Resolution CMN No. 3272 — Provides for the registration of securities issued, accepted, or guaranteed by financial institutions and other institutions authorized by the Central Bank of Brazil

RESOLUTION NO. 003272

Provides for the registration of securities and financial assets issued, accepted, or guaranteed, except for shares, by financial institutions and other institutions authorized to operate by the Central Bank of Brazil in clearing and financial settlement systems authorized by the Central Bank of Brazil or by the Securities and Exchange Commission.

THE CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the NATIONAL MONETARY COUNCIL, in a session held on March 23, 2005, based on Article 4, item VIII, of the aforementioned law, and on Articles 2, items II and III, and 10, item VII, of Law No. 4,728 of July 14, 1965,

RESOLVES:

Article 1. Establish that financial institutions and other institutions authorized to operate by the Central Bank of Brazil must register the securities and financial assets of their issuance, acceptance, or guarantee, except for shares, in clearing and financial settlement systems authorized by that agency or by the Securities and Exchange Commission.

Sole Paragraph. The conditions regarding deadlines and values for the early redemption of the securities and financial assets mentioned in the caput must also be registered.

Article 2. The entities responsible for the administration of a clearing and financial settlement system must maintain, for a minimum period of ten years, at the disposal of the Central Bank of Brazil and the Securities and Exchange Commission (CVM), according to the nature of the assets and obligations, a database containing information about the registrations carried out in accordance with Article 1, without prejudice to the provision of specific reports requested by those agencies.

Article 3. The Central Bank of Brazil and the CVM, within their respective areas of competence, shall widely disseminate statistics produced from the data collected from the entities referred to in Article 2.

Article 4. The Central Bank of Brazil and the CVM, within their respective areas of competence, are authorized to issue norms for the implementation of the provisions of this resolution, and may also:

I - define the cases of exemption from the registration requirement referred to in Article 1;

II - establish the form, means, and conditions under which the information referred to in Article 2 must be provided, which must be considered for the purposes of monitoring the liquidity risk referred to in Resolution No. 2,804 of December 21, 2000.

Article 5. This resolution enters into force on the date of its publication, producing effects from July 1, 2005.

Brasília, March 24, 2005.

Henrique de Campos Meirelles
President