Resolution CMN No. 3573 — Establishes Deadlines and Complementary Provisions for Implementation of Articles 29 and 30 of Provisional Measure No. 432 of May 27, 2008

RESOLUTION NO. 003573

Establishes the deadlines and complementary provisions for the implementation of the content contained in Articles 29 and 30 of Provisional Measure No. 432, of May 27, 2008.

The CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the MONETARY COUNCIL, in a session held on May 29, 2008, considering the provisions of Article 4, item VI, of the aforementioned Law, Articles 4 and 14 of Law No. 4,829, of November 5, 1965, Article 5 of Law No. 10,186, of February 11, 2001, and Article 41 of Provisional Measure No. 432, of May 27, 2008,

RESOLVES:

Article 1. The following deadlines are established for the implementation of the provisions contained in Articles 29 and 30 of Provisional Measure No. 432, of 2008, regarding the operations covered therein:

I - until September 30, 2008, for borrowers to express interest in joining the debt renegotiation process;

II - until December 30, 2008, for the settlement of the operation or for the minimum amortization required of the borrower in those articles as a condition for the renegotiation of their debts; and

III - until March 31, 2009, for financial agents to formalize the renegotiations.

Article 2. Financial institutions will have until June 30, 2009, to inform the Ministry of National Integration of the number of renegotiated contracts and the amounts involved in the renegotiations and settlements covered by this Resolution.

Article 3. This Resolution enters into force on the date of its publication.

Brasília, May 29, 2008.

Henrique de Campos Meirelles
President