CMN Resolution No. 2261 — Amending Provisions of the Regulation Annexed to Resolution No. 1,980 of April 30, 1993

RESOLUTION NO. 002261

Amending Provisions of the Regulation Annexed to Resolution No. 1,980 of April 30, 1993

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 March 28, 1996, based on Article 7 of Decree-Law No. 2,291 of November 21, 1986,

RESOLVED:

Article 1. Amend items I and II of Article 4 of the Regulation annexed to Resolution No. 1,980 of April 30, 1993, which shall henceforth read as follows:

"Article 4. ...

I - unit value of financing, comprising principal and ancillary expenses, not exceeding:

a) R$90,000.00 (ninety thousand reais);

b) 90% (ninety percent) of the appraised value of the real estate to be financed or its purchase price, whichever is lower;

II - maximum limit of the appraised value of the financed real estate of R$180,000.00 (one hundred and eighty thousand reais);

...."

Article 2. This Resolution enters into force on the date of its publication.

Brasília, March 28, 1996

Gustavo Jorge Laboissière Loyola
President