boletim do banco central do brasil – annual report 2011 · 166 boletim do banco central do brasil...

VIII Main Economic Policy Measures 165

Constitutional Amendment

68, dated 12.21.2011 – Approved the prorogation of the Release of Federal Government Resources Entitlements (DRU) up to December 31, 2015. By means of this mechanism, R$62.4 billion of the Federal Budget of 2012 were converted to funds for free programming.

Supplementary Law

139, dated 11.10.2011 – Increased by 50% the limits of the annual Gross income for purposes of classifi cation of micro-enterprises and small companies into the differentiated tributary regime (Simplifi ed Taxation System). Such limits increased to R$360 thousand and R$3.6 million, respectively. Besides, increased from R$36 thousand to R$60 thousand the gross income value for purposes of classifi cation o informal workers into the category of individual micro-entrepreneur.

Laws

12,380, dated 1.10.2011 (conversion of the Provisional Measure no. 500, dated 8.30.2010) – Authorized the Federal Government and entities of the federal indirect public administration to contract, reciprocally, or with private fund of which the National Treasury be a single shareholder, the acquisition, conveyance, assignment and share swap, and assignment of credits resulting from advances for future increase of capital, the assignment of overriding allocation of shares in public supplies or the assignment to the right of preference for the subscription of shares in increase of business capital, in which have share participation, and adopted other precautionary measures.

12,381, dated 2.9.2011 – Estimated the incomes and fi xed the expenditures of the Federal Budget related to the fi scal year 2011.

12,382, dated 2.25.2011 – Set in R$545.00 the minimum wage, which came into force on March 1, 2011, and established rules to set the value that will come into force in the period 2012-2015.

VIIIMain Economic Policy Measures

166 Boletim do Banco Central do Brasil – Annual Report 2011

12,385, dated 3.3.2011 – Provided for the provision of fi nancial assistance by the Federal Government to the States, the Federal District and the Municipalities, in the fi scal year 2010, in order to promote the country’s exports; modifi ed the conditions for the concession of subsidy in fi nancing operations, according to the Article 1 of Law no. 12,096, dated November 24, 2009, and repealed devices of Laws no. 10,260, dated July 12, 2001, and 12,096, dated November 24, 2009.

12,397, dated 3.23.2011 (conversion of the Provisional Measure no. 505, dated 9.24.2010) – Authorized the Federal Government to grant credit to the Brazilian Development Bank (BNDES), amounting to R$30 billion, aiming to make it feasible to the bank to participate in the equity offer of Petrobras.

12,402, dated 5.2.2011 (conversion of the Provisional Measure no. 510, dated 10.28.2010) – Regulated the fulfi llment of the tax obligations by consortiums, which carry out the contracting, on their own behalf, on behalf of legal persons and individuals, with or without employment bonds.

12,404, dated 5.4.2011 (conversion of the Provisional Measure no. 511, dated 11.5.2010) – Authorized the Federal Government to create the “Empresa de Transporte Ferroviario de Alta Velocidade S.A.”, and guarantee a fi nancing of up to R$20 billion between the Brazilian Development Bank (BNDES) and the concessionaire which will explore such mode of transport.

12,407, dated 5.19.2011 (conversion of the Provisional Measure no. 512, dated 11.25.2010) – Prorogated up to 2020 the fi scal incentives granted to automotive industries located on the North, Northeast and Central-West regions.

12,409, dated 5.25.2011 (conversion of the Provisional Measure no. 513, dated 11.26.2010) – Authorized the Wage Variation Compensation Fund (FCVS) to assume rights and obligations of the Homeowner Insurance of the Housing Financing System; authorized the Federal Government to issue, in favor of the Sovereign Fund of Brazil, securities of the Federal Public Securities Debt.

12,431, dated 6.24.2011 (conversion of the Provisional Measure no. 517, dated 12.30.2010) – Provided for the incidence of the income tax on specifi c operations, modifi ed the Laws no. 6,404, dated December 15, 1976, no. 9,430, dated December 27, 1996, no. 11,478, dated May 29, 2007, and 12,350, dated December 20, 2010, created the Special Incentive System for the Development of Nuclear Power Plants (Renuclear), provided for tax measures related to the Internet Access National Plan, modifi ed the legislation related to the exemption of the Additional Charge on Freight (AFRMM), provided for the extinction of the Development National Fund, among other measures.


12,453, dated 7.21.2011 (conversion of the Provisional Measure no. 526, dated 3.4.2011) – Increased from R$134 billion to R$209 billion the limit of fi nancing operations with economic subsidy under the modality of interest rate equalization, organized by the Brazilian Development Bank (BNDES).

12,465, dated 8.12.2011 – Provided for the guidelines, priorities of expenditures and rules and parameters that should guide the elaboration of the annual budget law project, which will be submitted to the National Congress up to August 31, 2011. Also provided for the most relevant goals of the Federal Public Administration, the organization and guidelines for the elaborations and execution of the federal budgets and the dispositions related to the federal public debt. The primary surplus target, for the nonfi nancial consolidated public sector, was set at R$139.8 billion (3.5% of GDP), of which R$97 billion should be considered by the Social Security and Fiscal Budget, and R$42.8 billion by regional governments. The primary surplus target may be reduced up to the sum of R$40.6 billion related to the Growth Incentive Program (PAC).

12,469, dated 8.26.2011 (conversion of the Provisional Measure no. 528, dated 3.25.2011) – Modifi ed the values contained in the table of the Individual Income Tax, which will come into force in the calendar years 2011, 2012, 2013 and 2014.

12,507, dated 10.11.2011 – Modifi ed the Article 28 of Law no. 11,196, dated November 21, 2005, to include in the Digital Inclusion Program the tablet PC produced in the country, in compliance with the basic productive process established by the Executive Branch.

12,543, dated 12.8.2011 – Authorized the National Monetary Council, for purposes of exchange and monetary policy, to establish specifi c conditions for the negotiation of derivative contracts, among other measures.

12,545, dated 12.14.2011 (conversion of the Provisional Measure no. 541, dated 8.2.2011) – Authorized the Federal Government to participate with R$1 billion in the Export Financing Fund (FFEX), for the composition of its assets.

12,546, dated 12.14.2011 (conversion of the Provisional Measure no. 540, dated 8.2.2011) – Created the Special System of Tax Return for Exporting Companies (Reintegra); provided for the reduction of the Industrialized Products Tax (IPI) to automotive industries; reduced to zero the rate of the employer contribution on the payroll of industries of textiles, footwear, furniture and software; increased to 300% the IPI rate on cigarettes; increased from 7.6% to 9.1% the rate of the Contribution to Social Security Financing (Cofi ns) – import on clothing, footwear and leather products, wood furniture, among other products.


Provisional Measures

523, dated 1.20.2011 – Authorized the Federal Government to grant economic subsidy to the Brazilian Development Bank (BNDES), in fi nancing operations channeled to working capital and investment of companies and individual micro-entrepreneurs located in municipalities of the State of Rio de Janeiro.

526, dated 3.4.2011 – Increased from R$134 billion to R$209 billion the limit of fi nancing operations with economic subsidy, under the modality of interest rate equalization, established by the Brazilian Development Bank (BNDES).

528, dated 3.25.2011 – Readjusted in 4.5% the monthly progressive table of the Income Tax, with retroactive effects on January 1, 2011, and determined that the table will be also readjusted in 4.5% for the fi scal years 2012, 2013 and 2014.

529, dated 4.7.2011 – Reduced from 11% to 5% of the monthly minimum wage, the rate of the social security contribution for the Small Individual Entrepreneur (MEI) – individual entrepreneur with annual gross income of up to R$36 thousand.

532, dated 4.28.2011 – Redefi ned the Law no. 9,478, dated August 6, 1997, aiming to recognize and include the biofuels as an essential energetic good for the country. Until then, biofuels had been considered as an agricultural product included in the energy matrix. Through this modifi cation, the National Council of Energetic Policy may establish guidelines for the import and export of biofuels, as it already takes place in the case of fuels derived from petroleum.

534, dated 5.20.2011 – Altered the Article 28 of Law no. 11,196, dated November 21, 2005, to include in the Digital Inclusion Program the tablet PC produced in the country, in compliance with the basic productive process established by the Executive Branch.

535, dated 6.2.2011 – Created the Environment Protection Supporting Program, in order to promote better life conditions and improve the income of the population living in poverty that carry out activities to protect the natural resources in the rural environment; and created the Rural Productive Activities Supporting Program, in order to stimulate the employment and income generation, and promote the food and nutritional safety of the benefi ciaries.

539, dated 7.26.2011 – Authorized the National Monetary Council, for purposes of exchange and monetary policy, to establish specifi c conditions to the negotiation of derivative contracts, regardless the nature of the investor; increased to 25% the maximum Financial Operation Tax (IOF) rate on operations related to securities involving derivative contracts.


540, dated 8.2.2011 – Created the Special System of Tax Return for Exporting Companies (Reintegra); provided for the reduction of the Industrialized Products Tax (IPI) to automotive industries; reduced to zero the rate of the employer contribution on the payroll of industries of textiles, footwear, furniture and software; increased to 300% the IPI rate on cigarettes; increased from 7.6% to 9.1% the rate of the Contribution to Social Security Financing (Cofi ns) – import on clothing, footwear and leather products, wood furniture, among other products.

541, dated 8.2.2011 – Authorized the Federal Government to participate with R$1 billion in the Export Financing Fund (FFEX) for the composition of its asset.

543, dated 8.24.2011 – Authorized the Federal Government to grant economic subsidy, limited to R$500 million per year, to fi nancial institutions under the modality of equalization of part of the costs underlying the contracting and following-up of guided productive microcredit operations.

544, dated 9.29.2011 – Established special rules for the purchases, the contracting of products, protection systems, and development of products and protection systems, and provided for rules of incentive to the strategic protection area. This Precautionary Measure does not exclude the control and restrictions to the import, export, manufacturing, trading and use of controlled products.

545, dated 9.29.2011 – Modifi ed the Law no. 10,893, dated July 13, 2004, which provides for the Additional charge on Freight (AFRMM) and the Merchant Navy Fund (FMM); modifi es the incidence of the Contribution to Social Integration Program (PIS)/Civil Service Asset Formation Program (Pasep) and the Contribution to Social Security Financing (Cofi ns) in the commodity chain of coffee, creates the Movies Near You Program and revokes the provisions mentioned.

546, dated 9.29.2011 – Provides for the fi nancial assistance offered by the Federal Government to the states, the Federal District and the municipalities, in the fi scal year 2011, aiming to promote the country’s exports, and altered the Law no. 12,409, dated May 25, 2011.

549, dated 11.17.2011 – Reduced to zero the rates of the Contribution to Social Integration Program (PIS)/Civil Service Asset Formation Program (Pasep) and the Contribution to Social Security Financing (Cofi ns) related to the import and the commercial revenue, in the domestic market, of some specifi c products targeted to disabled people.

551, dated 11.22.2011 – Reduced from 50% to 35.9% the additional airport tariff related to tariffs of boarding, landing, permanence and storing, and also eliminated its incidence on the tariffs of use of communication and assistance to the air navigation, so the corresponding values may be incorporated to the tariffs without altering the amount


paid by users – tariff re-composition that should occur simultaneously with the entry into force of these provisions, on January 10, 2012. The tax reduction resulting from this measure was estimated at R$614.4 million in 2012; R$701.5 million in 2013 and R$801 million in 2014.

552, dated 12.1.2011 – Increased from R$75 thousand to R$85 thousand the fi nancing limit of real properties included in the My House, My Life Program (PMCMV), for purposes of classifi cation in the Special Taxation Scheme (RET); reduced from 9.25% to zero, up to June 30, 2012, the rates of the Contribution to Social Integration Program (PIS)/Contribution to Social Security Financing (Cofi ns) related to pastas; and prorogated from 12.31.2011 to 12.31.2012, the total exemption of the PIS/Cofi ns related to wheat fl our and common wheat.

556, dated 12.23.2011 – Established the exemption of the Civil Servant Social Contribution (CSSP) in relation to the following benefi ts: extra for vacations; extra for night work; extra for off-hours work; extra for supplementary healthcare; extra for pre-schooling assistance; and extra paid to public servants appointed to integrate deliberative council or body.

Legislative Decrees

126, dated 3.17.2011 – Approved the wording Maritime Transportation Agreement between Brazil and the U.S., signed in Washington, on September 30, 2005.

129, dated 5.12.2011 – Approved the wording Reversal Notes between the Federative Republic of Brazil and the Republic of Paraguay, over the Financial Basis of the Annex C of the Itaipu Treaty, signed on September 1, 2009.

159, dated 7.14.2011 – Approved the wording of the Unasur Constitutive Treaty, signed in Brasilia, on May 23, 2008.

304, dated 10.4.2011 – Approved the wording of the Customs Mutual Assistance Agreement between Brazil and India, signed in New Delhi, on May 4, 2007.

Decrees

7,425, dated 1.5.2011 – Provided for the budgetary execution of Executive Branch, until the publication of the General Federal Government Budget.


7,439, dated 2.16.2011 – Authorized the increase of the social capital of the Brazilian Development Bank (BNDES), amounting to R$6,400 million, and the Federal Savings Bank, amounting to R$2,200 million.

7,444, dated 2.25.2011 – Provided for the fulfi llment, in national territory, of the Resolution no. 1,961, dated December 17, 2010, of the United Nations Security Council, which renovates the system of sanctions against Liberia.

7,445, dated 3.1.2011 – Provided for the fi nancial and budgetary program, established the monthly chronogram of disbursements of the Executive Branch for the fi scal year 2011 and adopted other measures.

7,446, dated 3.1.2011 – Established limits and procedures, in the scope of the Executive Branch, for government spending with daily lodging rates, tickets and transportation in the fi scal year 2011.

7,447, dated 3.1.2011 – Redefi ned the Article 19 of Decree no. 5,209, dated September 17, 2004, which regulated Law no. 10,836, dated January 9, 2004, that created the “Bolsa Família” Program. The modifi cation resulted in average readjustment of 19.4% in the program’s benefi ts.

7,450, dated 3.11.2011 – Provided for the fulfi llment, in national territory, of the Resolution no. 1,952, dated November 29, 2010, of the United Nations Security Council, which renovates the system of sanctions against the Democratic Republic of Congo.

7,451, dated 3.11.2011 – Regulated the Special Regime for Brazilian Aeronautical Industry (Retaero), established by the Articles 29 and 33 of the Law no. 12,249, dated June 11, 2010.

7,454, dated 3.25.2011 – Increased from 2.38% to 6.38% the Financial Operation Tax (IOF) rate on the sales of goods and services abroad, with credit card.

7,455, dated 3.25.2011 – Increased the Industrialized Products Tax (IPI) rate on cold beverages.

7,456, dated 3.28.2011 – Fixed at 6% the Financial Operations Tax (IOF) rate in the settlement of exchange operations contracted since March 29, 2011, for infl ow of resources, even by means of simultaneous operations, related to foreign loan, subjected to registration in the Central Bank of Brazil, directly contracted of through issue of securities in the international market, with minimum medium-term of up to 360 days.

7,457, dated 4.6.2011 – Determined that the rate of 6% with impact on contracted operations, since April 7, 2011, for fund infl ows to the country, related to foreign loan,


will include operations with minimum medium-term of up to 720 days. According to the Decree no. 7,456, dated 3.28.2011, only operations with minimum medium-term of up to 360 days were subjected to this rate.

7,458, dated 4.7.2011 – Increased from 1.5% to 3% the aliquot on credit operations with individuals (except property fi nancings).

7,460, dated 4.14.2011 – Provided for the fulfi llment, in national territory, of the Resolution no. 1,970/2011, of the United Nations Security Council, which establishes a regime of sanctions to Libyan Arab Jamahiriya and determines, among other measures, arms embargo, report about the situation of the country to the International Criminal Court, prohibition of travels and freeze funds of individuals specifi cally designated.

7,468, dated 4.28.2011 – Kept the validity, after April 30, 2011, of the unprocessed accounts payable from expenditures registered in the fi scal years 2007, 2008 and 2009, which fulfi ll the conditions established in this decree.

7,477, dated 5.10.2011 – Modifi ed the annexes of the Decree no. 7,445, dated March 1, 2011, which provides for the fi nancial and budgetary program of the Federal Budget.

7,479, dated 5.16.2011 – Provided for the fulfi llment, in national territory, of the Resolution no. 1,928, dated June 7, 2010, of the United Nations Security Council, which prorogated the order of the Expert Panel established to give support to the Democratic People’s Republic of Korea (DPRK).

7,487, dated 5.23.2011 – Extended the Financial Operations Tax (IOF) zero rate to the operations with Agribusiness Credit Rights Certifi cate (CDCA), Agribusiness Credit Note (LCA), Agribusiness Receivable Certifi cate (CRA), Certifi cate of Real Estate Receivables (CRI) and Financial Notes issued by fi nancial institutions.

7,491, dated 6.2.2011 – Promulgated the General Agreement on Cooperation between Brazil and Saudi Arabia, signed in Riade, on May 16, 2009.

7,492, dated 6.2.2011 – Created the Brazil without Misery Plan, to be executed by the Federal Government, in collaboration with the States, the Federal District, Municipalities and the society, in order to overcome the situation of the population in extreme poverty within the entire national territory.

7,494, dated 6.2.2011 – Increased, from three to fi ve, the number of up to 15-years children, whose presence in the family gives the opportunity to receive variable fi nancial benefi ts from the “Bolsa Família” Program.


7,502, dated 6.24.2011 – Provided for the execution of the Eightieth Additional Protocol to the Economic Supplementary Agreement no. 18, signed between Argentina, Brazil, Paraguay and Uruguay, on February 18, 2011.

7,506, dated 6.27.2011 – Promulgated the Agreement by Reversal Notes between the Federative Republic of Brazil and the Republic of Paraguay, over the Financial Basis of the Annex C of the Itaipu Treaty, signed on September 1, 2009.

7,532, dated 7.21.2011 – Promulgated the Fifth and Sixth Amendments to the Articles of Agreement of the International Monetary Fund.

7,533, dated 7.21.2011 – Provided for the payment in advance, in August, of the annual bonus due to insured and dependents of the Social Security, in 2011.

7,534, dated 7.21.2011 – Updated the estimated income for 2011 and established a new chronogram of disbursements of the Executive Branch, supported by the Federal Budget.

7,536, dated 7.26.2011 – Established the aliquot of 6% of the Financial Operations Tax (IOF), on loans received abroad, with maturity higher than 720 days and previously settled.

7,539, dated 8.2.2011 – Modifi ed the Decree no. 5,563, dated October 11, 2005, which provided for the incentives to the innovation and the technological and scientifi c research.

7,540, dated 8.2.2011 – Created the Greater Brazil Plan, whose main objective is to accelerate the growth of the productive investment and the technological and innovative effort of national companies, and increase the competitiveness of national goods and services.

7,541, dated 8.2.2011 – Prorogated, up to December 31, 2012, the exemption of the Industrialized Products Tax (IPI) on trucks and light vehicles.

7,542, dated 8.2.2011 – Prorogated, up to December 31, 2012, the exemption of the Industrialized Products Tax (IPI) on construction materials.

7,543, dated 8.2.2011 – Prorogated, up to December 31, 2012, the exemption of the Industrialized Products Tax (IPI) on capital goods.

7,544, dated 8.2.2011 – Provided for the relationships between federal institutions of higher education and scientifi c and technological research, and the supporting foundations.


7,545, dated 8.2,2011 – Enacted the Convention on Temporary Admission (the Istanbul Convention), held on June 26, 1990, being supported by the World Customs Organization, the text of its Annex A, with reserve, and Annexes B.1, B.2, B.5 and B.6.

7,546, dated 8.2.2011 – Created the Public Purchases Inter-ministerial Commission.

7,555, dated 8.19.2011 – Regulated the Articles 14 and 20 of the Provisional Measure no. 540, dated August 2, 2011, which provides for the impact of the Industrialized Products Tax (IPI) on the domestic market and import of cigarettes.

7,563, dated 9.15.2011 – Modifi ed the Decree no. 6,306, dated December 14, 2007, which regulated the Financial Operations Tax (IOF).

7,567, dated 9.15.2011 – Increased at 30 p.p. the aliquots of the Industrialized Products Tax (IPI) with impact on the import of vehicles, except those coming from Mexico and Mercosur.

7,568, dated 9.16.2011 – Modifi ed the Decree no. 6,170, dated July 25, 2007, which provides for the rules related to transfer of federal funds, by means of transfer agreements, and adopted other measures.

7,570, dated 9.26.2011 – Reduced from R$230.00 to R$192.60 the aliquot of the Contribution on Intervention in the Economic Domain (Cide), with impact on the cubic meter of gasoline.

7,575, dated 9.29.2011 – Modifi ed the Annexes of the Decree no. 7,445, dated March 1, 2011, which provides for the budgetary and fi nancial program and established the monthly chronogram of disbursement of the Executive Branch for the fi scal year 2011.

7,591, dated 10.28.2011 – Reduced the aliquots with impact on the cubic meter of gasoline (from R$192.60 to R$91.00) and diesel (from R$70.00 to R$47.00).

7,593, dated 10.28.2011 – Prorogated, from December 1, 2011 to May 1, 2012, the readjustment of the IPI on the prices of cigarettes.

7,599, dated 11.7.2011 – Enacted the International Cocoa Agreement, signed by the Brazilian government in Rio de Janeiro, on September 14, 1964.

7,604, dated 11.10.2011 – Modifi ed the Decree no. 7,567, dated September 15, 2011, which regulates the Article 5 and 6 of the Provisional Measure no. 540, dated August 2, 2011, which establishes the Special System of Tax Return for Exporting Companies (Reintegra); provides for the reduction of the Industrialized Products Tax (IPI) to the


automotive industry, and modifi es the impact of the social security contributions owed by the companies that mentions.

7,619, dated 11.21.2011 – Regulated the granting of credit deemed from the Industrialized Products Tax (IPI) in the acquisition of waste materials.

7,622, dated 11.22.2011 – Modifi ed the fi nancial and budgetary program and established the monthly chronogram of disbursement of the Executive Branch, for the fi scal year 2011.

7,623, dated 11.22.2011 – Regulated the Law no. 12,097, dated November 24, 2009, which provides for the application of the traceability in the commodity chain of beef and buffalo meat.

7,624, dated 11.22.2011 – Provides for the conditions of exploration by the private initiative of the airport infrastructure, by means of concession.

7,631, dated 12.1.2011 – Reduced the aliquots of the Industrialized Products Tax (IPI), with impact on the following products: stoves, from 4% to zero; refrigerators, from 15% to 5%; washing machines (automatic and semi-automatic), from 20% to 10%; washboards, from 10% to zero; synthetic paper for printing books and newspapers, from 15% to zero; and steel wool, from 10% to 5%.

7,632, dated 12.1.2011 – Reduced the aliquots of the Financial Operations Tax (IOF) with impact on the following operations: credit operations with individuals, from 3% p.y. to 2.5% p.y.; foreign investment in shares, from 3% to zero; venture capital, from 2% to zero; cancellation of receipts of shares traded by Brazilian companies abroad, from 2% to zero; non-residents investments in long-term private securities, with validity of up to 4 years, from 6% to zero.

7,633, dated 12.1.2011 – Regulated the Special System of Tax Return for Exporting Companies (Reintegra), established by the Provisional Measure no. 540, dated August 2, 2011.

7,653, dated 12.23.2011 – Authorized the increase of the capital stock of the Brazilian Development Bank (BNDES) and the Federal Saving Bank.

7,655, dated 12.23.2011 – Set in R$622.00 the minimum wage, which came into force on January 1, 2012.

7,658, dated 12.23.2011 – Provided for the Sixty Ninth Protocol Additional to the Economic Complementary Agreement no. 2 (69PA-ACE2), signed between Brazil and Uruguay, on August 24, 2011, regarding the automotive sector.


7,760, dated 12.23.2011 – Approved the Industrialized Products Tax Table (Tipi), coming into force since January 1, 2012, and revoked the rules that mentions.

National Monetary Council Resolutions

3,941, dated 1.17.2011 – Modifi ed the Article 1 of the Resolution no. 3,912, dated October 7, 2010.

3,942, dated 1.21.2011 – Modifi ed the Resolution no. 3,759, dated July 9, 2009, to establish conditions for the contracting of fi nancings destined for working capital and investment of companies and individual micro-entrepreneurs, located in municipalities of the State of Rio de Janeiro, which determined state of emergency or public calamity.

3,943, dated 1.27.2011 – Provided for the maturity of contracting of backed trade operations in resources of the Coffee Economy Defense Fund (Funcafé), and fi nancings with resources of that fund destined for the recovery of the coffee plantations reached by hailstorms.

3,944, dated 1.27.2011 – Provided for the conditions for the renegotiations in which are focused the Articles 7 and 7-A, of the Law no. 11,775, dated September 17, with redaction given by the Law no. 12,380, dated January 10, 2011, and modifi ed the Resolutions no. 3,575 and no. 3,578, both dated May 29, 2008.

3,945, dated 1.27.2011 – Modifi ed the provisions of the Rural Credit Manual (MCR) related to the Price Guarantee Program for Family Agriculture (PGPAF).

3,946, dated 1.27.2011 – Modifi ed the volume and the source of funds of the special credit line for supporting family farms of the State of Mato Grosso reached by burnings without control.

3,947, dated 1.27.2011 – Provided for the formula to calculate the weighed medium-term and simplifi ed procedure foreseen in the paragraph 1 of the Article 1 of the Provisional Measure no. 517, dated December 30, 2010.

3,948, dated 2.11.2011 – Exempted the payment of interest for purposes of renegotiation, considered in the Section 1 of the Chapter 13 of the Rural Credit Manual (MCR), in favor of farmers affected by the rains in the State of Rio de Janeiro.

3,949, dated 2.11.2011 – Established an emergency credit line for fi nancing the family production units classifi ed in the National Program for Strengthening Family Agriculture (Pronaf), authorized the contracting of investment operations to give support to the Special Line of Credit for Investment in Food Production, and exempted the payment


of interest for purposes of renegotiation, considered in the Section 5 of the Chapter 10 of the Rural Credit Manual (MCR) ), in favor of farmers affected by the rains in the State of Rio de Janeiro.

3,950, dated 2.24.2011 – Provided for the deadlines for application of the Articles 3 and 4 of the Law no. 11,775, dated September 17, 2008.

3,951, dated 2.24.2011 – Extended the periods of formalization of the debt composition of horticulturists, their cooperatives and companies, and of the contracting of the emergency line destined for family farms affected by the drought in the semiarid region of the States of the Northeast and Minas Gerais.

3,952, dated 2.24.2011 – Authorized the prorogation of maturity of the Federal Government Loans (EGF) of rice.

3,953, dated 2.24.2011 – Modifi ed conditions of the Highway Interventions Program (Provias) for those municipalities that declared state of public calamity, according to the State Decrees of Rio de Janeiro no. 42,796, 42,797, 42,801, 42,802, 42,803, 42,804 and 42,805, all dated January 14, 2011, and adopted other measures.

3,954, dated 2.24.2011 – Modifi ed and consolidated the rules that provided for the contracting of correspondents in the country.

3,955, dated 3.10.2011 – Extended the limit, altered the distribution of funds and modifi ed conditions for the granting of fi nancings described in the Resolution no. 3,759, dated July 9, 2009, which establishes conditions for the granting of fi nancings supported by economic subvention of the Federal Government, channeled for the acquisition and production of capital goods and technological innovation.

3,956, dated 3.29.2011 – Revoked the Resolution no. 1,857, dated August 15, 1991.

3,957, dated 3.30.2011 – Defi ned the Long-Term Interest Rate (TJLP) for the second quarter of 2011.

3,958, dated 3.31.2011 – Extended limits for the contracting of credit operations targeted to the execution of environmental sanitation and pavement actions, chosen for the Growth Acceleration Program (PAC).

3,959, dated 3.31.2011 – Modifi ed the Resolution no. 3,954, dated February 24, 2011, which provides for the contracting of correspondents in the country.

3,960, dated 3.31.2011 – Changed the limit of enforceability for mandatory funds (Rural Credit Manual – MCR 6-2-9 “a”) for the period of compliance 2010/2011.


3,961, dated 3.31.2011 – Provided for the establishment of the additional aliquot of the Farm Activity Guarantee Program (Proagro) for purposes of classifi cation of agricultural fi nancing operations for the production of pineapple, açaí and black pepper.

3,962, dated 3.31.2011 – Changed the factor to weigh the enforceability of the rural savings (Rural Credit Manual – MCR 6-4) for the period of compliance 2010/2011.

3,963, dated 3.31.2011 – Provided for the assessment of the expansion limit for clients, included in the Resolution no. 2,844, dated June 29, 2001, by the Brazilian Development Bank (BNDES).

3,964, dated 3.31.2011 – Increased the credit limit for family farms, in operations supporting the investment line for the National Program for Strengthening Family Agriculture (Pronaf).

3,965, dated 3.31.2011 – Modifi ed the Resolution no. 2,524, dated July 30, 1998, which establishes rules for declaration of portage and transportation of foreign and national currency.

3,966, dated 3.31.2011 – Established an extraordinary credit line with resources of the Coffee Economy Defense Fund (Funcafé), targeted to the debt composition of rural producers, resulting from fi nancings granted for coffee production.

3,967, dated 4.4.2011 – Modifi ed the Resolution no. 3,844, dated March 23, 2010, which provides for the foreign stock in the country and its registration in the Central Bank of Brazil.

3,968, dated 4.28.2011 – Provided for the granting of funds of the Funcafé and prorogated the deadline for the unifi cation of the fi nancings and raisings with resources of these fund.

3,969, dated 4.28.2011 – Established new deadline for the contract of emergency credit line targeted to rice farmers of Rio Grande do Sul, in the scope of the Program of Incentive to Sustainable Farm Production (Produsa), included in the Rural Credit Manual – MCR 13-8-3.

3,970, dated 4.28.2011 – Excluded the mandatory minimum payment of 20% of what is owed, in order to prorogate the maturity of the Federal Government Loans operations (EGF), of the rice harvest 2009/2010, contracted in the States of Rio Grande do Sul and Santa Catarina.


3,971, dated 4.28.2011 – Modifi ed the subsection XI of the Article 9-N of the Resolution no. 2,827, dated March 30,2001, and established new deadline for the granting of loans, by federal fi nancial institutions to the States and the Federal District.

3,972, dated 4.28.2011 – Provided for the devolution of check and cancellation of payment.

3,973, dated 5.26.2011 – Provided for procedures applicable to the accounting and publication of events subsequent to the reference period of the annual accounting reports.

3,974, dated 5.27.2011 – Transferred funds from the Program of Cooperative Development for Aggregating Value to Crop/Livestock Production (Prodeccop) to the Capitalization Program of Farm Cooperatives (Procap-Agro), for application in the harvest 2010/2011.

3,975, dated 5.27.2011 – Authorized credit provided by the Coffee Economy Defense Fund (Funcafé), targeted to fi nance the recovery of coffee plantations affected by hailstorms since October 1, 2010, to May 31, 2011, observing the general fi nancing conditions with resources of this fund.

3,976, dated 5.27.2011 – Increased the amount of funds authorized for the contracting of new credit operations targeted to the Electricity Transmission and Generation Program, in compliance with the Resolution no. 2,827, dated March 30, 2011.

3,977, dated 5.31.2011 – Changed rules of the National Program for Strengthening Family Agriculture (Pronaf).

3,978, dated 5.31.2011 – Provided for adjustments in rules of fi nancing, investment and trading with funds provided by rural credit, since the harvest 2011/2012.

3,979, dated 5.31.2011 – Provided for agricultural investment programs supported by the Brazilian Development Bank (BNDES).

3,980, dated 5.31.2011 – Associated the contracting of the fi nancing lines Procopa and Urban Mobility for the 2014 FIFA World Cup to the actions included in the Responsibility Matrix.

3,981, dated 6.1.2011 – Determined the retirement of bills considered inadequate to circulate, in view of the damage supposedly caused by anti-theft device.

3,982, dated 6.20.2011 – Modifi ed the paragraph “b”, subsection III, Article 8 of the Resolution no. 2,238, dated January 31, 1996, which regulates the conditions and


procedures targeted to formalize the operations to extend debts from rural credit, included in the Law no. 9,138, dated November 29, 1995.

3,983, dated 6.29.2011 – Defi ned the Long-Term Interest Rate (TJLP) for the third quarter of 2011.

3,984, dated 7.1.2011 – Modifi ed rules of the National Program for Strengthening Family Agriculture (Pronaf).

3,985, dated 6.30.2011 – Modifi ed conditions to contract rural credit operations targeted to the fi shing and aquaculture.

3,986, dated 6.30.2011 – Modifi ed conditions for fi nancing operations, trading, Federal Government Loans (EGF), Special Trade Credit Line (LEC), programs of the Brazilian Developing Bank (BNDES), Program for Modernization of Agriculture and Conservation of Natural Resources (Moderagro), Capitalization Program of Farm Cooperatives (Procap-Agro) and Program of Cooperative Development for Aggregating Value to Crop/Livestock Production (Prodecoop).

3,987, dated 6.30.2011 – Consolidated conditions for fi nancings granted by the National Program for Support of the Medium Rural Producer (Pronamp).

3,988, dated 6.30.2011 – Provided for the implementation of structure to improve capital management.

3,989, dated 6.30.2011 – Established criteria and conditions to assess, recognize and publish the transactions with payment based on actions carried out by fi nancial institutions and other institutions authorized to operate by the Central Bank of Brazil.

3,990, dated 6.30.2011 – Modifi ed the conditions established in the Rural Credit Manual (MCR) 10-15 for the Price Guaranty Program for Family Agriculture (PGPAF).

3,991, dated 6.30.2011 – Set the infl ation target and its tolerance interval for 2013.

3,992, dated 7.14.2011 – Authorized the renegotiation of investment operations, funding and Federal Government Loans (EGF) contracted by rice farmers and pig farmers, and concession of Special Trade Credit Line (LEC) for pig production.

3,993, dated 7.14.2011 – Authorized the renegotiation of rural investment operations, maturing in 2011, contracted by rice farmers and pig farmers supported by the Brazilian Development Bank (BNDES), in the scope of the Investment Support Program (PSI).


3,994, dated 7.14.2011 – Modifi ed the provisions of the National Program for Strengthening Family Agriculture (Pronaf).

3,995, dated 7.28.2011 – Provided for credit lines targeted to fi nancings supported by the Coffee Economy Defense Fund (Funcafé), and created the fi nancing line of working capital for industries of instant coffee.

3,996, dated 7.28.2011 – Defi ned weighing factors for purposes of compliance with the enforceability, based on demand deposits (Rural Credit Manual – MCR 6-2), modifi ed the percentages of the enforceability and faculty of application with funds of the MCR 6-2, and carried out other adjustments in the MCR.

3,997, dated 7.28.2011 – Modifi ed the Resolution no. 3,568, dated May 29, 2008, which provides for the exchange market, and adopted other measures.

3,998, dated 7.28.2011 – Provided for the registration of operations of credit granting and leasing, in systems of registration and fi nancial settlement of assets amortized by the Central Bank of Brazil.

3,999, dated 8.11.2011 – Authorized the renegotiation of funding and investment operations, maturing in 2011, contracted in the scope of the National Program for Strengthening Family Agriculture (Pronaf).

4,000, dated 8.25.2011 – Modifi ed and consolidated the rules that provide for microcredit operations targeted to population with low incomes and micro-entrepreneurs.

4,001, dated 8.25.2011 – Modifi ed conditions to contract operations of credit, investment and trading, and renegotiate those operations, in compliance with the Resolution no. 3,992, dated July 14, 2011.

4,002, dated 8.25.2011 – Authorized the Central Bank of Brazil to carry out operation of Rediscount of the Central Bank, in purchases with resale agreements, intraday, with fi nancial institutions holders of Settlement Account, and adopted other measures.

4,003, dated 8.25.2011 – Modifi ed the Resolution no. 3,605, dated August 29, 2008, regarding the accounting classifi cation of funds by fi nancial institutions and other institutions authorized to operate by the Central Bank of Brazil.

4,004, dated 8.25.2011 – Updated the deadline to contract credit operations included in the Fiscal Adjustment Programs of States (PAF), up to December 31, 2011.

4,005, dated 8.25.2011 – Modifi ed the Article 9-J of the Resolution no. 2,827, dated March 30, 2001, prorogating the deadline to contract credit operations, in the scope of the “Caminho da Escola” Program.


4,006, dated 8.25.2011 – Modifi ed the conditions for the presentation of documents which prove agrarian regularity, according to the Rural Credit Manual (MCR) 2-1-18.

4,007, dated 8.25.2011 – Provided for the accounting registration and presentation of accounting policies, estimative change and rectifi cations of errors.

4.008, dated 9.14.2011 – Provides for fi nancing granted by the National Fund on Climate Change (FNMC).

4.009, dated 9.14.2011 – Modifi ed the Resolution no. 3,759, dated July 9, 2009, to extend deadline to contract operations, allocate limits to receive federal economic subsidy in fi nancing granted by the Brazilian Development Bank (BNDES) and the Financing Company of Studies and Projects (Finep), improve the relation of benefi ciaries of these operations, among other changes.

4,010, dated 9.14.2011 – Established conditions for credit line with federal economic subsidy, to fi nance companies of the sectors of ornamental stones, timber processing, leather processing, footwear and leather, textile and confection equipments, even home line, wood furniture, fruit (natural and processed), ceramics, software and rendering of information technology services, auto parts and capital goods (except for automotive vehicle to transport cargo and passengers, ships, airplanes, freight cars and railway and subway trains, tractors, harvesters and highway machinery).

4,011, dated 9.21.2011 – Modifi ed Resolution no. 3,759, dated July 9, 2009, to establish conditions for the granting of loans subjected to federal economic subsidy, targeted to working capital and investment by limited companies, individual entrepreneurs and individuals or legal persons, considered as rural producers, located in Municipalities of Federative States affected by natural disasters and protected by state decree providing for state of emergency or public calamity, recognized by the Federal Executive Branch.

4,012, dated 9.29.2011 – Defi ned the Long-Term Interest Rate (TJLP) for the fourth quarter of 2011.

4,013, dated 9.29.2011 – Adjusted the General Provisions (Rural Credit Manual – MCR 10-1) of the National Program for Strengthening Family Agriculture (Pronaf) and the Special Line of Credit for Investment in Food Production (MCR 10-18).

4,014, dated 9.29.2011 – Modifi ed provisions of lines of credit supported by the Coffee Economy Defense Fund (Funcafé).

4,015, dated 9.29.2011 – Added the Article 9-X to the Resolution no. 2,827, dated March 30, 2001, authorizing the contracting of new credit operation targeted to


Modernization of the General and Patrimonial Administration of Public Defender’s Offi ce of the Federal District and States.

4,016, dated 9.29.2011 – Updated provisions of the Rural Credit Manual (MCR) related to the Farm Activity Guarantee Program (Proagro).

4,017, dated 9.29.2011 – Updated the Rural Credit Manual (MCR) in relation to specifi c rules of Proagro Mais.

4,018, dated 9.29.2011 – Modifi ed the Resolution no. 3,263, dated February 24, 2005, which provides for the agreements of compensation and settlement of liabilities, in the scope of the National Financial System.

4,019, dated 9.29.2011 – Provided for prudential and preventive measures to ensure the solidity, stability and regular functioning of the National Financial System.

4,020, dated 9.30.2011 – Modifi ed the Resolution no. 2,859, dated May 27, 2010, which provided for the constitution and functioning of credit cooperatives.

4,021, dated 9.30.2011 – Regulated the charge of tariffs by the rendering of services related to manual exchange operations, for the purchase or sale of foreign currency associated to international trips, and established the mandatory information of the Total Effective Value (VET) in the cash operations.

4,022, dated 10.13.2011 – Modifi ed the Resolution no. 3,759, dated July 9, 2009, to redistribute funds and establish conditions for the granting of fi nancing subjected to federal economic subsidy to the Brazilian Development Bank (BNDES), targeted to working capital and investment by limited companies, individual entrepreneurs and individuals or legal persons, considered as rural producers, located in municipalities affected by natural disasters and protected by state decree providing for state of emergency or public calamity, recognized by the Federal Executive Branch, in compliance with the Law no. 12,340, dated December 1, 2010.

4,023, dated 10.27.2011 – Modifi ed the Resolution no. 2,828, dated March 30, 2001, which provides for the constitution and functioning of development agencies.

4,024, dated 10.27.2011 – Adjusted the conditions for the contracting of investment rural credit operations.

4,025, dated 10.27.2011 – Modifi ed the conditions of the Capitalization Program of Farm Cooperatives (Procap-Agro) and the Program of Cooperative Development for Aggregating Value to Crop/Livestock Production (Prodeccop).


4,026, dated 10.27.2011 – Modifi ed the regulation attached to the Resolution no. 3,308, dated August 31, 2005, which provides for the application of resources from reserves and funds from insurance companies, capitalized saving companies and open entities of complementary social security, as well as the approval of the corresponding assets, as guarantors of their respective funds, in compliance with the legislation and regulation.

4,027, dated 10.27.2011 – Modifi ed the Article 9-M of the Resolution no. 2,827, dated March 30, 2001, which consolidated and redefi ned the rules for the contingency of the credit of the public sector.

4,028, dated 11.18.2011 – Authorized the debt composition and the renegotiation of rural credit operations, in the scope of the National Program for Strengthening Family Agriculture (Pronaf).

4,029, dated 11.18.2011 – Authorized the renegotiation of agrarian credit operations, supported by the Agrarian Reform and Lands Fund, including the operations of the Land Credit Program contracted in the scope of the Loan Agreement no. 4,147-BR.

4,030, dated 11.18.2011 – Authorized the renegotiation of the operations supported by the Line of Credit for the Group “B” (Rural Production Microcredit), in the scope of the National Program for Strengthening Family Agriculture (Pronaf).

4,031, dated 11.18.2011 – Authorized the renegotiation of the operations supported by the Lines of Credit for the Groups “A” and “A/C” of the National Program for Strengthening Family Agriculture (Pronaf).

4,032, dated 11.30.2011 – Provided for adjustments in the fi nancing conditions to trade agricultural products.

4,033, dated 11.30.2011 – Provided for the application abroad of the availability, in foreign currency, of banks authorized to operate in the exchange market and in the foreign fundraising for specifi c purposes.

4,034, dated 11.30.2011 – Modifi ed the redaction of the Articles 2 and 4 of the Resolution no. 3,284, dated May 25, 2005, and 1 of the Resolution no. 2,423, dated September, 1997, among other measures.

4,035, dated 11.30.2011 – Modifi ed the Resolution no. 3,954, dated February 24, 2011, which provides for the contracting of correspondents in the country.

4.036, dated 11.30.2011 – Authorized the deferral of the negative net result, resulting from renegotiation of credit operation previously granted.


4,037, dated 12.15.2011 – Defi ned the Long-Term Interest Rate (TJLP) for the fi rst quarter of 2012.

4,038, dated 12.15.2011 – Provided for the remuneration of fi nancial institutions and resources of the Lands Fund and Agrarian Reform.

4,039, dated 12.15.2011 – Modifi ed the Article 1 of the Resolution no. 3,912, dated October 7, 2010.

4,040, dated 12.15.2011 – Modifi ed the Resolution no. 3,339, dated January 26, 2006, which regulated the repo transactions that involve fi xed income bonds.

4,041, dated 12.16.2011 – Authorized the renegotiation of installments maturing in 2011 from the rural investment operations contracted by rice farmers and pig farmers, with funds administered by the Brazilian Development Bank (BNDES), in the scope of the Investment Support Program (PSI).

4,042, dated 12.15.2011 – Modifi ed the Resolution no. 3,954, dated February 24, 2011, which provided for the contracting of correspondents in the country.

4,043, dated 12.15.2011 – Modifi ed the Article 13 of the Resolution no. 2,238, dated January 31, 1996, and adopted other measures.

4,044, dated 12.15.2011 – Modifi ed conditions for the granting of agribusiness credit, targeted to the industrialization of sugar cane in the Amazon Rainforest, the Pantanal and the Upper Paraguay River Basin, among other areas.

4,045, dated 12.29.2011 – Modifi ed the redaction of the caput of the Article 9-K of the Resolution no. 2,827, dated March 30, 2001, which provides for the contracting of credit operations in the scope of the Provias.

Foreign Trade Council Resolutions

2, dated 1.19.2011 – Excluded the code Common Mercosur Nomenclature (NCM) no. 2917.36.00, related to the pure terephthalic acid-PTA, from the List of Exceptions to the Common External Tariff (TEC), and temporarily reduced the aliquot of the Import Tax for that code, according to the quota established due to shortages – Common Market Group Resolution (GMC) no. 69-2000.

3, dated 2.16.2011 – Changed to 2%, up to June 30, 2012, the ad valorem aliquots of the Import Tax with impact on the Telecommunication and Informatics Goods, as well as on the components of the Integrated Systems that relates.


4, dated 2.16.2011 – Changed to 2%, up to June 30, 2012, the ad valorem aliquots of the Import Tax with impact on the Capital Goods, as well as on the components of the Integrated Systems that relates and modifi es the tariff exceptions included in the resolutions that mentions.

6, dated 2.16.2011 – Instituted, in the scope of the Management Executive Committee of the Camex (Gecex), the Coordination Group Mercosur – European Union, in order to examine and suggest the Brazilian position in the bi-regional negotiating process.

7, dated 2.16.2011 – Modifi ed the Brazilian List of Exceptions to the Common External Tariff (TEC).

8, dated 2.28.2011 – Applied defi nitive antidumping right, as fi xed specifi c aliquot, to the Brazilian imports of table objects, glass objects from Argentina, Indonesia and China, commonly classifi ed in the item Common Mercosur Nomenclature (NCM) no. 7013.49.00, for up to 5 years, in the following amounts: US$0.18/kg for the company that mentions; US$0.37/kg for other Argentinean producers; US$0.15/kg for imports from Indonesia and US$1.70/kg for imports from China.

9, dated 3.14.2011 – Modifi ed the Common Mercosur Nomenclature (NCM) and the aliquots of the Tax Import included in the Common External Tariff (TEC), regulated by the Annex 1 of the Camex Resolution no. 43, dated December 22, 2006.

10, dated 3.14.2011 – Created, in the scope of the Management Executive Committee of the Camex (Gecex), the Technical Monitoring Group of the Common Market Group Resolution (GMC) no. 8, dated June 30, 2008 (GTAR-08), aiming to examine proposals of temporary reduction of the Common External Tariff (TEC), exceptionally, to guarantee the regular supply and fl ow of products in the Mercosur.

11, dated 3.14.2011 – Changed to 2%, up to June 30, 2012, the ad valorem aliquots of the Import Tax with impact on the Telecommunication and Informatics Goods, as well as on the components of the Integrated Systems mentioned.

12, dated 3.14.2011 – Changed to 2%, up to June 30, 2012, the ad valorem aliquots of the Import Tax with impact on the Capital Goods, as well as on the components of the Integrated Systems that relates and modifi es the tariff exceptions included in the resolutions that mentions.

13, dated 3.14.2011 – Modifi ed the paragraph 2 of the Article 1 of the Resolution no. 70, dated September 14, 2010, providing for the quota distribution of cotton, not carded or combed (codes Common Mercosur Nomenclature – NCM no. 5201.00.20 and 5201.00.90) for industries of the textile segment, for use in the industrial process, and exporter commercial companies, and modifi ed the redaction of the “Ex” 001 of the


code NCM no. 8716.40.00, contained in the Camex Resolution no. 7, dated February 17, 2011, to include semi-trucks.

14, dated 3.14.2011 – Increased to 35%, up to December 31, 2011, the aliquots of the Import Tax that compose the Common External Tariff (TEC), included in the Annex 1 of the Resolution no. 43, dated December 22, 2006, for the codes Common Mercosur Nomenclature (NCM) no. 2008.70.10 and NCM no. 2008.70.90.

15, dated 3.17.2011 – Determined that the Brazilian offi cial support to the export of civil airplanes, granted by means of fi nancing or refi nancing, credit insurance, interest rate equalization or any combination of these modes, should observe the terms, conditions and procedures stipulated in the new Aircraft Sector Understanding, of the Organization for Economic Co-operation and Development (OCDE), agreed between its participants in February, 2011.

16, dated 3.17.2011 – Modifi ed the Articles 1 and 2 of the Resolution no 86, dated December 9, 2010, which applied defi nitive antidumping right, for a deadline of up to fi ve years, to Brazilian imports of polypropylene, homopolymer and copolymer resin, coming from the U.S., commonly classifi ed in the items Common Mercosur Nomenclature (NCM) no. 3902.10.20 and 3902.30.00, respectively, to be collected as ad valorem aliquot, in compliance with the specifi cation.

18, dated 3.21.2011 – Excluded the code Common Mercosur Nomenclature (NCM) no. 4810.13.90, from the List of Exceptions to the Common External Tariff (TEC), included in the Annex II of the Resolution no. 43, dated December 22, 2006, and created the “Ex” 001 in the code mentioned, with ad valorem aliquot of the Import Tax of 2%, for a period of 12 months, according to the determined quota.

19, dated 4.7.2011 – Applied provisional antidumping right, for a deadline of up to six months, to the Brazilian imports of n-Butanol, from the U.S., commonly classifi ed in the item Common Mercosur Nomenclature (NCM) no. 2905.13.00, to be paid as fi xed specifi c aliquot, amounting US$127.53/t for the Basf Corporation; US$125.74/t for the Oxea Corporation; US$236.93/t for the Eastman Chemical Company; and US$244.91/t for the other producers/exporters.

20, dated 4.7.2011 – Applied defi nitive antidumping right, for a deadline of up to fi ve years, to the Brazilian imports of viscose meshes, with or without spandex, from the People’s Republic of China, commonly classifi ed in the items Common Mercosur Nomenclature (NCM) no. 6004.10.41, 6004.10.42, 6004.10.43, 6004.10.44, 6004.90.40, 6006.41.00, 6006.42.00, 6006.43.00 and 6006.44.00, to be paid as fi xed specifi c aliquot, amounting to US$4.10/kg.


21, dated 4.7.2011 – Provided for the Incoterms and established the acceptance, in Brazilian exports and imports, of any sale condition practiced in the international trade, only if compatible with the national judicial system.

23, dated 4.7.2011 – Changed to 2%, up to June 30, 2012, the ad valorem aliquots of the Import Tax with impact on the Capital Goods, as well as on the components of the Integrated Systems that relates; and modifi ed the Resolution that relates.

24, dated 4.7.2011 – Applied defi nitive antidumping right, for a deadline of up to fi ve years, to the Brazilian imports of viscose meshes, with or without spandex, from the People’s Republic of China, commonly classifi ed in the items Common Mercosur Nomenclature (NCM) no. 6004.10.41, 6004.10.42, 6004.10.43, 6004.10.44, 6004.90.40, 6006.41.00, 6006.42.00, 6006.43.00 and 6006.44.00, to be paid as fi xed specifi c aliquot, amounting to US$4.10/kg.

25, dated 5.5.2011 – Revoked the subsection IV of the Article 2 of the Resolution no. 63, dated August 17, 2010, related to practices that frustrate the effectiveness of the application of commercial protection measures.

26, dated 5.5.2011 – Modifi ed the Article 3 of the Resolution no. 80, dated November 9, 2010, which provides for the rules of origin applied in non-preferential instruments of commercial policy.

27, dated 5.5.2011 – Modifi ed the § 1 of the Article 1 of the Resolution no. 70, dated September 14, 2010, in relation to the reduction of the quota established for operations with cotton.

28, dated 5.5.2011 – Changed to 2%, up to June 30, 2012, the ad valorem aliquots of the Import Tax with impact on the Telecommunication and Informatics Goods that relates, in the condition of tariff exception.

29, dated 5.5.2011 – Changed to 2%, up to June 30, 2012, the ad valorem aliquots of the Import Tax with impact on the Capital Goods, as well as on specifi c components of the Integrated System; and modifi ed the Resolutions that mentions.

33, dated 5.17.2011 – Prorogates, for a deadline of 60 days, the validity of the Resolution no. 21, dated April 7, 2011, which provides for sales conditions practices in the international trade, accepted in the Brazilian exports and imports.

34, dated 5.17.2011 – Changed to 2%, for the period and quota determined, due to shortages, the ad valorem aliquots of the Import Tax with impact on the products that that specifi es, classifi ed in the codes Common Mercosur Nomenclature (NCM) no. 2907.23.00 and NCM 7208.51.00.


35, dated 6.1.2011 – Changed to 2%, up to June 30, 2012, the ad valorem aliquots of the Import Tax with impact on the Telecommunication and Informatics Goods that relates, in the condition of tariff exceptions.

36, dated 6.1.2011 – Changed to 2%, up to June 30, 2012, the ad valorem aliquots of the Import Tax with impact on the Capital Goods, in the condition of tariff exceptions.

37, dated 6.1.2011 – Applied provisional antidumping right, for a deadline of up to 6 months, to the Brazilian imports of supercalendered paper, classifi ed in the item 4806.40.00 of the Common Mercosur Nomenclature (NCM9, from the Republic of France, Republic of Italy and Republic of Hungary.

38, dated 6.1.2011 – Applied defi nitive antidumping right, for a deadline of up to 5 years, to the Brazilian imports of styrene-butadiene rubber of the lines 1502 and 1712, from Republic of Korea, commonly classifi ed in the item 4002.19.19 of the Common Mercosur Nomenclature.

39, dated 5.31.2011 – Changed to 0% the aliquot of the import tax on rabies and hepatitis B vaccines, for 12 months and according to determined quotas, and changed to 2% the aliquot of the tax on the imports of palm oil, also for 12 months and 222,500 tons, for purposes of supply.

40, dated 6.8.2011 – Instituted, in the scope of the Management Executive Committee (Gecex), the Coordination Group on Consolidation of Mercosur Customs Union (GC Mercosur), in order to examine and suggest the Brazilian position about the commitments foreseen in the Decision of the Common Market Council (CMC) no. 56, dated December 16, 2010 (Customs Union Consolidation Program), among other measures.

41, dated 6.14.2011 – Changed to 2% the aliquot of the Import Tax on the Ex 001 – Linear alkylbenzene, for 3 months and 3,000 tons, for purposes of supply.

42, dated 6.14.2011 – Instituted, in the scope of the Management Executive Committee (Gecex), the Monitoring Technical Group of the Common Market Group Resolution (GMC) no. 08, dated June 20, 2008 (GTAR-08), which provides for the modifi cation of the external tariff due to shortages.

43, dated 6.21.2011 – Changed to 2% the aliquot of the import tax on “anatase titanium dioxide”, for 12 months and 6,000 tons, for purposes of supply.

44, dated 7.11.2011 – Instituted, in the scope of the Foreign Trade Council (Camex), the Inter-Ministerial technical Group, authorized to elaborate proposal of modernization and consolidation of the internal legislation about foreign trade, in view of the harmonization, rationalization and simplifi cation.


45, dated 7.11.2011 – Applied provisional antidumping right, for a deadline of up to six months, to the Brazilian imports of toluene-diisocynate, from Argentina and the U.S., commonly classifi ed in the item Common Mercosur Nomenclature (NCM) 2929.10.21, to be paid as specifi c aliquots fi xed in U.S. dollar per ton, according to specifi ed amounts.

46, dated 7.11.2011 – Prorogated the defi nitive antidumping right, for a deadline of up to fi ve years, applied to Brazilian imports of thermos from China, commonly classifi ed in the item Common Mercosur Nomenclature (NCM) 9617.00.10, keeping the right as ad valorem aliquot of 47%.

47, dated 11.7.2011 – Changed to 2%, up to December 31, 2012, the ad valorem aliquots of the Import Tax with impact on the Telecommunication and Informatics Goods that relates, in the condition of tariff exceptions, as well as on the components of the Integrated Systems that relates.

48, dated 7.11.2011 – Changed to 2%, up to December 31, 2012, the ad valorem aliquots of the Import Tax with impact on the Capital Goods, in the condition of tariff exceptions, as well as on the components of the Integrated Systems that relates; and changed to 0% the ad valorem aliquots of the Import Tax with impact on the components of the Integrated System (IS-844), included in the Resolution no. 36, dated June 1, 2011. The tariff exceptions of the Resolutions that mentions are also modifi ed.

50, dated 7.15.2011 – Changed to 2%, up to December 31, 2012, the ad valorem aliquot of the Import Tax with impact on the Telecommunication and Informatics Goods that relates, in the condition of tariff exceptions, classifi ed in the code Common Mercosur Nomenclature (NCM) no. 9030.82.10.

51, dated 7.15.2011 – Changed to 2%, up to December 31, 2012, the ad valorem aliquots of the Import Tax with impact on the Capital Goods, in the condition of tariff exceptions.

54, dated 8.9.2011 – Prorogated the defi nitive antidumping right, for a deadline of up to fi ve years, applied to Brazilian imports of carbon steel pipes, without sewing, used for oil pipelines and gas pipelines, with diameter of up to fi ve inches, from Romania, commonly classifi ed in the item Common Mercosur Nomenclature (NCM) no. 7304.19.00, to be paid as ad valorem aliquot of 14.3%, coming into force on October 7, 2011.

55, dated 8.9.2011 – Altered the Articles 1 and 6 of the Resolution no 35, dated November 22, 2006, which regulates the reduction of the aliquot of the Import Tax in capital, informatics and telecommunications goods, as well as their parts, pieces and components, without national production, and determines that the reduction is not applicable for used goods.


56, dated 8.9.2011 – Changed to 2%, up to December 31, 2012, the ad valorem aliquot of the Import Tax with impact on the Telecommunication and Informatics Goods that mentions, in the condition of tariff exceptions.

57, dated 8.9.2011 – Changed to 2%, up to December 31, 2012, the ad valorem aliquots of the Import Tax with impact on the Capital Goods, in the condition of tariff exceptions.

58, dated 8.12.2011 – Changed to 0%, up to December 31, 2011, the aliquot of the Tax Import “Terephthalic Acid and its salts”, Common Mercosur Nomenclature (NCM) no. 2917.36.00, whose quota is of 135,000 tons, regulated by the Common Market Group Resolution (GMC) no. 8, dated June 20, 2008.

59, dated 8.29.2011 – Changed to 2%, for a period of six months and according to determined quotas, the ad valorem aliquots of the Import Tax of goods classifi ed in the codes Common Mercosur Nomenclature (NCM) no. 4810.13.90 coated paper, and 7307.91.00 fl anges, and up to December 31, 2011, of goods classifi ed in the code NCM no. 7208.51.00, regulated by the Common Market Group Resolution (GMC) no. 8, dated June 20, 2008.

60, dated 9.6.2011 – Altered the Resolution no. 38, dated June 1, 2011, which provides for the application of the defi nitive antidumping right to Brazilian imports of styrene-butadiene rubber of the lines 1502 and 1712, from Korea, commonly classifi ed in the item Common Mercosur Nomenclature (NCM) no. 4002.19.19, in view of the request for reconsideration presented by the Kumho Petrochemical Co., Ltd. (KKPC) and the Lanxess Elastômeros do Brasil S.A.

61, dated 9.6.2011 – Provides for the application of defi nitive antidumping right, for a deadline of up to 5 years, to the Brazilian imports of coarse salt non-targeted to animal and human consumption, from the Republic of Chile and homologates the pricing commitment.

63, dated 9.6.2011 – Provides for the application of defi nitive antidumping right, for a deadline of up to 5 years, to the Brazilian imports of carbon steel pipes from the People’s Republic of China.

64, dated 9.9.2011 – Regulated the retroactive charge of compensatory and antidumping rights.

65, dated 9.14.2011 – Altered the Brazilian List of Exceptions to the Common External Tariff (TEC).


66, dated 9.6.2011 – Changed the way to apply the defi nitive antidumping right on Brazilian imports of polyvinyl chloride resin, regulated by the Resolution no. 85, dated December 8, 2010.

67, dated 9.20.2011 – Included new types of “tow trucks and semi trucks” in the Brazilian List f Exceptions to the Common External Tariff (TEC).

68, dated 9.20.2011, rectifi cation published on 9.27.2011 – Changed to 2%, up to December 31, 2012, the ad valorem aliquots of the Import Tax with impact on the Capital Goods, in the condition of tariff exceptions.

69, dated 9.20.2011, rectifi cation published on 9.30.2011 – Modifi ed the Common Mercosur Nomenclature (NCM), the aliquots of the Import Tax that compose the Common External Tariff (TEC) and the Brazilian List of Exceptions to the TEC.

70, dated 9.20.2011 – Changed to 2%, up to December 31, 2012, the ad valorem aliquot of the Import Tax with impact on the Telecommunication and Informatics Goods that mentions, in the condition of tariff exceptions.

71, dated 9.20.2011 – Prorogated the defi nitive antidumping right, for a deadline of up to 5 years, applied to Brazilian imports of Monocalcium Phosphate Monohydrate Food Grade (MCP), from the Republic of Argentina.

72, dated 10.5.2011 – Changed to 2%, for the indicated periods and according to the determined quota, the ad valorem aliquot of the Import Tax of goods classifi ed in the codes of the Common Mercosur Nomenclature (NCM) that relates.

73, dated 10.5.2011 – Modifi ed the Article 6 of the Resolution no. 35, dated November 22, 2006, which establishes the reduction of the aliquot of the Import Tax on capital, informatics and telecommunication goods, as well as their parts, pieces and components, without national production, considered in the Common External Tariff (TEC) as BK or BIT, may be granted in the condition of tariff exceptions.

74, dated 10.5.2011 – Changed to 2%, up to December 31, 2012, the ad valorem aliquots of the Import Tax with impact on the Capital Goods, in the condition of tariff exceptions, as well as on the components of the Integrated System that specifi es and modifi es the tariff exceptions of the Resolutions that mentions.

75, dated 10.5.2011 – Concluded the investigation about the application of defi nitive antidumping right, for a deadline of up to fi ve years, on the Brazilian imports of supercalendered paper, exported by France, Italy and Hungary, commonly classifi ed in the item Common Mercosur Nomenclature (NCM) no. 4806.40.00, to be paid as specifi c aliquot, set in U.S. dollar per ton, in the specifi ed amounts.


76, dated 10.5.2011 – Concluded the investigation about the application of defi nitive antidumping right, for a deadline of up to fi ve years, on the Brazilian imports of n-Butanol, exported by the U.S., commonly classifi ed in the item Common Mercosur Nomenclature (NCM) no. 2905.13.00, to be paid as specifi c aliquot, set in U.S. dollar per ton, in the specifi ed amounts.

77, dated 10.5.2011 – Extinguished the defi nitive antidumping right applied to the Brazilian imports of barium carbonate, exported by China, commonly classifi ed in the item Common Mercosur Nomenclature (NCM) no. 2836.60.00, regulated by the Resolution no. 48, dated June 30, 2010.

78, dated 10.5.2011 – Considered as fulfi lled the authorization requirement, regulated by the item 2 of the Annex of the Resolution no. 55, dated August 5, 2010, when the import is not subjected to the requirement, in the Integrated Foreign Trade System (Siscomex), of direct or indirect import license, by legal person, in compliance with the Resolution no. 83, dated December 7, 2010.

79, dated 10.5.2011 – Altered the Brazilian List of Exceptions to the Common External Tariff (TEC).

82, dated 10.5.2011 – Created the Trade Defense Technical Group (GTDC), in the scope of the Foreign Trade Council (Camex), in order to examine the proposals of compensatory and antidumping rights fi xing, provisional or defi nitive, safeguard, of homologation of the pricing commitment and extension of the application of antidumping and compensatory measures, regulated by the Article 10-A, of the Law no. 9,019, dated March 30, 1995, and revoked by the Resolution no. 30, dated September 26, 2006.

83, dated 10.31.2011 – Altered, for the periods mentioned and according to determined quotas, the ad valorem aliquots of the Import Tax of goods classifi ed in the codes Common Mercosur Nomenclature (NCM), specifi ed and revoked by the Resolution no. 80, dated October 5, 2011.

84, dated 11.9.2011 – Changed to 2%, up to December 31, 2012, the ad valorem aliquots of the Import Tax with impact on the Telecommunication and Informatics Goods that mentions, in the condition of tariff exceptions.

85, dated 11.9.2011 – Changed to 2%, up to December 31, 2012, the ad valorem aliquots of the Import Tax with impact on the Capital Goods that mentions, in the condition of tariff exceptions, as well as on the components of the Integrated Systems that relates.

86, dated 11.9.2011 – Applied provisional antidumping right, for a deadline of up to six months, on the Brazilian imports of Light Weight Coated (LWC), coated in the two sides, weighting a total between 50 and 72 g/m, in which the coating weight should


not exceed 152 g/m² per side, for offset printing, with brightness between 60% and 95%, while the supporting paper should be composed of, at least, 50% in weight of wood fi bers obtained by means of mechanic process, from the U.S., Finland, Sweden, Belgium, Canada and Germany, commonly classifi ed in the item Common Mercosur Nomenclature (NCM) 4810.22.90, to be paid as specifi c aliquots, set in U.S. dollar per ton, in the specifi ed amounts.

87, dated 11.9.2011 – Revoked modifi cation of aliquots of the Tax Import of the code mentioned, regulated by the Resolution no. 8, dated June 20, 2008, of the Mercosur Common Market Group (GMC), included in the Camex Resolutions no. 72 and 83, dated October 5, 2011, and October 31, 2011, respectively, which modifi ed the ad valorem aliquots of the Import Tax of goods classifi ed in the codes Common Mercosur Nomenclature (NCM) no. 7326.90.90.

88, dated 11.11.2011 – Prorogated the deadline to present the fi rst project of modernization and consolidation of the legislation related to the foreign trade, regulated by the Resolution no. 44, dated July 11, 2011.

92, dated 11.17.2011 – Applied defi nitive antidumping right, for a deadline of up to 5 years, on Brazilian imports of toluene diisocyanate (TDI-80/20), from the U.S. and Argentina.

94, dated 12.8.2011 – Altered the Common Mercosur Nomenclature (NCM) and the aliquots of the Import Tax that compose the Common External Tariff (TEC), as well as the List of Exceptions to the Common External Tariff and Informatics and Telecommunications Goods (BIT), for purposes of adaptation to the modifi cations of the Harmonized Commodity Description and Coding System (HS). This Resolution comes into force on January 1, 2012, revoking the opposite provisions, especially the Resolution no 43, dated December 22, 2006, and future alterations.

95, dated 12.13.2011 – Changed to 2%, up to December 31, 2012, the ad valorem aliquots of the Import Tax with impact on the Telecommunications and Informatics Goods, in the condition of tariff exceptions that mentions.

96, dated 12.13.2011 – Changed to 2%, up to December 31, 2012, the ad valorem aliquots of the Import Tax with impact on the Telecommunication and Informatics Goods, in the condition of tariff exceptions.

97, dated 12.23.2011 – Changed to 2%, for a period of 12 months and according to determined quota, the ad valorem aliquot of the Import Tax, with impact on the goods classifi ed in the codes Common Mercosur Nomenclature (NCM) no. 3206.11.19 and 3904.10.20.


98, dated 12.29.2011 – Prorogated, up to December 31, 2012, the validity of the aliquot of the Import Tax of 35%, regulated by the Camex Resolution no. 92, dated December 27, 2010, for the codes Common Mercosur Nomenclature (NCM), included in the Annex 1 of the Resolution no. 94, dated December 8, 2011, coming into force on January 1, 2012.

99, dated 12.29.2011 – Prorogated, up to December 31, 2012, the validity of the aliquot of the Import Tax of 35%, regulated by the Resolution no. 14/2011, for the codes Common Mercosur Nomenclature (NCM), included in the Annex 1 of the Camex Resolution no. 94, dated December 8, 2011, coming into force on January 1, 2012.

100, dated 12.29.2011 – Updated the tariff framework and the numerations of tariff exceptions of valid Capital Goods, by adjusting the Resolution no. 94, dated December 8, 2011, which integrated the Amendment V to the Harmonized System, coming into force on January 1, 2012.

Central Bank of Brazil Circulars

3,520, dated 1.6.2011 – Established compulsory payment on exchange short position.

3,521, dated 1.12.2011 – Published the sample regulated by the Article 1 of the Resolution no. 3,354, dated March 31, 2006, in order to calculate the Basic Financing Rate (TBF) and the Reference Rate (TR).

3,522, dated 1.14.2011 – Prohibited the fi nancial institutions to sign covenants, contracts or agreements that impede the access of clients to credit operations offered by other institutions.

3,523, dated 1.14.2011 – Established the period to present the declaration of Brazilian Capital Abroad (CBE), related to the base date of December 31, 2010.

3,524, dated 2.3.2011 – Provided for the limits of leverage and mobilization to consortiums’ administers, and adopted other measures.

3,525, dated 2.10.2011 – Altered the International Exchange and Capital Market Regulations (RMCCI).

3,526, dated 2.23.2011 – Prorogated the fi nal deadline to present the declaration of Brazilian Capital Abroad (CBE), related to the base date of December 31, 2010.



3,528, dated 3.23.2011 – Altered the Circular no. 3,091, dated March 1, 2002, and the Circular no. 3,144, dated August 14, 2002, which provide for the compulsory payment on term funds, and the additional enforceability about deposits, and the Circular no. 3,520, dated January 6, 2011, which provides for the compulsory payment on the exchange short position.

3,529, dated 3.29.2011 – Provides for the compulsory payment on funds raised by the Federal Savings Bank.



3,532, dated 4.25.2011 – Established the truncation as standard procedure, in the scope of the Clearance of Checks and other Documents Centralizing Bureau (Compe), altered and consolidated the proper regulation.


3,534, dated 5.6.2011 – Altered the regulation about Available Electronic Transfer (TED).

3,535, dated 5.16.2011 – Established reason to return checks, altered descriptions and specifi cations of use of existent reasons, and modifi ed the Circular no. 3,532, dated April 25, 2011.

3,536, dated 5.19.2011 – Altered the regulation of the Monetary Policy Committee (Copom), attached to the Circular no. 3,297, dated October 31, 2005.

3,537, dated 5.25.2011 – Altered the Circular no. 3,506, dated September 23, 2010, which provides for the methodology to assess real/dollar exchange rate by the Central Bank of Brazil (System of Exchange Rate Control and Information).

3,538, dated 6.1.2011 – Provided for the procedure to retire of circulation notes damaged due to supposed activation of anti-theft devices.

3,539, dated 6.2.2011 – Altered the Articles 8 and 9 of the Regulation attached to the Circular no. 3,057, dated August 31, 2011.


3,540, dated 6.9.2011 – Altered the Circular no. 3,538, dated June 1, 2011, which provided for the procedures to retire of circulation notes damaged due to supposed activation of anti-theft devices.

3,541, dated 6.24.2011 – Altered the Circular no. 3,298, dated November 1, 2005, and its annex Regulation of Custody of Currency of the Central Bank of Brazil.

3,542, dated 6.24.2011 – Altered the Circular no. 3,427, dated December 19, 2008, prorogating the deadline for the acquisition and execution of inter-fi nancial deposits subjected to deduction of compulsory payment on term funds.

3,543, dated 6.24.2011 – Established deadline to present the declaration of Brazilian Capital Abroad (CBE), related to the base dates of March 31, 2011, June 30, 2011, and September 30, 2011.

3,544, dated 6.28.2011 – Altered the Regulation attached to the Circular no. 3,406, dated September 26, 2008, which provides for the Payments in Local Currency System between the Central Bank of Brazil and the Central Bank of Argentina.

3,545, dated 7.4.2011 – Altered the International Exchange and Capital Market Regulations (RMCCI), and adopted other measures.

3,546, dated 7.4.2011 – Altered the attachment to the Central Bank Information System (Sisbacen), published by the Circular no. 3,232, dated April 6, 2004.

3,547, dated 7.7.2011 – Established procedures and parameters related to the Internal Capital Adequacy Assessment Process (Icaap).

3,548, dated 7.8.2011 – Redefi ned and consolidated the rules of compulsory payment on exchange short position.

3,549, dated 7.18.2011 – Altered the Circular no. 3,512, dated November 25, 2010, and the Circular no. 3,360, dated September 12, 2007, to provide for matters related to credit card contracts that foresee the payment of invoices by means of payroll-deducted operations.

3,550, dated 7.21.2011 – Published the sample regulated by the Article 1 of the Resolution no. 3,354, dated March 31, 2006, in order to calculate the Basic Interest Rate (TBF) and the Reference Rate (TR).



3,552, dated 7.26.2011 – Changed the data from which the Available Electronic Transfers (TEDs), carried out in favor or by command of institution holding the Banking Reserves Account or Settlement Account, should be subjected to settlement, in compliance with the system managed by the Central Bank of Brazil, only if involving application in capital and fi nancial markets.

3,553, dated 8.3.2011 – Provided for the conditions to register credit operations in systems of registration and fi nancial settlement of assets authorized by the Central Bank of Brazil.


3,555, dated 8.10.2011 – Regulated the electronic exchange of information by means of the National Financial System Network (RSFN).


3,557, dated 9.1.2011 – Altered provisions related to the Rediscount of the Central Bank, included in the regulation attached to the Circular no. 3,105, dated April 5, 2002.

3,558, dated 9.16.2011 – Provided for the risk prevention in the contracting of operations and rendering of services by administers of consortium, and adopted other measures.

3,559, dated 9.19.2011 – Published the conduction of the Census of Foreign Capital in the Country 2011.

3,560, dated 10.17.2011 – Released the issue of accounting documents by administers of consortium.

3,561, dated 10.26.2011 – Authorized fi nancial institutions to participate in the economic subsidy operations, in the scope of the My House, My Life Program (PMCMV), in compliance with the Law no. 11,977, dated July 7, 2009.

3,562, dated 10.31.2011 – Prorogated the fi nal deadline to present the declaration of the Census of Foreign Capital in the Country 2011, related to the base date of December 31, 2010.

3,563, dated 11.11.2011 – Altered the Circular no. 3,360, dated September 12, 2007, which established the procedures to calculate the Amount of the Required Base Capital referring to Exposures by Weighted Risk Factor (PEPR), and the Circular no. 3,512,


dated November 25, 2010, which provided for the payment of the minimum value of the credit card invoice.

3,564, dated 11.16.2011 – Altered the attachment to the Central Bank Information System (Sisbacen), published by the Circular no. 3,232, dated April 6, 2004.


3,566, dated 12.8.2011 – Defi ned criteria for the fulfi llment of the required application of cash deposits in microcredit operations, and established procedures to send information related to these operations.

3,567, dated 12.12.2011 – Provided for the sending of information related to credit operations of the Credit Information System (SCR), regulated by the Resolution no. 3,568, dated December 17, 2008.

3,568, dated 12.21.2011 – Altered provisions of the Circulars no. 3,361, dated September 12, 2007, 3,388, dated June 4, 2008, 3,478, dated December 24, 2009, and 3,498, dated June 28, 2010, which established the procedures to calculate the Installment Referring to the Risk of Operations Subject to Interest Rate Variation (PJUR), the Amount Related to the Risk of Operations Subject to Change in Stock Price (PACS), the Amount Related to the Risk of Operations Subject to Change in the Price of Goods (PCOM), and the Amount Referring to Risk Exposure in Gold, Foreign Currency, and Operations subject to Foreign Exchange Variation (PCAM) of the Required Base Capital (PRE), regulated by the Resolution no. 3,490, dated August 29, 2007.

3,569, dated 12.21.2011 – Redefi ned and consolidated the rules of compulsory payment on term funds.

3,570, dated 12.23.2011 – Established the mandatory provision of information related to the resolutions of the United Nations Security Council (UNSC) incorporated to the Brazilian judicial system, altered the regulation of the International Exchange and Capital Market Regulations (RMCCI), and adopted other measures.

Circulars of the Foreign Trade Secretariat

1, dated 1.6.2011 – Established, since January 7, 2011, a deadline of 40 days to present proposals to improve the offer for negotiations, in the scope of the future Free Trade Agreement between the Mercosur and the EU. To indicate new offers, it should be observed the worksheet available in the website http://www.mdic.gov.br/sitio/interna/interna.php?area=5&menu=2635&refr=1893, which represents the consolidation of


supplies of the Mercosur, on September, 2004. The expressions of interest may be exclusively formulated by professional associations, and should be sent by a written mean, to the Department of International Negotiations (Deint), located in the Esplanada dos Ministérios, Bloco J, 8° andar, sala 814, and a digital copy sent to [email protected] and [email protected].

3, dated 1.18.2011 – Prorogated, up to February 4, 2011, the fi nal deadline stipulated in the Circular no. 54/2010, to present any expression about the European proposal of specifi c requirements of origin for the products classifi ed in the Chapters 25-97 of the Harmonized System, for the negotiations of the Free Trade Agreement between the Mercosur and the EU. This deadline ends at 17:00 o’clock, Brasilia-DF time, on February 4, 2011.

23, dated 5.19.2011 – Concluded the research which investigated the presence of dumping in the exports of low-carbon and low-alloy laminated products, treated with continuous or traditional casting (Common Mercosur Nomenclature – NCM no. 7208.51.00 and 7208.52.00), from Turkey, North Korea, Chinese Taipei and Mexico.

25, dated 5.27.2011 – Prorogated for up to six months, since June 1, 2011, the deadline to investigate the dumping present in the exports of styrene-butadiene rubber E-SBR 1502 and 1712, from Korea to Brazil, and the damage caused to the domestic industry by this practice, initiated by means of the Circular no. 20, dated May 31, 2010.

63, dated 11.30.2011 – Published that the Generalized System of Preferences (GSP) of the U.S., from which Brazil is benefi ciary, was renovated up to July 31, 2013, by means of presidential sanction to the project of the North-American Congress “H.R. 2832: To extend the Generalized System of Preferences, and for other purposes”, occurred on October 21, 2011.

Federal Revenue Secretariat of Brazil Directives

257, dated 5.20.2011 – Provided for the readjustment of the Utilization Rate of the Foreign Trade Integrated System, administered by the Federal Revenue Secretariat of Brazil.

464, dated 9.22.2011 – Prorogated, up to December 29, 2011, the deadline to pay the Financial Operations Tax (IOF) on operations with derivatives, and revoked the Ordinance of the Ministry of Finance (MF) no. 370, dated July 29, 2011.

560, dated 12.23.2011 – Prorogated the deadline to pay the Financial Operations Tax (IOF) on operations with derivatives, and revoked the Ordinance of the Ministry of Finance (MF) no. 464, dated September 22, 2011.


Foreign Trade Secretariat Directives

2, dated 7.1.2011 – Determined that since February 1, 2011, the Export Registrations will be only registered in the Siscomex Export, by means of the webpage of the Ministry of Development, Industry and Foreign Trade (www.mdic.gov.br).

23, dated 7.11.2011 – Consolidated the rules and procedures applicable to foreign trade operations, and revoked the Directive no. 10, dated May 24, 2010.

41, dated 12.5.2011 – Determined that the lead pencils and color pencils, considered as wood pencils, with diameter between 7 and 8 mm, classifi ed in the Common Mercosur Nomenclature (NCM) no. 9609.10.00, exported by the company that mentions, do not fulfi ll the necessary conditions to be considered as coming from Chinese Taipei.

National Treasury Secretariat Directives

65, dated 1.27.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$22,711,845.33, on January 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

66, dated 1.27.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$20,580,873.61, on January 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

188, dated 3.28.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$2,945,697.32, on March 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

189, dated 3.28.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$43,375,075.40, on March 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

190, dated 3.28.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$2,859.11, on March 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).


268, dated 4.27.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$14,204,036.20, on April 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

269, dated 27.4.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$593,98.44, on April 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

270, dated 4.27.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$2,247,293.85, on April 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

439, dated 7.5.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$2,594,554.50, on June 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).



526, dated 8.1.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$1,089,225.47, on July 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

527, dated 8.1.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$4,592,132.80, on July 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

528, dated 8.1.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$16,952,636.51, on July 15, 2011, to be used in the equalization


payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

669, dated 9.30.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$3,525,509.95, on September 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).



726, dated 10.28.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$229,204.35, on October 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

727, dated 10.28.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$1,582,245.29, on October 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

728, dated 10.28.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$21,008,442.64, on October 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

794, dated 11.30.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$700,952.94, on November 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

795, dated 11.30.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$2,381,552.03, on November 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).


796, dated 11.30.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$26,472,037.40, on November 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

811, dated 12.7.2011 – Established that the resources related to the States, Federal District and Municipalities Revenue Sharing Funds and the Industrialized Products Exports Compensation Fund (IPI-EXP) should be provided in 2012, according to the chronogram that mentions.

850, dated 12.27.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$385.301,78, on December 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

851, dated 12.27.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$4,877,009.30, on December 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

852, dated 12.27.2011 – Authorized the issue of National Treasury Notes – Series I (NTN-I) amounting to R$27,550,023.28, on December 15, 2011, to be used in the equalization payment of interest rates of fi nancings to the export of Brazilian goods and services, supported by the Export Financing Program (Proex).

Normative Instructions of the Federal Revenue Secretariat of Brazil

1,124, dated 1.2.2011 – Provided for the adjustment mechanism, for purposes of confi rmation of transfer prices in the export, in order to reduce the impacts related to the appreciation of local currency, compared to other currencies, for the calendar year 2010.

1,169, dated 6.29.2011 – Established special procedures of control of the import and export of goods and commodities, in view of a supposed irregularity punishable with confi scation, and revoked the Normative Instructions no. 52, dated May 8, 2001, and no. 206, dated September 25, 2002.

1,186, dated 8.29.2011 – Provided for the Special Regime for Brazilian Aeronautical Industry (Retaero).


1,202, dated 10.19.2011 – Approved the Amendment V to the Nomenclature of the Harmonized System of Designation and Codifi cation of Goods, coming into force on January 1, 2012.

1,207, dated 11.3.2011 – Provided for the impact of the Financial Operations Tax (IOF) on operations with derivatives.

Interpretative Declaratory Acts of the Federal Revenue Secretariat

40, dated 8.1.2011 – Determined that the use of credit card to pay bills by means of credit, regulated in the Resolution no. 3,919, dated November 25, 2010, is subjected to the Financial Operations Tax (IOF), to the aliquot of 3%.

41, dated 8.1.2011 – Determined that the settlements of exchange operations for the infl ow of funds in the country, by means of simultaneous operations, related to foreign loan directly contracted or through issue of international market securities with minimum medium-term of up to 720 days, in compliance with the paragraph XXII of the Article 15-A of the Decree no. 6,306, dated December 14, 2007, with the modifi cations introduced by the Decree no. 7,457, dated April 6, 2911, may be impacted by the Financial Operations Tax (IOF), to the aliquot of 6%.

Central Bank of Brazil Communiqués

20,503, dated 1.18.2011 – Released the entailment of exchange contracts to Export Dispatch Declarations (DDE) and Import Declarations (DI), among other measures.

21,124, dated 5.31.2011 – Published the signing of Bilateral Treaty between the Central Bank of Brazil and the Central Bank of the Republic of Argentina, authorizing, in the scope of the Reciprocal Credit and Payment Agreement (CCR) of the Latin American Integration Association (Aladi), international trade operations of services necessary to the execution of civil engineering works, targeted to the construction of infrastructure and industries.

Circular Letters of the Central Bank of Brazil

3,512, dated 6.24.2011 – Published criteria for the accreditation and disqualifi cation of dealers institutions, which operate jointly with the Department of International


Reserve Operations (Depin) – Circular no. 3,083, dated January 30, 2002, and revoked the Circular Letter no. 3,395, dated April 23, 2009.

3,523, dated 10.18.2011 – Published procedures related to the compulsory payment on exchange short position.