Resolution CMN No. 3011 — Establishes Conditions for Financing by the Union to BNDES under MP 59/2002

RESOLUTION NO. 3011

Establishes conditions for the granting of financing by the Union to the National Bank for Economic and Social Development (BNDES) in the manner provided for in Article 2 of Provisional Measure No. 59, of 2002.

THE CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the MONETARY POLICY COUNCIL, in an extraordinary session held on August 16, 2002, considering the provisions of Article 2, paragraph 2, of Provisional Measure No. 59, of August 15, 2002,

RESOLVES:

Article 1. It is established that the granting of financing by the Union to the National Bank for Economic and Social Development (BNDES) in the manner provided for in Article 2 of Provisional Measure No. 59, of August 15, 2002, with the objective of meeting programs instituted based on Article 5 of Law No. 10,438, of April 26, 2002, and other financial operations with public companies in the electric sector, is subject to the following conditions:

I - remuneration: the average adjusted rate of daily financing calculated in the Special Settlement and Custody System - Selic;

II - term: up to five years.

Article 2. This resolution enters into force on the date of its publication.

Brasília, August 16, 2002

Arminio Fraga Neto
President