Circular No. 2.984

CIRCULAR N. 002984 ------------------ Establishes the obligation to prepare and submit the Consolidated Economic-Financial Document - CONEF. The Board of Directors of the Central Bank of Brazil, in a session held on 14 June 2000, based on art. 4, item XII, of Law No. 4.595, of 31 December 1964, by competence delegated by the National Monetary Council, by act of 19 July 1978, and having regard to the provisions of Resolution No. 2.723, of 31 May 2000, D E C I D E D: Art. 1 To institute document No. 5 "Consolidated Economic-Financial - CONEF", code 4050, in the Chart of Accounts of Institutions of the National Financial System - COSIF, for compliance with the provisions of art. 3 of Resolution No. 2.723, of 31 May 2000. Paragraph 1 For the preparation of the document referred to in the "caput", the procedures provided for in COSIF for the operational consolidated statement must be observed, where applicable. Paragraph 2 The financial statements to be consolidated must correspond to the same base date, and for the statements of non-financial companies, the following is allowed: I - up to the December 2000 base date, a lag of up to sixty days; II - from the January 2001 base date and up to the June 2001 base date, a lag of thirty days. Paragraph 3 For the consolidation of financial statements relating to non-financial companies, a period of up to sixty days of lag may be allowed, upon prior authorization from the Department of Organization of the Financial System (DEORF), which will analyze any duly justified requests. Paragraph 4 The provisions of the previous paragraph do not apply to investments in companies that present a high leverage ratio or similar to that characteristic of financial institutions or institutions authorized to operate by the Central Bank of Brazil, such as insurance companies, capitalization companies, open private pension entities, local reinsurers, credit card administrators, companies specialized in import and export and factoring companies. Paragraph 5 The structure of CONEF will be disclosed by the Department of Norms of the Financial System (DENOR). Art. 2 CONEF must be submitted monthly to the Department of Registration and Information of the National Financial System (DECAD), from the July 2000 base date, within a period of up to thirty days counted from the first business day subsequent to the respective base dates, observing the following coding of the Document Catalog - CADOC: SEGMENTS CADOC CODES Development Agencies 05.1.3.005-4 Savings and Loan Associations 12.1.3.007-8 Commercial Banks 20.1.3.007-7 Development Banks 22.1.3.007-5 Investment Banks 24.1.3.007-3 Multiple Banks 26.1.3.005-7 National Bank for Economic and Social Development 28.0.3.007-6 Federal Savings Bank 38.0.3.007-3 Mortgage Companies 39.1.3.005-1 Leasing Companies 77.1.3.005-1 Brokerage Firms 79.1.3.005-9 Credit, Financing and Investment Companies 81.1.3.005-4 Real Estate Credit Companies 83.1.3.007-6 Distributors 85.1.3.005-0 Art. 3 For the
purpose of calculating the Required Shareholders' Equity (PLE), the weighting factors provided in the Asset Classification Table of Annex IV of Resolution No. 2.099, of 17 August 1994, amended by Circular No. 2.568, of 4 May 1995, and subsequent regulations, must be observed, with a weighting factor of 100% (one hundred percent) established for other assets not classified in the referred document. Art. 4 The controlling institution responsible for the preparation and submission of CONEF must be informed to DECAD by 31 July 2000. Art. 5 Non-compliance with the provisions of this Circular shall subject the offending institution to the payment of a fine, in accordance with Resolution No. 2.194, of 31 August 1995. Art. 6 This Circular enters into force on the date of its publication. Brasília, 15 June 2000 Sérgio Darcy da Silva Alves Director