Circular No. 2379 — Establishes Procedures Regarding Compliance with Additional Resource Requirements Under Resolution No. 1,981 of April 30, 1993

CIRCULAR NO. 002379

Establishes procedures regarding compliance with additional resource requirements under Resolution No. 1,981 of April 30, 1993.

The Board of Directors of the Central Bank of Brazil, in a session held on November 10, 1993, based on the provisions of Article 8 of Resolution No. 1,981 of April 30, 1993,

DECIDED:

Article 1. Extend until November 26, 1993, the deadline for remitting to the Central Bank the data regarding the position as of October 31, 1993, making the corresponding adjustment on November 29, 1993.

Sole Paragraph. The amounts collected, relating to the position referred to in this article, shall be remunerated based on the Reference Rate (TR) of November 29, 1993, using the pro-rata business days criterion until December 15, 1993, observing the provisions of Article 6 of Resolution No. 1,981 of April 30, 1993.

Article 2. The amounts collected by the Central Bank, relating to the position as of September 30, 1993, shall be remunerated in the manner set forth in the sole paragraph and Article 2 of Circular No. 2,372 of October 19, 1993, and may be released to the "Bank Reserves" account of the holder/convenor on November 16, 1993, if the institution demonstrates that, based on the regulations in force, it has the right to a refund.

Article 3. This Circular enters into force on the date of its publication.

Brasília, November 11, 1993.

Francisco Eduardo de Almeida Pinto Cláudio Ness Mauch Director of Monetary Policy Director of Standards and Organization of the Financial System