Circular No. 2.869

CIRCULAR N. 002869 ------------------ Amends operational conditions of the financial assistance lines addressed in Resolution No. 2.308, of 28.08.96. The Collegiate Board of the Central Bank of Brazil, in a session held on 04.03.99, based on item V of art. 10 of Law No. 4.595, of 31.12.64, as amended by arts. 19 and 20 of Law No. 7.730, of 31.01.89, and on art. 5 of Resolution No. 2.308, of 28.08.96, D E C I D E D: Art. 1 Extinguish the base value addressed in items VI, VII and VIII of art. 2 of Resolution No. 2.308, of 28.08.96. Art. 2 Amend the financial charges of the Liquidity Loan Line addressed in item V of art. 2 of Resolution No. 2.308, of 28.08.96, which become equivalent to the SELIC Rate defined in paragraph 1 of art. 2 of Circular No. 2.868, of 04.03.99, plus percentages, depending on the guarantees constituted and the frequency of use, according to the table below: -------------------------------------------------------------------- Frequency of | Guarantees use, consid- | ------------------------------------------------- ered over a 60- | Federal | Real, given by | Other business-day | Public | individuals | movable period | Securities | or non- | property | | financial | | | legal entities | -------------------------------------------------------------------- up to 15 consecutive 2% p.a. 4% p.a. 8% p.a. or non-consecutive business days from 15 up to 30 consecutive 2% p.a. 6% p.a. 9% p.a. or non-consecutive business days above 30 consecutive 2% p.a. 8% p.a. 10% p.a. or non-consecutive business days -------------------------------------------------------------------- Art. 3 Amend the financial charges of the Special Medium-Term Loan addressed in item V of art. 3 of Resolution No. 2.308, of 28.08.96, which become equivalent to the SELIC Rate defined in paragraph 1 of art. 2 of Circular No. 2.868, of 04.03.99, plus 4% (four percent) per year. Art. 4 Revoke arts. 1 and 2 of Circular No. 2.712, of 28.08.96, and Circulars Nos. 2.830, 2.835, 2.841, 2.849, 2.856, 2.866, respectively, of 12.08.98, 04.09.98, 23.09.98, 11.11.98, 18.01.99 and 02.03.99. Art. 5 This Circular enters into force on the date of its publication. Brasília, 04 March 1999 Luiz Fernando Figueiredo Director