Resolution CMN No. 2162 — Amends the wording of Article 1, paragraph 3, of Resolution No. 2,068 of April 28, 1994

RESOLUTION NO. 2162

Amends the wording of Article 1, paragraph 3, of Resolution No. 2,068 of April 28, 1994.

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 May 31, 1995, based on Article 7 of Decree-Law No. 2,291 of November 21, 1986,

RESOLVES:

Article 1. Amend Article 1, paragraph 3, of Resolution No. 2,068 of April 28, 1994, which shall henceforth read as follows:

"Article 1. ......................................................
................................................................

"Paragraph 3. The new monthly charge shall be obtained according to the following formula:

E' = P' + C' + A

(P + C + A) x N 1
P' = ( ------------ - A ) x -------
N' 1 + K

C' = K x P'

where:

E' = value of the new monthly charge;

P' = value of the new amortization and interest installment;

C' = value of the FCVS contribution;

A = value of the accessories, excluding the FCVS contribution, in effect before the renegotiation, updated 'pro rata die' in the manner of the preceding paragraph;

P = value of the amortization and interest installment in effect before the renegotiation, updated 'pro rata die' in the manner of the preceding paragraph;

C = value of the FCVS contribution in effect before the renegotiation;

N = remaining term before the renegotiation;

N' = remaining term after the renegotiation;

K = zero, for contracts without monthly FCVS contribution;

K = 0.03, for contracts with monthly FCVS contribution."

Article 2. Revoke Resolution No. 29 of October 31, 1968, of the extinct National Housing Bank (BNH).

Article 3. The Central Bank may issue the norms deemed necessary for the execution of the provisions of this Resolution.

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

Brasília, May 31, 1995

Persio Arida
President