Resolution CMN No. 2724 — Provisions on the Provision of Information for the Central Credit Risk System

RESOLUTION NO. 2724

Dispenses with the provision of information for 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, in a session held on May 31, 2000, 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. It is determined that the Central Bank of Brazil be provided with information regarding the amount of debts and liabilities by guarantee for clients from multiple banks, commercial banks, Caixa Econômica Federal, investment banks, development banks, real estate credit societies, credit societies, financing and investment companies, mortgage companies, development agencies, and leasing companies.

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

Article 2. The information referred to:

I - shall be consolidated in the Central Credit Risk System in terms of debts and liabilities per client;

II - are the exclusive responsibility of the institutions mentioned in Article 1, including with respect to their respective inclusion, updates, or exclusion from the 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 is authorized to issue norms and adopt the measures necessary for the fulfillment of the provisions of this Resolution.

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

Article 6. Resolution No. 2,390 of May 22, 1997, is hereby repealed, and the regulatory basis of Circular No. 2,977 of April 6, 2000, shall be this Resolution, as well as the citation contained in Letter-Circular No. 2,909 of April 26, 2000, is hereby replaced by this Resolution.

Brasília, May 31, 2000

Arminio Fraga Neto
President