Resolution CMN No. 3756 — Amends Resolutions Nos. 394 and 2.515

RESOLUTION NO. 003756

Amends Resolutions Nos. 394, of November 3, 1976, which regulates the activities of development banks, and 2.515, of June 29, 1998, which, among other provisions, deals with the raising of external resources by state banks.

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 June 30, 2009, based on the provisions of Articles 4, items V, VI, VIII, and XXXI, and 57 of the aforementioned law, and considering the provisions of Article 98 of Decree No. 93.872, of December 23, 1986,

RESOLVES:

Art. 1. Articles 20 and 27 of the Regulation annexed to Resolution No. 394, of November 3, 1976, shall enter into force with the following wording:

"Art. 20. Development banks must establish guarantees compatible with the risk exposure assumed in their credit operations." (NR)

"Art. 27. Merchant leasing operations must be:

I - contracted with the seller of the goods themselves or with legal entities affiliated with them; and/or

II - carried out with resources originating from federal public development institutions." (NR)

Art. 2. Article 3 of Resolution No. 2.515, of June 29, 1998, shall enter into force with the following wording:

"Art. 3. It is established that the state bank, to be authorized to raise resources abroad, must hold, in at least one international risk assessment agency, among those with the greatest prominence, a risk classification corresponding to an investment grade or, at least, equal to that obtained by the Union, in that same agency." (NR)

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

Brasília, July 1, 2009.

Henrique de Campos Meirelles
President