CMN Resolution No. 2572 — Establishes remuneration for fiduciary agents under Decree-Law No. 70 of November 21, 1966

RESOLUTION No. 002572

Dispenses with the remuneration of fiduciary agents provided for in Decree-Law No. 70, of November 21, 1966.

THE CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the NATIONAL MONETARY COUNCIL, in a session held on December 17, 1998, based on Article 7 of Decree-Law No. 2,291, of November 21, 1986, and considering the provisions of Article 30, paragraph 1, of Decree-Law No. 70, of November 21, 1966,

RESOLVES:

Article 1. Establish that the calculation of the remuneration of the fiduciary agent, provided for in Article 9, items "a" and "b", of the Regulation annexed to Resolution of the Board of Directors No. 08, of February 18, 1970, of the extinct National Housing Bank, may be carried out based on percentages negotiated directly with the mortgage creditor, respecting the maximum limits of 5% (five percent), in cases of purge of the overdue debt, and of 3% (three percent), in other cases.

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

Brasília, December 17, 1998

Gustavo H. B. Franco
President