CMN and BACEN issue rules on granting loans from the special temporary liquidity line

On March 23, 2020, the National Monetary Council (“CMN”) issued Resolution No. 4,786 (“CMN Resolution No. 4,786”), which authorizes the Central Bank of Brazil (“BACEN”) to temporarily grant loan operations to institutions financial services through the Special Temporary Liquidity Line (“LTEL”). BACEN, in turn, on March 24, 2020, published Circular No. 3,994 (“BACEN Circular No. 3,994”), which regulates CMN Resolution No. 4,786, as well as the terms and conditions of loan operations made available through LTEL.

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