Rule · BCB · 28 Apr 1988 · Resolução CMN 1476

CMN Resolution No. 1476 — Reduces Minimum Savings Percentage for PAIT to 10 Percent

CMN Resolution No. 1476 reduces the minimum percentage of funds saved through individual or corporate Savings and Investment Plans (PAIT) that must be invested in federal public bonds to 10 percent. The Central Bank of Brazil and the Securities and Exchange Commission (CVM) are authorized to issue necessary regulations and measures to execute this Resolution. The Resolution enters into force on the date of its publication, April 28, 1988.

BrazilBanco Central do Brasil

RESOLUTION NO. 001476

The CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the MONETARY COUNCIL, in a session held on this date, having regard to the provisions of paragraph 1 of Article 9 of Decree-Law No. 2,292 of November 21, 1986,

HAS RESOLVED:

I - To reduce to 10% (ten percent) the minimum percentage of funds saved through a Savings and Investment Plan (PAIT), individual or corporate, which must be mandatorily invested in federal public bonds.

II - The Central Bank and the Securities and Exchange Commission, within the scope of their respective competencies, may issue the regulations and adopt the necessary measures for the execution of this Resolution.

III - This Resolution enters into force on the date of its publication.

Brasília-DF, April 28, 1988

Elmo de Araujo Camões
President

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Issued under

Lei n.º 4.595, de 31 de dezembro de 1964 — dispõe sobre a política e as instituições monetárias, bancárias e creditícias (establishes the National Financial System and the Banco Central do Brasil)1964 · BR-LAW
“in accordance with Article 9 of Law No. 4,595 of December 31, 1964”
Decree-Law No. 2,292 of November 21, 1986Not in RegAlert
“having regard to the provisions of paragraph 1 of Article 9 of Decree-Law No. 2,292 of November 21, 1986”