Resolution CMN No. 2106 — Amends Article 6 of the Regulation annexed to Resolution No. 1,980 of April 30, 1993

RESOLUTION NO. 002106

Amends Article 6 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 August 31, 1994, based on Article 7 of Decree-Law No. 2,291 of November 21, 1986,

RESOLVED:

Article 1. Amend Article 6 of the Regulation annexed to Resolution
No. 1,980 of April 30, 1993, as amended by Resolutions Nos. 2,019 of October 18, 1993, and 2,088 of June 30, 1994, which shall now read as follows:

"Article 6. The allocation of resources captured in savings deposits by entities belonging to the SBPE, observed the provisions of Article 9, shall be as follows:

I - 70% (seventy percent), at minimum, in housing financing, being:

a) 80% (eighty percent), at minimum, of the above percentage in operations within the scope of the SFH;

b) the remainder in operations at market rates;

II - 30% (thirty percent) in mandatory reserve at the Central Bank of Brazil;

III - remaining resources, if any, in financial availability.

"Paragraph 1. Financing for the acquisition of new real estate, individual, or for the construction of housing on urbanized own lots, individual or in condominium, shall represent, at minimum, 25% (twenty-five percent) of the housing financing to be contracted to meet the minimum requirement set forth in item I of this article.

"Paragraph 2. Financing for the acquisition of used real estate contracted within the scope of the SFH shall be limited to 25% (twenty-five percent) of the minimum requirement set forth in item I, sub-item "a", of this article."

Article 2. The amounts collected at the Central Bank under the
mandatory reserve referred to in Article 6 of the Regulation annexed to Resolution No. 1,980 of April 30, 1993, as amended by this Resolution, shall not be included in the calculation base for purposes of contribution to the Deposit Guarantee and Real Estate Letters Fund (FGDLI), starting from the position of August 1994.

Article 3. Authorize the Central Bank of Brazil to issue
complementary norms necessary for the execution of the provisions of this Resolution, including regulating the forms of collection of the mandatory reserve.

Article 4. This Resolution enters into force on the date of its
publication.

Article 5. Article 3 of Resolution No.
2,019 of October 18, 1993, and Resolution No. 2,088 of June 30, 1994, are repealed.

Brasília, August 31, 1994

Pedro Sampaio Malan
President