Circular No. 2732 — Amends the minimum term of interfinancial deposits

CIRCULAR No. 002732

Amends the minimum term of interfinancial deposits.

The Collegiate Board of the Central Bank of Brazil, in a session held on 12.18.96, based on arts. 10 and 11 of Law No. 8,177, of 03.01.91, 8 and 9 of Law No. 8,660, of 05.28.93, 27 and 28 of Law No. 9,069, of 06.29.95, and item II of Resolution No. 1,647, of 10.18.89,

D E C I D E D:

Art. 1 To amend art. 5 of Circular No. 2,190, of 06.26.92, amended by art. 2 of Circular No. 2,463, of 08.12.94, which shall now read as follows:

"Art. 5 The minimum term of deposits shall be:

I - 1 (one) day, when remunerated at pre-fixed market rates;

II - 4 (four) months, when remunerated based on the Referential Rate - TR.

Sole paragraph. In relation to the operations referred to in this Circular, the use of a remuneration basis that does not meet the conditions set forth in this article is prohibited."

Art. 2 This Circular shall enter into force on the date of its publication.

Art. 3 Item II of art. 2 of Circular No. 2,463, of 08.12.94, is revoked.

Brasília, December 18, 1996

Alkimar Ribeiro Moura
Director