Resolution CMN No. 3629 — Directing Resources Captured in Savings Deposits by Entities of the Brazilian Savings and Loan System (SBPE)

RESOLUTION NO. 003629

Dispenses with the direction of resources captured in savings deposits by entities integrated into the Brazilian Savings and Loan System (SBPE).

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 October 30, 2008, based on Articles 7 of Decree-Law No. 2,291 of November 21, 1986, and 28 of Law No. 10,150 of December 21, 2000,

RESOLVES:

Art. 1. Item XXV is inserted into Article 2 of the Regulation annexed to Resolution No. 3,347 of February 8, 2006, with the following wording:

"Art. 2. .............................................

XXV - working capital financing, with a maximum term of sixty months, granted by March 31, 2009, to:

a) real estate incorporations subject to the affected patrimony regime, as provided for in Articles 31-A to 31-F of Law No. 4,591 of December 16, 1964, with the wording given by Law No. 10,931 of August 2, 2004; or

b) societies constituted with the specific purpose of administering risks, benefits, assets, and obligations arising from activities carried out with the aim of promoting and carrying out the construction, for total or partial alienation, of buildings or sets of buildings composed of autonomous units.

............................................." (NR)

Art. 2. The Regulation annexed to Resolution No. 3,347 of 2006 shall enter into force amended by the addition of Article 10-A:

"Art. 10-A. The total value of the operations referred to in Article 2, item XXV, may not exceed 5% (five percent) of the value calculated in accordance with Article 1, paragraph 1." (NR)

Art. 3. This resolution enters into force on the date of its publication.

Brasília, October 30, 2008.

Henrique de Campos Meirelles
President