Resolution CMN No. 3307 on the Registration of Securities Owned by Financial Institutions

RESOLUTION NO. 3307

Dispenses with the registration of securities and financial assets owned by financial institutions and other institutions authorized to operate by the Central Bank of Brazil in systems for registration and financial settlement of assets.

The CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law 4,595 of December 31, 1964, makes it known that the NATIONAL MONETARY COUNCIL, in a session held on August 31, 2005, based on Article 4, item VIII, of the aforementioned law, and on Articles 2, items II and III, and 10, item V, of Law 4,728 of July 14, 1965,

RESOLVES:

Article 1. It is determined that financial institutions and other institutions authorized to operate by the Central Bank of Brazil must register the securities and financial assets owned by them in individualized accounts maintained in systems for registration and financial settlement of assets authorized by the aforementioned Autarchy or by the Securities and Exchange Commission.

Sole Paragraph. The condition of the securities and financial assets classified in the category held until maturity must be explicit, in accordance with the regulation established by the Central Bank of Brazil.

Article 2. The Central Bank of Brazil is authorized to issue norms for the implementation of the provisions of this resolution.

Article 3. This resolution enters into force on the date of its publication, producing effects from December 1, 2005.

Brasília, August 31, 2005.

Henrique de Campos Meirelles
President