2007-08-29 | Resolução CMN 3488

Added 2026-09-27

Resolution CMN No. 3488 — Establishes Limit for Total Exposure in Gold, Foreign Currency, and Operations Subject to Exchange Rate Variation

Resolution CMN No. 3488 establishes a limit of 30% of Reference Equity (PR) for the total exposure in gold, foreign currency, and operations subject to exchange rate variation for financial institutions and other entities authorized by the Central Bank of Brazil. The exposure calculation must include foreign branches and be consolidated for financial conglomerates and economic-financial consolidations. The responsible risk management director is accountable for the processes and controls related to this limit, and the Central Bank may adjust the limit between a minimum of 15% and a maximum of 75%. This resolution revokes Resolution No. 2.606 of May 27, 1999, and enters into force on the date of its publication.

Brazil

Banco Central do Brasil

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RESOLUTION NO. 003488

Establishes limit for the total exposure in gold, in foreign currency and in operations subject to exchange rate variation.

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 August 29, 2007, having in view the provisions of Article 4, items VIII and XI, of the aforementioned law, in Law No. 4.728, of July 14, 1965, in Article 20 of Law No. 4.864, of November 29, 1965, in Law No. 6.099, of September 12, 1974, with the alterations introduced by Law No. 7.132, of October 26, 1983, in Law No. 10.194, of February 14, 2001, with the alteration given by Law No. 11.110, of April 25, 2005, in Article 6 of Decree-Law No. 759, of August 12, 1969, and in Article 7 of Decree-Law No. 2.291, of November 21, 1986,

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Lineage: Superseded

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Show all related documents (13)

Superseded by: CMN Resolution No. 4,956 — Establishes Maximum Limit for Exposure to Gold, Foreign Currency, and Exchange Rate Variation Operations2021
Supersedes: Resolution No. 2606 dated 1999-05-27not in RegAlert
Amended by: Resolution CMN No. 4606 — Simplified Optional Methodology for Minimum Simplified Reference Equity (PRS5) Calculation and Simplified Risk Management Structure2017
Issued under: Act No. 2291 dated 1986-11-21not in RegAlertAct No. 759 dated 1969-08-12not in RegAlertLaw No. 10194 dated 2001-02-14not in RegAlertLaw No. 4595 dated 1964-12-31not in RegAlertLaw No. 4728 dated 1965-07-14not in RegAlertLaw No. 4864 dated 1965-11-29not in RegAlert
+1 more
Law No. 6099 dated 1974-09-12not in RegAlert
Basis for: Circular No. 3398 — Establishes Procedures for Remitting Information Regarding the Calculation of Regulatory Minimum Limits and Standards2008
Referred to by: Central Bank Resolution No. 100: Consolidation of Daily Reporting Procedures for Gold, Foreign Currency, FX-Linked Operations, and Market Risk RWA Components2021 BCB Resolution No. 69 — Amends and Consolidates Procedures for Reporting Information on Regulatory Limits and Standards2021

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Amended 2 times · last 2021-10-21

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works