Circular No. 3.127

CIRCULAR No. 003127 ------------------ Amends the rate of compulsory reserve deposits and mandatory reserve requirements on time deposits, resources from exchange acceptances, pledge of debentures, securities issued by the institution itself, and contracts for the assumption of obligations linked to transactions carried out abroad. The Collegiate Board of the Central Bank of Brazil, in an extraordinary session held on 14 June 2002, taking into account 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, in arts. 66 and 67 of Law 9.069, of 29 June 1995, and in Resolution 1.857, of 15 August 1991, D E C I D E D: Art. 1. To amend to 15% (fifteen percent) the rate of compulsory reserve deposits and mandatory reserve requirements on time deposits, resources from exchange acceptances, pledge of debentures, securities issued by the institution itself, and contracts for the assumption of obligations linked to transactions carried out abroad, referred to in art. 4 of Circular 3.091, of 1 March 2002. Art. 2 This circular enters into force on the date of its publication, taking effect as of the calculation period from 10 to 14 June 2002, whose adjustment will occur on 21 June 2002. Brasília, 14 June 2002 Luiz Fernando Figueiredo Director