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ARTICLE · 02 MARCH 2012

New Developments On Repo Operations With Brazilian Fixed Income Securities

Walter Stuber Consultoria Jurídica
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On December 15, 2011, the Brazilian Monetary Council (Conselho Monetário Nacional – CMN) issued CMN Resolution No. 4040 (CMN Res. 4040/2011), which amended CMN Resolution No. 3339, of January 26, 2006 (CMN Res. 3339/2006), governing repo operations (operações compromissadas), also known as repurchase or buyback transactions, involving certain fixed income securities in Brazil.

BrazilCorporate/Commercial Law
Walter Stuber
Walter Stuber
Adriana Stuber
Adriana Stuber
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On December 15, 2011, the Brazilian Monetary Council (Conselho Monetário Nacional – CMN) issued CMN Resolution No. 4040 (CMN Res. 4040/2011), which amended CMN Resolution No. 3339, of January 26, 2006 (CMN Res. 3339/2006), governing repo operations (operações compromissadas), also known as repurchase or buyback transactions, involving certain fixed income securities in Brazil. The main features of these transactions are outlined herein.

The different types of repo operations contemplated in the current regulations comprise the sale with promise to buy back or the buy (purchase) with promise of resale and the forward transactions, whose relevant terms and conditions are listed below.

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