER FUNDING AND INVESTMENTS DESTINED TO MINIPRODUCERS AND SMALL PRODUCERS;

• LOANS FROM THE FEDERAL GOVERNMENT (EGF) WITH A MINIMUM TERM OF 90 (NINETY) DAYS;

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

ART. 3. CIRCULAR NO. 2,186, OF 11.06.92, AND THE MCR 6-2-12, ARE HEREBY REPEALED.

BRASÍLIA (DF), AUGUST 7, 1992

GUSTAVO JORGE LABOISSIÈRE LOYOLA
DIRECTOR"