Resolution CMN No. 3571 — Establishes Contracting Deadline and Weighting Factors for FRA Operations

RESOLUTION NO. 003571

Establishes contracting deadline until September 30, 2008, and sets weighting factors on the balance of operations contracted under the Agribusiness Receivables Financing (FRA).

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 a session held on May 29, 2008, having regard to the provisions of Articles 4, item VI, of said Law, Articles 4 and 14 of Law No. 4,829, of November 5, 1965, Article 9 of Law No. 11,524, of September 24, 2007, and Articles 38 and 41 of Provisional Measure No. 432, of May 27, 2008,

R E S O L V E D:

Art. 1 Item V of Article 1 of Resolution No. 3,507, of November 1, 2007, shall be effective with the following wording:

"Art. 1 ..................................................

V - contracting deadline: until September 30, 2008;" (NR)

Art. 2 Article 8, item II, of Resolution No. 3,507, of 2007, is amended, which shall be effective with the following wording:

"Art. 8 .................................................
...........................................................
II - until June 30, 2009, at a weighting factor of 0.63 (sixty-three hundredths) to be applied by the depositing bank and the operating bank of the FRA, in the case of own resources, on the daily average balance of the resources involved, for the purpose of compliance with their respective exigibility requirements; ....................................................." (NR)

Art. 3 Article 1 of Resolution No. 3,521, of December 20, 2007, is amended, which shall be effective with the following wording:

"Art. 1 A weighting factor of 2.49 (two and forty-nine hundredths) is fixed, until December 31, 2008, on the daily average balance of operations contracted under the credit line designated as Agribusiness Receivables Financing (FRA), with funds captured in rural savings deposits (MCR 6-4), for the purpose of complying with the exigibility requirement for application of funds from this source." (NR)

Art. 4 This Resolution enters into force on the date of its publication.

Art. 5 Resolution No. 3,528, of January 14, 2008, is hereby repealed.

Brasília, May 29, 2008.

Henrique de Campos Meirelles
President