Resolution CMN No. 2830 — Regulates the role of securities brokerage and distribution companies as fiduciary agents in mortgage-backed real estate credit operations

RESOLUTION NO. 2830

Regulates the role of securities brokerage companies and securities distribution companies as fiduciary agents in real estate credit operations with mortgage guarantees.

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 April 25, 2001, considering the provisions of Article 30, item II, of Decree-Law No. 70 of November 21, 1966, and Article 7 of Decree-Law No. 2,291 of November 21, 1986,

RESOLVES:

Art. 1 Alter Article 2 of Resolution No. 1,764 of October 31, 1990, as amended by Resolution No. 2,375 of April 24, 1997, which shall now read as follows:

"Art. 2 Determine that multiple banks, commercial banks, investment banks, development banks, Caixa Econômica Federal, credit, financing and investment societies, real estate credit societies, savings and loan associations, mortgage companies, securities brokerage companies and securities distribution companies may exercise the functions of fiduciary agent in real estate credit operations with mortgage guarantees, in accordance with Article 30 of Decree-Law No. 70 of November 21, 1966. (NR)

Sole Paragraph. The institutions referred to in the caput of this article may perform the activities provided for therein independently of prior accreditation by the Central Bank of Brazil." (NR)

Art. 2 This Resolution enters into force on the date of its publication.

Art. 3 Resolution No. 2,375 of April 24, 1997, and Article 3 of Circular No. 1,832 of October 31, 1990, are hereby revoked.

Brasília, April 25, 2001

Arminio Fraga Neto
President