Circular No. 3239 — Dispenses on the Submission of Data Regarding the Application of Funds from Savings Deposits in Real Estate Financing

CIRCULAR NO. 003239

Dispenses on the Submission of Data Regarding the Application of Funds from Savings Deposits in Real Estate Financing.

The Collegiate Board of the Central Bank of Brazil, in a session held on May 26, 2004, based on Art. 10, items VI and IX, of Law 4.595 of December 31, 1964, with the renumbering given by Art. 19 of Law 7.730 of January 31, 1989, and on Art. 8 of Decree-Law 2.291 of November 21, 1986,

DECIDED:

Art. 1. Establish that, from the position relative to the month of July 2004, institutions integrated into the Brazilian Savings and Loan System (SBPE) must submit, monthly, to the Department of Information Management of the Financial System (Defin) of the Central Bank of Brazil the following data regarding real estate financing:

I - the values, linked or not to public bonds, of the scheduled disbursements, in the reference month, for release until the end of the financing contracts for the production of real estate, entered into with businessmen or incorporating or construction companies, highlighting those entered into under the conditions of the Housing Financial System (SFH) from the others;

II - the quantity and values, linked or not to public bonds, of the promises of financing to be granted to acquirers of real estate units in the production phase, contracted, until the reference month, with businessmen or incorporating or construction companies, highlighting the financing to be granted under the conditions of the SFH from the others, observed that:

a) in the case where the production is subject to financing granted by an entity integrated into the SBPE, provided it is provided for in the respective contracts, the values to be submitted are those that exceed the amount of the financing for the production of real estate, computed, in the reference month, for the purpose of verifying the compliance with the requirement to apply savings deposits in real estate financing, plus the values referred to in item I;

b) in the case where the production is not subject to financing granted by an entity integrated into the SBPE, the values to be submitted are those corresponding to the amount of the formalized financing proposals;

III - the quantity and value of the letters of credit granted and still valid, until the reference month, for the production and acquisition of real estate, new or used, with a validity period of 120 days, linked or not to public bonds, highlighting:

a) those whose corresponding financing proposals have already been formalized, including identification of the respective real estate, from the others; and

b) the financing to be granted under the conditions of the SFH highlighted from the others;

IV - the values received in cash, in the reference month, relating to monthly amortization, partial extraordinary amortizations, and early settlements of financing for the production of real estate, highlighting those entered into under the conditions of the SFH from the others;

V - the values received in cash, in the reference month, relating to monthly amortization, partial extraordinary amortizations, and early settlements of financing for the acquisition of real estate, highlighting those granted under the conditions of the SFH from the others;

VI - the quantity and value of financing proposals for the production of real estate under conditions to be entered into with businessmen or incorporating or construction companies, whose analysis has already been concluded, until the reference month, but which have not yet been submitted to the approval of the institution's credit committee, highlighting those that fall under the conditions of the SFH from the others;

VII - the percentage of alienated real estate units, by project, before and after completion, until the reference month, whose production is being financed by the institution, highlighting those that fall under the conditions of the SFH from the others;

VIII - the values received in cash, in the reference month, and those expected in each of the six subsequent months to the reported position, relating to the redemption of Mortgage Letters (LH) and Letters of Real Estate Credit (LCI) issued by the institution, highlighting those guaranteed by housing financing operations granted under the conditions of the SFH from the others;

Art. 2. The information referred to in this circular must be submitted to the Defin until the 10th day of the month following the reported position.

Sole Paragraph. Failure to observe the deadline set in the caput or the provision of incorrect information subjects institutions integrated into the SBPE to a monetary fine and other penalties established in Resolution 2,901 of October 31, 2001, without prejudice to other sanctions provided for in the legislation and regulations in force.

Art. 3. The Department of Norms of the Financial System (Denor) and the Defin are authorized to disclose the form and conditions under which the information referred to in this circular must be provided, and may subsequently consolidate them with those referred to in Art. 1, § 1, of Circular 2,466 of August 18, 1994.

Art. 4. This circular enters into force on the date of its publication.

Brasília, May 27, 2004.

Antonio Gustavo Matos do Vale
Director

Paulo Sérgio Cavalheiro
Director