Circular No. 2772 — Regulates Credit Assignment Operations Under Article 11 of Resolution No. 1,962 of August 27, 1992

CIRCULAR NO. 002772

Disciplines the credit assignment operations referred to in Article 11 of Resolution No. 1,962 of August 27, 1992.

The Collegiate Board of the Central Bank of Brazil, based on Article 13 of Resolution No. 1,962 of August 27, 1992,

DECIDED:

Article 1. For the purpose of the examination by the Central Bank of Brazil of credit assignment operations carried out under the terms of Article 11 of Resolution No. 1,962 of August 27, 1992, as amended by Resolution No. 2,412 of August 6, 1997, the assigning institution must forward a draft credit assignment contract containing, at a minimum:

I - a list, nature, book value, and maturity date of the credits subject to assignment;

II - the transaction value;

III - payment method;

IV - name and identification of the assignee;

V - a list of any existing guarantees;

VI - proof of the assignee's economic and financial capacity, as well as the origin of the funds used;

VII - a provision that the acquired credits may only be subject to a new assignment with prior authorization from the Central Bank of Brazil.

Article 2. This Circular enters into force on the date of its publication.

Brasília, August 6, 1997

Alkimar Ribeiro Moura
Director