CMN Resolution No. 2772 — Exempts specified institutions from minimum paid-in capital and net worth requirements

RESOLUTION NO. 2772

Exempts the institutions mentioned herein from compliance with the minimum limits of paid-in capital and net worth and required net worth.

The CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the MONETARY NATIONAL COUNCIL, in a session held on August 30, 2000, considering the provisions of Article 4, items VIII and XIII, of the aforementioned Law,

RESOLVES:

Article 1. Establish that independent institutions of the Brazilian Savings and Loan System (SBPE) - which, by virtue of CMN Vote No. 239 of June 5, 1985, opted to assume the status of pass-through agents, by transferring their balance of public resources to other institutions of the said System and concomitant commitment to abstain from collecting public resources - remain exempt from compliance with the minimum limits of paid-in capital and net worth and required net worth, provided for in Regulations Annex II and IV to Resolution No. 2,099 of August 17, 1994, with the wording given by Resolutions Nos. 2,607 of May 27, 1999, and 2,692 of February 24, 2000, and subsequent amendments, while the characteristics that justify such status remain unchanged.

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

Brasília, August 30, 2000

Arminio Fraga Neto
President