SELIC definition

SELIC means the rate assessed by the Brazilian Special Liquidation and Custody System (Sistema Especial de Liquidação e Custódia) – SELIC, published by the Central Bank of Brazil, obtained by calculating the adjusted weight average rate of one-day financing operations, backed by public federal bonds and traded in such system.

SELIC means the base interest rate of Sistema Especial de Liquidação e de Custódia – SELIC, as administered by the Central Bank of Brazil, or any other index that may replace it.

SELIC means interest computed in accordance with the interest rate of the Sistema Especial de Liquidação e Custódia, as published from time to time by Brazilian Council of Monetary Policy (Comite de Politica Monetaria); in the event that SELIC ceases to exist, it shall be replaced by the interest rate which officially replaces it in Brazil or, if no interest rate officially replaces SELIC in Brazil, it shall be replaced by the Brazilian interest rate which is closest to the concept of SELIC;

Examples of SELIC in a sentence

• Subsidiary CTEEP and its subsidiaries recognized liabilities related to amounts billed through tariffs (1% of Operating income, net), but not applied to the Research and Development Program (R&D), which are restated on a monthly basis as from the second month subsequent to their recognition up to the effective realization thereof, based on SELIC rate, according to ANEEL Resolutions No. 300/2008 and No. 316/2008.

• Its activities are carried out through its trading systems and clearinghouses, and include transactions with securities, interbank foreign exchange and securities under custody in the Special System for Settlement and Custody (SELIC).

• Contractual definition of currency in contracts with Brazilian National Bank for Economic and Social Development (“Banco Nacional de Desenvolvimento Econômico e Social or “BNDES”) that are in Brazilian Reais plus SELIC interest.

• Reimbursement will be made within 15 years and this amount is subject to monthly restatement at the SELIC rate.

• None Brazil Citibank, N.A., Sao Paulo Companhia Brasileira de Liquidaco e Custodia (CBLC) Center for the Custody and Financial Settlement of Securities (CETIP) Special Settlement and Custody System (SELIC) Bulgaria ING Bank Xxxxx Xxxxxx The Central Depository Bulgarian National Bank Burkina Faso Societe Generle de Banques Cote d'Ivoire, Abidjan Depositaire Central/Banque de Reglement (DCBR) Canada Royal Bank of Canada, Toronto Canadian Depository for Securities, Ltd.

More Definitions of SELIC

SELIC means the rate assessed by Selic, obtained by calculating the adjusted weighted average rate of one-day financing operations, backed by public federal bonds and traded in such system or in clearance houses and liquidation of assets as committed operations.

SELIC means the financing rate in the interbank market for transactions of one day or overnight backed by federal government securities and carried out in the SELIC - Brazilian Special Clearance and Escrow System or any other rate that may replace it.

SELIC means the monthly weighted average rate and adjusted for financing transactions, backed by federal public bonds established in the Special Settlement and Custody System, defined and calculated by the Central Bank of Brazil and published by SISBACEN.

SELIC means the interest rate equivalent to the reference interest rate of the Sistema Especial de Liquidação e Custódia for federal bonds of the Brazilian government.

SELIC means the Special Settlement and Custodial System (Sistema Especial de Liquidação e Custódia - SELIC) rate disclosed from time to time by the Monetary Policy Committee (Comitê de Política Monetária – COPOM), capitalized annually, or the interest rate replacing it;

SELIC means the fee calculated in the Special System of Settlement and Custody and obtained through the calculation of the adjusted and weighted mean rate of daily funding operations, based on government bonds and settled in the referred system or in assets’ clearing and settlement agencies, as matched transactions.

SELIC means Sistema Especial de Liquidação e Custódia, the basic interest rate of the Brazilian economy;