Deadline passes for banks to meet new rules

BRAZIL - Last Friday 12 October saw the passage of the deadline for banks to meet the decision of the National Monetary Council (CMN), taken at its last meeting, demanding that the institutions have more equity to meet operations with foreign exchange and gold.

On the occasion, Central Bank director for Bank Norms Sergio Darcy established three changes in the rules. The Central Bank press attache said the monetary authority does not normally disclose the positions of the financial institutions.

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