Resolution CMN No. 2734 — Authorizes the investment of resources by insurance companies, capitalization societies, private pension entities, and local reinsurers in securitized credits by the National Treasury and public bonds issued by states and municipalities refinanced by the National Treasury

RESOLUTION NO. 002734

Dispenses on the application of resources of insurance companies, capitalization societies, private pension entities, and local reinsurers in securitized credits by the National Treasury and in public bonds issued by states and municipalities that have been the object of refinancing by the National Treasury.

The CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the MONETARY NATIONAL COUNCIL, in a session held on June 28, 2000, considering the provisions of Article 28 of Decree-Law No. 73, of November 21, 1966, Article 4 of Decree-Law No. 261, of February 28, 1967, Article 15 of Law No. 6,435, of July 15, 1977, and Article 4 of Law No. 9,932, of December 20, 1999,

RESOLVES:

Article 1. It is permitted the application of resources guaranteeing the technical reserves of insurance companies, capitalization societies, and private pension entities, as well as of resources guaranteeing the technical provisions of local reinsurers, in securitized credits by the National Treasury and in public bonds issued by states and municipalities that have been the object of refinancing by the National Treasury.

Sole Paragraph. The applications referred to in this article are not subject to composition and diversification requirements, and must be computed, as the case may be, among those referred to in:

I - Article 2, item I, or Article 3, item I, of Resolution No. 2,286, of June 5, 1996, as well as be subject, insofar as applicable, to the other provisions provided in the same Resolution, in the case of insurance companies, capitalization societies, and private pension entities;

II - Article 2, item I, or Article 3, item I, of Resolution No. 2,693, of February 24, 2000, as well as be subject, insofar as applicable, to the other provisions provided in the same Resolution, in the case of local reinsurers.

Article 2. The Central Bank of Brazil and the Private Insurance Superintendence (SUSEP) are authorized, within their respective areas of competence, to adopt the measures and issue the complementary norms that may be necessary for the execution of the provisions of this Resolution.

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

Brasília, June 28, 2000

Luiz Fernando Figueiredo
Substitute President