Circular No. 2.921

CIRCULAR N. 002921 ------------------ Amends the calculation basis for the compulsory reserve/required deposit referred to in Circular No. 2.759 of 4 June 1997. The Board of Directors of the Central Bank of Brazil, in a meeting held on 24 August 1999, having regard to the provisions of art. 10, items III and IV, of Law No. 4.595 of 31 December 1964, as amended by arts. 19 and 20 of Law No. 7.730 of 31 January 1989, in arts. 66 and 67 of Law No. 9.069 of 29 June 1995 and in Resolution No. 1.857 of 15 August 1991, D E C I D E D: Art. 1 Amends art. 2 of Circular No. 2.759 of 4 June 1997, which shall take effect with the following wording: "Art. 2 The compulsory reserve/required deposit applies to funds recorded in the following subgroups/account titles of the Chart of Accounts for Institutions of the National Financial System (COSIF): I - 4.1.5.10.00-9 TIME DEPOSITS; II - 4.3.1.00.00-8 FUNDS FROM EXCHANGE ACCEPTANCES; III - 4.3.4.50.00-2 DEBENTURE CERTIFICATES; IV - 4.2.1.10.80-0 OWN-ISSUE SECURITIES; and V - 4.9.9.12.20-7 CONTRACTS FOR ASSUMPTION OF OBLIGATIONS - Linked to Transactions Carried Out Abroad.". Art. 2 This Circular enters into force on the date of its publication, taking effect as from the calculation period of 23 to 27 August 1999, whose adjustment shall occur on 3 September 1999. Art. 3 Circulars Nos. 2.842 of 23 September 1998, 2.843 of 30 September 1998 and art. 1 of Circular No. 2.875 of 10 March 1999 are revoked. Brasília, 24 August 1999 Luiz Fernando Figueiredo Director