Circular No. 3381 — Establishes procedures for submitting information on market risk exposures and calculation of Required Reference Equity (PRE) portions under Resolutions No. 3,464 and 3,490 of 2007

CIRCULAR NO. 003381

Establishes procedures for the submission of information regarding market risk exposures and the calculation of the respective portions of Required Reference Equity (PRE), as addressed in Resolutions No. 3,464 and 3,490, both from 2007.

The Collegiate Board of the Central Bank of Brazil, in a session held on April 24, 2008, based on the provisions of Articles 10, item IX, with the renumbering given by Law No. 7,730, of January 31, 1989, and 11, item VII, of Law No. 4,595, of December 31, 1964, and considering the provisions of Resolutions No. 3,464, of June 26, 2007, and 3,490, of August 29, 2007,

D E C I D E D:

Art. 1. Financial institutions and other institutions authorized to operate by the Central Bank of Brazil must prepare and submit information regarding market risk exposures and the calculation of the respective portions of Required Reference Equity (PRE), as addressed in Resolutions No. 3,464, of June 26, 2007, and 3,490, of August 29, 2007.

Sole Paragraph. The submission of information is waived for:

I - microentrepreneur credit societies;

II - institutions mentioned in Article 1 of Resolution No. 2,772, of August 30, 2000;

III - single credit cooperatives that have adopted the option provided for in Article 2, § 4, of Resolution No. 3,490, of 2007;

IV - single credit cooperatives affiliated with central credit cooperatives.

Art. 2. The information referred to in Article 1 must be submitted to the Department of Monitoring of the Financial System and Information Management (Desig), in the manner to be established by it, with the base date being the last business day of each month, observing the following deadlines:

I - for financial conglomerates and financial institutions not belonging to financial conglomerates, by the fifth business day of the following month;

II - for economic-financial consolidations, as addressed in Resolution No. 2,723, of May 31, 2000, with the wording given by Resolution No. 2,743, of June 28, 2000, by the tenth business day of the following month.

§ 1. The information referred to in Article 1 must be submitted to the Central Bank of Brazil whenever requested, including for base dates different from that established in this article.

§ 2. For the base dates below, the following deadlines must be observed:

I - July 31, 2008, by the tenth business day of September 2008;

II - August 29, 2008, by the fifth business day of October 2008;

III - September 30, 2008, by the last business day of October 2008.

Art. 3. The institutions referred to in Article 1 must keep available to the Central Bank of Brazil the data and methodology used for the preparation of the submitted information, for a period of five years.

Art. 4. The procedures regarding the preparation and timely submission of the information referred to in this circular are the responsibility of the director indicated under the terms of Article 10 of Resolution No. 3,464, of 2007.

Art. 5. This circular enters into force on the date of its publication, producing effects from July 1, 2008, when Circular No. 3,046, of July 12, 2001, will be revoked.

Brasília, April 24, 2008.

Alvir Alberto Hoffmann Alexandre Antonio Tombini Director Director