Markets: Brazil Brazil
Brazil

KEY INDUSTRY VIEWS: BRAZIL

DOCUMENTATION: BRAZIL 


NEW DEVELOPMENTS 

July 10, 2014
EMTA Issues FX and Currency Derivatives Market Practice for BRL/USD NDF and NDO Transactions and Valuation Dates Falling on the "Last Weekday of the Year" dated July 10, 2014. CLICK HERE to see this Market Practice.

March 24, 2014
Standard & Poor's Downgrades Brazil's Long-Term Foreign Currency Sovereign Credit Rating from BBB to BBB-.

March 12, 2014
EMTA Forum in Sao Paulo to be Held on April 10, 2014. Click Here to Register.

April 29, 2013
EMTA Forum in Sao Paulo to be Held on May 23, 2013. Click Here to Register

November 6, 2012
EMTA updates its Recommended FX and Currency Derivatives Market Practice No. 45 on Determining Barrier Breaches in BRL Non-Deliverable Continuous Barrier Option Transactions. CLICK HERE to view this updated Market Practice. 

March 14, 2012
Murillo De Aragão, GlobalSource Partners and Arko Advice, Brazil, to Deliver Keynote Address at Fifth Annual EMTA Forum in São Paulo on April 23, 2012. Click Here to Register

December 15, 2011
BM&F and BOVESPA Press Release on New Reference Rates.

November 17, 2011
Standard & Poor’s Upgrades Brazil’s Long-Term Foreign Currency Sovereign Credit Rating from BBB- to BBB.

June 20, 2011
Moody’s Upgrades Brazil’s Government Bond Rating from Baa3 to Baa2.

May 25, 2011
Circular 3.506 of the Banco Central do Brasil Regarding Changes to the PTAX Rate Methodology (in Portuguese, with an unofficial English translation). 

May 10, 2011
Presentation by Aldo Mendes, Director of Monetary Policy at the Central Bank of Brazil, at EMTA Forum in Sao Paulo.

April 6, 2011
Aldo Mendes, Director of Monetary Policy, Central Bank of Brazil, to deliver keynote address at Fourth Annual EMTA Forum in São Paulo on May 10, 2011. Click Here to Register.

April 4, 2011
Fitch Upgrades Brazil’s Foreign-Currency Issuer Default Rating from BBB- to BBB.

December 16, 2010
Banco Central Do Brasil Amendments to the PTAX Rate Methodology (in Portuguese). 

Banco Central Do Brasil Amendments to the PTAX Rate Methodology (in English). 

September 23, 2010
Circular 3.506 of the Banco Central do Brasil Regarding Changes to the PTAX Rate Methodology (in Portuguese). 

April 13, 2010
"Five Former Central Bank Directors Discuss Economic Brazilian Economic Outlook at EMTA Sao Paulo Forum."  

"Brazil: Growth, Balance of Payments and Inflation." Keynote Address by Affonoso Celso Pastore, former President of Central Bank of Brazil at EMTA Sao Paulo Forum. (English version). 

December 3, 2009

"Brazilian Politics: 2010 Elections Monitoring" Keynote Presentation by Murillo de Aragao (Arko Advice at GlobalSource Partners) at EMTA Annual Meeting. 

October 2, 2009

WSJ NEWS ALERT: Rio de Janeiro Selected as Host City for 2016 Olympics. 

September 22, 2009

Moody's Upgrades Brazil's Long-Term Foreign Currency Rating from Ba1 to Baa3 (Investment Grade). 

May 11, 2009

"Brasil: De Desacoplado para Reacoplado e Agora Resistente." Presentation by Ilan Goldfajn at EMTA’s Forum in Sao Paulo. 

April 6, 2009

EMTA Forum - São Paulo To Be Held on May 11, 2009. 

October 29, 2008

US Federal Reserve Press Release on Swap Lines with Brazil, Mexico, South Korea and Singapore. 

May 29, 2008

Fitch Upgrades Brazil's Long-Term Foreign Currency Rating from BB+ to BBB-. 

May 13, 2008

Brazil Announces Creation of a Sovereign Wealth Fund. 

May 12, 2008

EMTA Publishes BRL Fixed Income Market Practice. 

May 5, 2008

EMTA Forum - São Paulo To Be Held on May 28, 2008. Click Here to Register.

April 30, 2008

Standard & Poor's Upgrades Brazil's Long-Term Foreign Currency Rating from BB+ to BBB- (Investment Grade). 

April 22, 2008

EMTA Special Presentation "Corporate Bond Covenants: Brazil" in NYC on May 16, 2008. Click Here to Register.

April 17, 2008

Save the Date! EMTA's Forum in São Paulo Scheduled for Wednesday, May 28, 2008. Invitations to be distributed shortly. 

August 23, 2007

Moody's Upgrades Brazil's Foreign-Currency Rating from Ba2 to Ba1. 

May 30, 2007

Special Presentation: "A Shortcut to Local Markets in Brazil"

  • Click Here to View the Presentation by Itaú Corretora
  • Click Here to View the Presentation by Unibanco Brazil
  • Click Here  to View the Presentation by Banco Votorantim S.A.
 

May 16, 2007

Standard & Poor's Upgrades Brazil's Long-Term Sovereign Credit Rating from BB to BB+. 

May 15, 2007

EMTA to Hold a Special Presentation "A Shortcut to Local Markets in Brazil" in NYC on May 30, 2007. Click Here to Register.

May 10, 2007

Fitch Upgrades Brazil's Long-Term Foreign Currency from BB to BB+. 

May 9, 2007

Save the Date for EMTA's Special Presentation: A Shortcut to Local Markets in Brazil. 

October 16, 2006

Special Presentation on Brazil’s Capital Markets 

  • Click Here to View the Presentation by ANDIMA
  • Click Here to View the Presentation by Banco Itaú S.A.
  • Click Here to View the Presentation by Banco Pactual
  • Click Here to View the Presentation by Unibanco
  • Click Here to View the Presentation by CETIP
 

September 20, 2006

EMTA to Hold a Special Presentation on “Brazil’s Capital Markets” in London on October 16, 2006. Click Here to Register.

August 31, 2006

Moody's Upgrades Brazil Foreign Currency Ceiling to Ba1. 

July 10, 2006

EMTA's Special Presentation on “Brazil’s Capital Markets” in London on October 16, 2006. 

June 28, 2006

Fitch Upgrades Brazil's Long-Term Foreign Currency Rating to BB. 

May 12, 2006

Special Presentation on Brazil’s Capital Markets 

  • Click Here to View the Presentation by ANDIMA
  • Click Here to View the Presentation by Banco Pactual S.A.
  • Click Here to View the Presentation by Banco Votorantim S.A.
  • Click Here to View the Presentation by Banco Itau, S.A.
  • Click Here to View the Presentation by CETIP

EMTA and ANDIMA Collaborate to Facilitate Foreign Investment in Brazil's Local Capital Markets. 

April 12, 2006

EMTA to Hold a Special Presentation on “Brazil’s Capital Markets” in New York City on May 12, 2006. Click Here to Register.

March 8, 2006

Brazil Redeems Remaining Brady Bonds. 

February 28, 2006

Standard & Poor's Upgrades Brazil's Long-Term Foreign Currency Rating to BB. 

February 23, 2006

Brazilian Treasury Statement on Brady Bonds. 

February 16, 2006

Brazilian Government Issues Executive Order on Taxation. 

October 4, 2005

"Focus on Brazil: A Landmark Debt Placement." September 26, 2005 - Michael Gavin (UBS). 

September 15, 2005

Brazil to Redeem All Outstanding C-Bonds on October 15, 2005. 

October 21, 2004

EM Sovereign Bond Charts for Brazil and Mendoza (a Province of Argentina).

September 17, 2004

Standard & Poor's Raises Brazil's Long Term Foreign Currency Rating to BB-, Stable Outlook. 

June 24, 2004

EM Sovereign Bond Chart for Brazil. 

April 15, 2004

"A Political View of the Lula Administration in 2004." Presentation by Murillo de Aragao (Latin Source and Arko Advice) at the EMTA Spring Forum. 

February 18, 2004

EMTA Announces NDF Market Practice 33, Publishes BRL Revised Template Terms for BRL Non-Deliverable FX Transactions, Amended BRL Settlement Rate Options for Annex A, New BRL Industry Survey Rate Methodology and New BRL Indicative Survey Rate Methodology. 

January 23, 2004

Brazil Press Release on Brady Bonds (Only Available in Portuguese). Relevant Documentation if Brazil Decides to Repurchase C-Bonds.

January 22, 2004

Brazil C-Bond Redemption -- Procedures and Relevant Documentation if Brazil Decides to Redeem such Bonds. For information on Brazil’s Bonds generally, see EMTA’s Primer. 

August 25, 2003

EM Sovereign Bond Documentation Charts for Brazil and Guatemala.

June 12, 2003

EM Sovereign Bond Documentation Charts for Brazil and Mexico. 

May 23, 2003

EM Sovereign Bond Documentation Charts for Brazil, Mexico and South Africa, as well as for 2000 Ecuador and Russia. 

May 2, 2003

EM Sovereign Bond Documentation Charts for Brazil and Mexico.

December 3, 2002

Primer on Brazil’s USD Par and Discount Bonds, Capitalization Bonds, Eligible Interest Bonds and Debt Conversion Bonds. 

June 26, 2002

Brazil Dominates Discussion at EMTA's Summer Forum in London.
Transcript of Buy-Side Panel
Transcript of Sell-Side Panel 

October 31, 2000

Arminio Fraga, President of the Central Bank of Brazil, Will Speak at EMTA's Annual Meeting on December 7, 2000. Click for full schedule of speakers. 

October 23, 2000

Market Practice and New EMTA Template Terms for Brazilian Real NDFs. 

April 12, 2000

EMTA Recommends Market Practices for Brazil C-Bonds with a Final Capitalization Factor of 1.23141. 

March 14, 2000

EMTA, ISDA and FX Committee Announce Addition of New Brazilian Real Rate Source Definition. 

February 8, 2000

EMTA TEMPLATE TERMS for BRL Non-Deliverable FX Transactions. 

April, 1994

Market Practices for pricing and settlement of Brazil C Bonds. 

November 18, 1992

Market Practices for the settlement date of when-issued trades of bonds to be issued under Brazil's 1989/1990 interest arrangements. 

September 8, 1993

Market Practices for trading eligible interest under the Brazil 1992 Financing Plan. 

Market Practices for when-issued trades of bonds to be issued under the Brazil 1992 Financing Plan. 

May 20, 1993

Market Practices for (a) changes to the confirmation forms for FRB's distributed on April 15, 1993, (b) options, and (c) pricing and settlement of Brazil IDU bonds. 

October 1992

Market Practices for exchange date of when-issued trades of bonds to be issued under Brazil's 1989/1990 interest arrangements. 




DOCUMENTATION INDEX
 

Legal Memorandum prepared by EMTA’s Brazilian Counsel on Cross-Border and Local Securities Financing Transactions (12/4/96)

Legal Memorandum prepared by EMTA’s Brazilian Counsel on Cross-Border and Local Derivatives and FX Transactions (7/31/96)