Circular No. 2.801

CIRCULAR N. 002801 ------------------ Amends the risk weighting factors contained in the Asset Classification Table annexed to Resolution No. 2.099, of 17.08.94, and creates titles and subtitles in COSIF. The Board of Directors of the Central Bank of Brazil, in a session held on 04.02.98, based on art. 4, item XII, of Law No. 4.595, of 31.12.64, by competence delegated by the National Monetary Council, by act of 19.07.78, and based on art. 2, paragraph 2, of Regulation Annex IV to Resolution No. 2.099, of 17.08.94, D E C I D E D: Art. 1 Reduce, from 100% (one hundred percent) to 20% (twenty percent), the weighting factor applicable to credits arising from housing finance contracts overdue or settled with discount in respect of which the option for the novation provided for in Provisional Measure No. 1.635-17, of 13.01.98, has already been expressed with the operating agent of the Salary Variation Compensation Fund - FCVS. Paragraph 1 Create, as a result of the provisions of this article, in the title SFH - SALARY VARIATION COMPENSATION FUND of the Accounting Plan for Institutions of the National Financial System - COSIF, the following subtitles with the same attributes and ESTBAN and publication codes of the said title: 1.4.2.65.10-9 With Option for Novation 1.4.2.65.20-2 Without Option for Novation. Paragraph 2 For institutions that have opted for the novation of FCVS credits, the recognition of corresponding revenues is limited to the charges provided for the novation, including in relation to the portions for which the Fund is responsible in "outstanding" contracts. Art. 2 Establish that the amounts accepted by the National Treasury as privatization currencies, recorded in the proprietary system of the Custody and Financial Settlement Center for Securities - CETIP, must be accounted for in the following COSIF titles, with the attributes UBDKIFACTSWEROLMNHZ and respective ESTBAN and publication codes: 1.3.5.10.00-6 PRIVATIZATION CURRENCIES - 130 - 138 1.3.5.99.00-3 (-) PROVISION FOR IMPAIRMENT OF PRIVATIZATION CURRENCIES - 130 - 139. Sole paragraph. Eliminate, as a result of the provisions of this article, the following COSIF titles: 1.3.5.10.00-6 PRIVATIZATION CERTIFICATES 1.3.5.99.00-3 PROVISION FOR IMPAIRMENT OF PRIVATIZATION CERTIFICATES. Art. 3 Make the following amendments to the annexed table referred to in art. 2, paragraph 1, of Regulation Annex IV to Resolution No. 2.099, of 17.08.94, as amended by art. 1 of Circular No. 2.568, of 04.05.95: I - reduction, from 100% (one hundred percent) to 0% (zero percent), of the weighting factor applicable to the subgroup breakdown "1.3.5.00.00-9 Linked to the Acquisition of Shares of State-Owned Enterprises"; II - reduction, from 50% (fifty percent) to 0% (zero percent), of the weighting factor applicable to the title "1.8.5.80.00-0 REFINANCED OPERATIONS WITH THE FEDERAL GOVERNMENT"; III - inclusion of the following subtitles with a weighting factor of 0% (zero percent): 1.2.2.10.15-6 Linked with
Guarantee 1.2.2.10.35-2 Linked with Guarantee - Linked to Rural Credit 1.2.2.10.50-3 Linked - Linked to Renegotiated Debts; IV - inclusion of the subtitle "1.4.2.65.10-9 With Option for Novation", with a weighting factor of 20% (twenty percent); V - inclusion of the following subtitles, with a weighting factor of 50% (fifty percent): 1.2.2.10.25-9 Not Linked with Guarantee 1.2.2.10.45-5 Not Linked with Guarantee - Linked to Rural Credit 1.2.2.10.55-8 Not Linked - Linked to Renegotiated Debts 1.8.2.26.50-8 Interbank Exchange Operations for Future Settlement; VI - inclusion of the following subtitles, with a weighting factor of 100% (one hundred percent): 1.4.2.65.20-2 Without Option for Novation 1.8.2.26.30-2 Import Exchange Operations for Future Settlement 1.8.2.26.40-5 Financial Exchange Operations for Future Settlement 1.8.2.26.70-4 Exchange Operations for Spot Settlement 3.0.1.30.30-4 Non-Financial Individuals or Legal Entities; VII - exclusion of the following titles and subtitles: 1.3.1.80.00-3 INVESTMENTS IN REMUNERATED SPECIAL DEPOSITS - CONVERSIONS OF LAW NO. 8.024/90 1.4.2.65.00-6 SFH - SALARY VARIATION COMPENSATION FUND 1.6.4.40.00-1 MORTGAGE FINANCINGS 1.6.4.60.10-8 Real Estate Developments - Prior to DL 2291/86 1.6.4.60.20-1 Real Estate Developments - Subsequent to DL 2291/86 1.6.4.60.30-4 Housing 1.6.4.60.40-7 Mortgage 1.8.2.26.10-6 From Clients 1.8.2.26.20-9 From Financial Institutions. Art. 4 This Circular enters into force on the date of its publication. Brasília, 4 February 1998 Sérgio Darcy da Silva Alves Director