Resolution CMN No. 2390 — Requires Institutions to Report Client Information to the Central Bank of Brazil for the Central Credit Risk System

RESOLUTION NO. 2390

Determines that institutions specify the provision to the Central Bank of Brazil of information about clients, aiming at the implementation of the Central Credit Risk System.

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 May 22, 1997, considering the provisions of Articles 3, items V and VI, and 4, items VI, VIII, XI and XII, of the aforementioned Law,

RESOLVES:

Article 1. Determine the provision to the Central Bank of Brazil of information regarding the total amount of debts and liabilities by guarantees of clients by multiple banks, commercial banks, savings banks, investment banks, development banks, real estate credit companies, credit companies, financing and investment companies, mortgage companies, development or funding agencies, and leasing companies.

Sole Paragraph. The provisions of this article also apply to institutions under special regime.

Article 2. The information referred to shall be consolidated in terms of debts and liabilities by client and will represent the first step for the implementation of the Central Credit Risk System.

Article 3. The institutions mentioned in Article 1 may consult the consolidated client information contained in the system, provided that specific authorization from the client is obtained for this purpose.

Article 4. The Central Bank of Brazil will issue the necessary instructions to regulate the provisions of this Resolution.

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

Brasília, May 22, 1997

Gustavo Jorge Laboissière Loyola
President