Provisional Measure No. 2,090-18, Of 25 January 2001

Original Language Title: Medida Provisória nº 2.090-18, de 25 de Janeiro de 2001

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PROVISIONAL MEASURE # 2.090-18, OF January 25, 2001

Changes devices of Law No. 9,365 of December 16, 1996 establishing the Long-term Interest Rate-TJLP, has on the remuneration of the resources of the PIS-PASEP Participation Fund, the Amparo Fund to Worker and the Fund of the Merchant Navy.

THE PRESIDENT OF THE REPUBLIC, in the use of the attribution that confers you the art. 62 of the Constitution, adopts the following Interim Measure, with force of law:

Art. 1º The arts. 1º, 2º and 3º of Law No. 9,365 of December 16, 1996, pass vigorously with the following essay:

" Art. 1º As of 1º October 1999, the Long-term Interest Rate-TJLP will have a period of validity of one quarter-calendar and will be calculated from the following parameters:

I? calculated inflation target pro rata for the twelve months following the first month of the rate, inclusive, based on the annual targets fixed by the National Monetary Council ;

II? risk premium. " (NR)

" Art. 2º The TJLP shall be fixed by the National Monetary Council and disclosed until the last business day of the quarter immediately prior to that of its duration. " (NR)

" Art. 3º In addition to the cases provided for in the current legislation, TJLP may be used in any operations carried out in the financial and securities markets, under the conditions set by the Central Bank of Brazil and, in the case of that last market, also by the Securities Commission. " (NR)

Art. 2º Stay convalidated the acts practiced on the basis of the Provisional Measure No. 2.090-17 of December 27, 2000.

Art. 3º This Provisional Measure comes into force on the date of its publication.

Art. 4º It is repealed Law No. 9,780 of January 19, 1999.

Brasilia, January 25, 2001 ; 180º of Independence and 113º of the Republic.

FERNANDO HENRIQUE CARDOSO

Silvano Gianni