ARTICLE · 22 DECEMBER 2010

New Rules on Brazilian Financial Bills

Walter Stuber Consultoria Jurídica

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On December 16, 2010, the Brazilian government announced two measures which deal with the issuance of Financial Bills ("Letras Financeiras" - LFs), created by means of article 39 of Law No. 12249, of June 11, 2010, and aims to foster long-term debt instruments which may be issued by certain financial institutions.

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Adriana Stuber

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On December 16, 2010, the Brazilian government announced two measures which deal with the issuance of Financial Bills (Letras Financeiras - LFs), created by means of article 39 of Law No. 12249, of June 11, 2010¹, and aims to foster long-term debt instruments which may be issued by certain financial institutions. The Brazilian Monetary Council (Conselho Monetário Nacional - CMN), by means of CMN Resolution No. 3836, of February 25, 2010, authorized the following financial institutions to issue LFs: multiservice, commercial and investment banks (bancos múltiplos, comerciais e de investimentos); savings banks (caixas econômicas); loan, finance and investment companies (sociedades de crédito, financiamento e investimento); mortgage companies (companhias hipotecárias) and real estate loan companies (sociedades de crédito imobiliário).

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