Circular No. 3.236

CIRCULAR No. 003236 ------------------ Amend the calculation basis for the compulsory reserve requirement and mandatory deposit on demand resources and the additional requirement. The Board of Directors of the Central Bank of Brazil, in a meeting held on 5 May 2004, having regard to the provisions of art. 10, items III and IV, of Law 4.595, of 31 December 1964, as amended by arts. 19 and 20 of Law 7.730, of 31 January 1989, and in Resolution 1.857, of 15 August 1991, D E C I D E D: Art. 1 Include the balances recorded in accounting title 4.1.9.10.00-1 DEPOSITS FOR INVESTMENT in the calculation basis for the compulsory reserve requirement, the mandatory deposit and the additional requirement referred to, respectively, in Circular 3.169, of 19 December 2002, and item III of art. 2 of Circular 3.144, of 14 August 2002, amended by Circular 3.157, of 11 October 2002. Art. 2 Amend, consequently, art. 2 of Circular 3.169, of 2002, which shall take effect with the following wording: "Art. 2 The balances recorded in the following subgroups and titles of the Chart of Accounts for Institutions of the National Financial System - Cosif, adjusted as provided in art. 3, constitute the Amount Subject to Collection - VSR, on each business day: ...................................................... IX - 4.1.9.10.00-1 Deposits for Investment. ...................................................... § 3 Any negative balance in the accounting title referred to in item IX of this article shall not be considered for the purpose of calculating the arithmetic average of the VSR. ........................................." (NR) Art. 3 This circular enters into force on 2 August 2004. Brasília, 6 May 2004. Luiz Augusto de Oliveira Candiota Director