Resolution CMN No. 2130 — Amends provisions of the Regulations annexed to Resolutions Nos. 1,922 and 1,980, extinguishing the Standard Financing Unit (UPF)

RESOLUTION NO. 002130

Amends provisions of the Regulations annexed to Resolutions Nos. 1,922, of 04/30/92, and 1,980, of 04/30/93, extinguishing the Standard Financing Unit (UPF).

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 NATIONAL, in a session held on December 21, 1994, considering the provisions of Article 7 of Decree-Law No. 2,291, of November 21, 1986,

RESOLVES:

Article 1. Amend Article 9, item I, of the Regulation annexed to Resolution No. 1,922, of April 30, 1992, modified by Resolution No. 2,096, of July 27, 1994, which shall enter into force with the following wording:

"Article 9. ...

I - financings up to R$18,500.00 (eighteen thousand and five hundred reais), of residential real estate whose sale or appraisal value, whichever is higher, does not exceed R$23,000.00 (twenty-three thousand reais);

...".

Article 2. Amend Article 3 of the Regulation annexed to Resolution No. 1,980, of April 30, 1993, modified by Resolution No. 2,084, of June 30, 1994, which shall enter into force with the following wording:

"Article 3. The limits of operations of entities integrating the SFH and SBPE shall be published by the Central Bank of Brazil."

Article 3. Amend items I and II of Article 4 of the Regulation annexed to Resolution No. 1,980, of April 30, 1993, which shall enter into force with the following wording:

"Article 4. ...

I - unit value of financings, comprising principal and ancillary expenses, not exceeding:

a) R$70,000.00 (seventy thousand reais);

b) 90% (ninety percent) of the appraisal value of the property to be financed or its purchase and sale price, whichever is lower;

II - maximum limit of the appraisal value of the financed property of R$140,000.00 (one hundred and forty thousand reais);

...... ...".

Article 4. For the purposes of the provisions of Articles 10, 21, paragraphs 1 and 2, and 23 of Law No. 8,692, of July 28, 1993:

I - the limit of 2,500 UPF (two thousand and five hundred Standard Financing Units) shall henceforth be expressed by the value of R$23,000.00 (twenty-three thousand reais);

II - the limit of 2,800 UPF (two thousand and eight hundred Standard Financing Units) shall henceforth be expressed by the value of R$26,000.00 (twenty-six thousand reais).

Article 5. This Resolution enters into force on the date of its publication.

Article 6. Resolution No. 2,084, of June 30, 1994, and Communication No. 4,015, of June 30, 1994, are hereby repealed.

Brasília, December 21, 1994

Pedro Sampaio Malan
President