Resolution CMN No. 1779 — Establishes the obligation to register in the Special Settlement and Custody System (SELIC) and the Securities Registration and Financial Settlement System (CETIP)

RESOLUTION NO. 001779

ESTABLISHES THE OBLIGATION TO REGISTER IN THE SPECIAL SETTLEMENT AND CUSTODY SYSTEM (SELIC) AND IN THE SECURITIES REGISTRATION AND FINANCIAL SETTLEMENT SYSTEM (CETIP).

THE CENTRAL BANK OF BRAZIL, IN ACCORDANCE WITH ARTICLE 9 OF LAW NO. 4,595, OF 12/31/1964, MAKES PUBLIC THAT THE MONETARY COUNCIL, IN A SESSION HELD ON 12/19/1990, HAVING REGARD TO THE PROVISIONS OF ARTICLE 4, ITEM VIII OF THE SAID LAW, AND ARTICLES 2, ITEMS II AND III, AND 10, ITEM V, OF LAW NO. 4,728, OF 07/14/1965,

RESOLVES:

ART. 1. FINANCIAL INSTITUTIONS AND OTHER COMPANIES AUTHORIZED TO OPERATE BY THE CENTRAL BANK OF BRAZIL MAY ONLY ADMIT INTO THEIR RESPECTIVE PORTFOLIOS, AND THOSE RELATING TO FUNDS ADMINISTERED BY THEM, PUBLIC AND PRIVATE SECURITIES, PROPERLY REGISTERED, AS THE CASE MAY BE, IN THE SPECIAL SETTLEMENT AND CUSTODY SYSTEM (SELIC) OR IN THE SECURITIES REGISTRATION AND FINANCIAL SETTLEMENT SYSTEM (CETIP), OR IN ANY OTHER CUSTODY AND SETTLEMENT SYSTEM THAT MAY BE AUTHORIZED BY THE CENTRAL BANK.

PARAGRAPH 1. THE CONDITION SET FORTH IN THIS ARTICLE SHALL ALSO APPLY TO SECURITIES COMPOSING THE PORTFOLIOS OF INSURANCE COMPANIES, CAPITALIZATION COMPANIES, OPEN AND CLOSED PRIVATE PENSION ENTITIES, AS WELL AS TO INTERMEDIATION OPERATIONS CONDUCTED BY FINANCIAL INSTITUTIONS AND OTHER COMPANIES AUTHORIZED TO OPERATE BY THE CENTRAL BANK.

PARAGRAPH 2. THE SECURITIES OF AGRARIAN DEBT AND INDUSTRIAL, COMMERCIAL, AND RURAL CREDIT NOTES AND BILLS ARE EXEMPT FROM THE REGISTRATIONS REFERRED TO.

ART. 2. THE CENTRAL BANK OF BRAZIL MAY AUTHORIZE EXCEPTIONS TO THE NORMS ESTABLISHED HEREIN, AS WELL AS ADOPT THE COMPLEMENTARY MEASURES NECESSARY FOR THE EXECUTION OF THIS RESOLUTION.

ART. 3. THIS RESOLUTION ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION, ALLOWING FOR THE RECLASSIFICATION OF THE RESPECTIVE PORTFOLIOS TO BE PROMOTED GRADUALLY, DUE TO THE MATURITY OF THE SECURITIES COMPOSING THEM.

ART. 4. CIRCULAR NO. 1,078, OF 10/16/1986, IS REVOKED.

BRASÍLIA (DF), DECEMBER 20, 1990

IBRAHIM ERIS
PRESIDENT