RegAlertRule · BCB · 30 Nov 2000 · Resolução CMN 2788
Resolution CMN No. 2788 — Provides for the establishment and operation of commercial and multiple banks under shareholding control of central credit cooperatives
Central credit cooperatives may establish commercial and multiple banks, provided they hold at least 51% of voting shares. These institutions must include "Banco Cooperativo" in their name and, if multiple banks, maintain a commercial portfolio. Establishers must publish a statement of intent and prove economic-financial compatibility. Cooperative banks must maintain adjusted net equity compatible with asset risk, applying a 0.13 factor to risk-weighted active operations. This Resolution enters into force upon publication and revokes Resolutions Nos. 2,193 and 2,399.
RESOLUTION NO. 2788
Provides for the establishment and operation of commercial banks and multiple banks under shareholding control of central credit cooperatives.
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 November 30, 2000, based on Article 4, items VI, VIII, and XI of the aforementioned Law and Articles 88 and 103 of Law No. 5,764 of December 16, 1971,
RESOLVES:
Article 1. It is permitted to establish commercial banks and multiple banks under shareholding control of central credit cooperatives.
Paragraph 1. The central credit cooperatives forming part of the controlling group must hold, in minimum, 51% (fifty-one percent) of the voting shares of the financial institutions covered by this Resolution.
Paragraph 2. Multiple banks established in accordance with this Resolution must necessarily possess a commercial portfolio.
Paragraph 3. The name of the financial institutions covered by this Resolution must include the expression "Banco Cooperativo".
Article 2. In the establishment of cooperative banks, only the controlling legal entities must publish a statement of intent and prove an economic-financial situation compatible with the undertaking, in accordance with the regulations in force.
Article 3. Cooperative banks must maintain a value of adjusted net equity in accordance with the regulations in force, compatible with the degree of risk of the structure of their assets, liabilities, and clearing accounts (PLE), in accordance with the provisions of Annex IV Regulation to Resolution No. 2,099 of August 17, 1994, as amended by Resolution No. 2,692 of February 24, 2000, observing the value of 0.13 (thirteen hundredths) for the factor "F" applicable to risk-weighted active operations (Apr).
Article 4. The establishment and operation of cooperative banks are subject, in aspects not defined in this Resolution, to the legislation and regulations in force applicable to commercial banks and multiple banks in general.
Article 5. The Central Bank of Brazil is authorized to issue norms and adopt measures deemed necessary for the execution of the provisions of this Resolution.
Article 6. This Resolution enters into force on the date of its publication.
Article 7. Resolutions Nos. 2,193 of August 31, 1995, and 2,399 of June 25, 1997, are hereby revoked.
Brasília, November 30, 2000
Arminio Fraga Neto
President
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- Obligation 5
- Permission 1
- Definition / condition 4
- background, boilerplate
Lineage: Superseded
A newer document in RegAlert replaces this one.
The links and the sentences they come from (5)
- Superseded by
“IV - Resolution No. 2,788, of November 30, 2000;”
- Supersedes
“Resolutions Nos. 2,193 of August 31, 1995... are hereby revoked.”
- Resolution No. 2399 dated 1997-06-25Not in RegAlert
“Resolutions Nos.... and 2,399 of June 25, 1997, are hereby revoked.”
- Issued under
“in accordance with Article 9 of Law No. 4,595 of December 31, 1964”
- Law No. 5764 dated 1971-12-16Not in RegAlert
“Articles 88 and 103 of Law No. 5,764 of December 16, 1971”
Mentions (2): 1 document this one mentions and 1 document that mentions it, without changing it
- Refers to
“as amended by Resolution No. 2,692 of February 24, 2000”
- Referred to by
“Authorize cooperative banks, as referred to in Resolution 2,788 of November 30, 2000, to receive rural savings deposits”
Timeline
Amended 1 time · last 2023-02-16
- 2023-02-16
BCBCMN Resolution No. 5,060 — Organization and Operation of Commercial and Multiple Bankssupersedes
This document supersedes: Resolution CMN No. 2193 — Provisions on the Establishment and Operation of Commercial Banks with Exclusive Participation by Credit Cooperatives
What changed in the obligations
Against Resolution CMN No. 2193 — Provisions on the Establishment and Operation of Commercial Banks with Exclusive Participation by Credit Cooperatives (1995-08-31)
2 new obligations · 1 amount or limit changed · 1 change of scope · 5 not carried over
2 obligations are the same in both texts.
Changed (2)
- Scope
- Before
- Article 1. It is permitted the establishment of commercial banks with exclusive participation by singular credit cooperatives, except those of the "luzzatti" type, and central credit cooperatives, as well as federations and confederations of credit cooperatives.
- Now
- Article 1. It is permitted to establish commercial banks and multiple banks under shareholding control of central credit cooperatives.
- Amount or limit
- Before
- Article 3. The commercial banks referred to in this Resolution: IV - must maintain an adjusted net equity value compatible with the degree of risk of their asset structure, for the purposes provided in Resolution No. 2.099 of August 17, 1994, according to the following formula, considering the variables also defined in the cited regulation: PLE = 0.15 (Apr) + 0.015 (SW).
- Now
- Article 3. Cooperative banks must maintain a value of adjusted net equity in accordance with the regulations in force, compatible with the degree of risk of the structure of their assets, liabilities, and clearing accounts (PLE), in accordance with the provisions of Annex IV Regulation to Resolution No. 2,099 of August 17, 1994, as amended by Resolution No. 2,692 of February 24, 2000, observing t…
New in this text (2)
- Paragraph 1. The central credit cooperatives forming part of the controlling group must hold, in minimum, 51% (fifty-one percent) of the voting shares of the financial institutions covered by this Resolution.
- Paragraph 2. Multiple banks established in accordance with this Resolution must necessarily possess a commercial portfolio.
Not carried over (5)
- The commercial banks referred to in this article must be constituted as closed corporations, in accordance with Law No. 6.404 of December 15, 1976.
- Article 3. The commercial banks referred to in this Resolution: II - have their activities restricted to the States in which the headquarters of the controlling legal entities are located;
- Article 3. The commercial banks referred to in this Resolution: III - may enter into service provision agreements with credit cooperatives located within their area of operation;
- Article 4. The following are prohibited for the commercial banks referred to in this Resolution: I - participation in the share capital of financial institutions and other institutions authorized to operate by the Central Bank of Brazil;
- Article 4. The following are prohibited for the commercial banks referred to in this Resolution: II - the execution of "swap" operations on behalf of third parties.
“Not carried over” means the sentence has no counterpart in this text; the rule can still be in force in another text.
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