CMN Resolution No. 4319 — Regulates International Transfers in Reais in National Currency Accounts Held by International Organizations Accredited by the Brazilian Government

The Central Bank of Brazil, pursuant to Article 9 of Law No. 4,595 of December 31, 1964, makes public that the National Monetary Council, in a session held on March 27, 2014, considering the provisions of Article 4, items V, VI, VIII, and XXXI of the aforementioned Law,

R E S O L V E D:

Art. 1. Authorized banks operating in the foreign exchange market are permitted to accept deposits of resources originating from authorized fundraising in the Brazilian securities market into national currency accounts held by international organizations accredited by the Brazilian Government, domiciled or headquartered abroad.

§ 1. Overdraft balances in the accounts mentioned in the caput are admitted, provided they result from occasional and temporary needs.

§ 2. Resources credited in the accounts referred to in the caput as a result of authorized fundraising in the Brazilian securities market must be directed to the granting of credit to the private sector or to investment in private titles, in the country, in accordance with current regulations.

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

Alexandre Antonio Tombini
President of the Central Bank of Brazil