Circular No. 2761 — Alters the expression format of the adjusted average rate of financing in the SELIC system for federal bonds and the percentage expression for fixing the Central Bank Basic Rate (TBC) and Central Bank Assistance Rate (TBAN)

The adjusted average rate of financing in the SELIC system for federal bonds is expressed as an annual rate with two decimal places using a specified formula. The Central Bank Basic Rate (TBC) and the Central Bank Assistance Rate (TBAN) are published as effective annualized rates with two decimal places, based on 252 business days per year. The Department of Banking Operations (DEBAN) and the Department of Open Market Operations (DEMAB) are authorized to adopt necessary complementary measures for execution. This Circular enters into force on the date of publication, with effects starting from January 1, 1998.

BCB published 18 documents in the last 30 days — get each new one by email the day it lands.

CIRCULAR NO. 002761

Alters the expression format of the adjusted average rate of financing in the Special Settlement and Custody System (SELIC) for federal bonds, as well as the percentage expression for fixing the Central Bank Basic Rate (TBC) and the Central Bank Assistance Rate (TBAN).

The Collegiate Board of the Central Bank of Brazil, in a session held on 18.06.97, based on the provisions of Article 7 of Resolution No. 1,693 of 26.03.90, and considering the content of Article 6 of the Regulation annexed to Circular No. 2,698 of 20.06.96,

DECIDED:

Article 1. The adjusted average rate of financing in the Special Settlement and Custody System (SELIC) for federal bonds, referred to in Article 1, item VI, of Resolution No. 1,693 of 26.03.90, shall be expressed in annual form, with 2 (two) decimal places, according to the following formula:

∑(j=1 to n) Lj Vj
------------------ - 1] x 100} % a.a.
∑(j=1 to n) Vj

where:
Lj = daily factor corresponding to the rate of the j-th operation.
Vj = financial value corresponding to the j-th operation.

Article 2. The Central Bank Basic Rate (TBC) and the Central Bank Assistance Rate (TBAN), created by Circulars No. 2,698 and 2,711 of 20.06.96 and 28.08.96, respectively, shall be published as effective annualized rates, with two decimal places, considering 252 (two hundred and fifty-two) business days for the year.

Article 3. Authorize the Department of Banking Operations (DEBAN) and the Department of Open Market Operations (DEMAB) to adopt the measures and issue the complementary norms deemed necessary for the execution of the provisions of this Circular.

Article 4. This Circular enters into force on the date of its publication, with effects starting from 01.01.98.

Brasília, June 18, 1997

Francisco Lafaiete de Pádua Lopes
Director

Read the rest free

Lineage: Superseded

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Timeline

Amended 1 time · last 2013-10-18

2013-10-18BCBCircular No. 3671 — Establishes the methodology for calculating the Selic Ratesupersedes

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works