Resolution No. 2.685

RESOLUTION No. 002685 ------------------- Authorizes the Central Bank of Brazil to institute and regulate the granting of Central Bank Rediscount, in the forms of rediscount and purchase, with repurchase commitment, of securities, credits and credit rights forming part of the assets of financial institutions. THE CENTRAL BANK OF BRAZIL, in accordance with art. 9 of Law No. 4.595, of 31 December 1964, makes public that the NATIONAL MONETARY COUNCIL, in session of 26 January 2000, taking into account the provisions of art. 4, item XVII, of the aforementioned Law, of art. 8, paragraph 1, of Law No. 9.069, of 29 June 1995 and of art. 21 of Provisional Measure No. 1.925-3, of 6 January 2000, R E S O L V E D: Art. 1 Authorize the Central Bank of Brazil to institute a Central Bank Rediscount mechanism, in the forms of rediscount and purchase, with repurchase commitment, of securities, credits and credit rights forming part of the assets of multiple banks with commercial portfolio, commercial banks and savings banks. Art. 2 The Central Bank of Brazil shall issue the complementary rules necessary for the operationalization of the measures provided for in this Resolution. Art. 3 This Resolution shall enter into force on 14 February 2000, when Resolution No. 2.308, of 28 August 1996, shall be revoked. Brasília, 26 January 2000 Arminio Fraga Neto President