PROVISIONAL MEASURE NO. 2.087-28, OF January 25, 2001

Disposes on the administration of the National Treasury's cash resources, consolidates and updates the relevant legislation to the subject and gives other arrangements.

THE PRESIDENT OF THE REPUBLIC, in the use of the assignment that confers him the art. 62 of the Constitution, adopts the following Provisional Measure, with force of law:

Art. 1º The financial resources of all sources of revenue of the Union and its public authorities and foundations, inclusive of funds by them administered, will be deposited and busied solely through the mechanisms of the National Treasury's single account, in the form regulated by the Executive Power.

Single paragraph. In cases where specific operational characteristics do not allow the financial movement by the National Treasury's single cash system, resources may exceptionally be able to at the discretion of the Minister of State for Finance, be deposited in the Bank of Brazil S.A. or in the Federal Economic Box.

Art. 2º As of 1º January 1999, the resources of the funds, the authorities and the federal public foundations will not be able to be applied in the financial market.

§ 1º The Minister of State for Finance, in exceptional cases, will be able to authorize the entities referred to in the caput of this article to be made applications in the financial market, observed the provisions of the single paragraph of the previous article.

§ 2º To the entities referred to in the previous article that they have, on December 15, 1998, legislative authorization to carry out financial applications of their availabilities is assured of remuneration for their applications, which will not be able to exceed the incident on the single account.

§ 3º The resources that are found to be applied in the financial market on December 31, 1998 are to be transferred to the National Treasury's single account on the January 4, 1999 or, in the case of application requiring the compliance with a deadline for ransom or for obtaining income, on the date of the respective due or on the day immediately subsequent to the payment of the income.

§ 4º The public authorities and foundations, the funds by them administered, as well as the bodies of the direct Federal Public Administration, will be able to maintain in the sole account of the National Treasury, in fixed-term applications, financial availabilities arising from own revenue collection, in the form regulated by the Ministry of Finance.

§ 5º The fixed-term applications of which it treats the preceding paragraph shall be assured remuneration in the form of the provisions of § 2º of this article, by becoming vetted bailouts before the deadline.

§ 6º The resources that on the last day of each exercise remain applied in the form of § 4º of this article may be deducted from the amount of which it treats the inciso II of the art. 1º of Law No. 9,530 of December 10, 1997.

Art. 3º Stay the National Treasury authorized to anticipate resources from any revenue to carry out expenditure, up to the limit of the respective budget allocations, upon use of availabilities of box.

§ 1º The provisions of this article shall not prejudice the delivery of the revenue linked to the respective beneficiaries.

§ 2º The proof of use of the linked revenues of the National Treasury, in the purposes for which they were instituted, will be demonstrated upon annual report of the implementation of the budget expenditure.

§ 3º The provisions of this article do not apply to the constitutional transfers referred to in art. 159 of the Constitution.

Art. 4º The provisions of this Provisional Measure do not apply to the resources:

I-of the Central Bank of Brazil;

II-of which it treats § 2º of the art. 192 of the Constitution.

Art. 5º In the operations carried out by the member institutions of the National Financial System, the capitalization of interest with periodicity of less than one year is admissible.

Single paragraph. Where necessary or when requested by the debtor, the ascertaining of the exact value of the obligation, or of its debtor balance, shall be made by the creditor by means of calculation spreadsheet that evidenced in a clear, accurate and easy-to-understand manner and understanding, the core value of the debt, its contractual charges and expenses, the repayment of interest and the criteria of its incidence, the share corresponding to fines and too many contractual penalties.

Art. 6º Ficam convalidated the acts practiced on the basis of the Provisional Measure No. 2.087-27, of December 27, 2000.

Art. 7º This Interim Measure comes into effect on the date of its publication and, resalvaged the provisions of art. 5º, it produces effects from 1º January 1999.

Art. 8º It is revoked the single paragraph of the art. 60 of Law No. 8,212 of July 24, 1991.

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

FERNANDO HENRIQUE CARDOSO

Silvano Gianni