Resolution CMN No. 2209 — Amending Management Criteria for the Bahia Cocoa Crop Recovery Program and Financing Formalization Deadline for 1995

RESOLUTION NO. 002209

Amending the management criteria for the
Bahia Cocoa Crop Recovery Program and the deadline for formalizing financing in the year 1995.

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 October 25, 1995, considering the provisions of Article 4, item VI, of the aforementioned Law, and of Articles 4 and 14 of Law No. 4,829 of November 5, 1965,

HAS RESOLVED:

Article 1. The following conditions must be observed within the scope of the Bahia Cocoa Crop Recovery Program, governed by Resolution No. 2,165 of June 19, 1995, in the case of operations with risks to the National Treasury and the Treasury of the State of Bahia:

I - it is the exclusive responsibility of the General Supervision Group (GS) to define parameters and establish criteria for the analysis and contracting of operations;

II - financing proposals submitted by financial institutions to the Regional Coordination Group (GC) must be examined by the latter regarding their merit and submitted, in concise reports, to the decision of the General Supervision Group (GS).

Article 2. Extend, from October 31, 1995, to December 31, 1995, the deadline established in Article 1, item VIII, of Resolution No. 2,165 of June 19, 1995, for contracting financing under the auspices of the aforementioned Program during the year 1995.

Article 3. This Resolution enters into force on the date of its publication.

Brasília, November 8, 1995

Gustavo Jorge Laboissière Loyola
President