Circular No. 3592 — Regulates the provision of credit resulting from the use of the indirect export system, as provided for in Law No. 9,529 of December 10, 1997

The Collegiate Board of the Central Bank of Brazil, in a session held on May 2, 2012, based on arts. 9, 10 and 11 of Law No. 4,595 of December 31, 1964, and art. 2 of Resolution No. 4,074 of April 26, 2012,

R E S O L V E :

Art. 1 The term of credit operations offered by banks authorized to operate in the foreign exchange market to finance indirect export operations is 360 (three hundred and sixty) days, and the borrower must be required to provide a declaration in the form of Law No. 9,529 of December 10, 1997.

Art. 2 Banks authorized to operate in the foreign exchange market must register in the Accounting Plan of the Institutions of the National Financial System (Cosif) the credits referred to in this Circular under the subtitle "1.6.2.20.30-0 To Indirect Export", in the title EXPORT FINANCING.

Art. 3 The subtitle "1.6.2.20.30-0 To Indirect Export", of the account EXPORT FINANCING, is included in art. 1 of Circular No. 2,751 of April 9, 1997, and in the map annexed to said Circular.

Art. 4 The other norms relating to credit operations apply, insofar as applicable, to the operations referred to in this Circular.

Art. 5 This Circular enters into force on the date of its publication.

Art. 6 Circular No. 2,782 of November 12, 1997 is revoked.

  Luiz Awazu Pereira da Silva  
        Director of Regulation of the Financial System