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Non Resident Investors Handout

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The Non-Resident Investors' Handout presents basic information on the Brazilian Debt and Federal Public Bonds Market. It is designed to introduce foreign investors to the main aspects regarding local debt market access and how to proceed to invest on it. It also points out the main regulations and websites the investor should look at in order to find out more about the market characteristics and its requirements.

This report provides international investors with a summary of Brazilian Federal Public Debt (“FPD”) and the process of investing in Brazilian government bonds. The report is divided in to eight sections and two appendices. The first section presents a brief overview of Brazil’s economy, exchange system, and the main interest rates used in the domestic markets. The following section introduces the main bodies in Brazil’s Financial System and their role for the well-functioning of the same. The third section is an overview of the Federal Public Debt, and it is followed by the section that presents the forms of issuance of the FPD. The fifth section provides an overview of the secondary market of the government bonds. The fundamental objective of debt management and the strategic planning of the National Treasury are presented in the sixth section. The legal framework for non-resident investors in Brazil’s government securities is addressed in the seventh section. Finally, the eighth section addresses taxation matters.

Appendix I provides key legislation and regulation that apply to non-resident investors. A market glossary is presented in Appendix II.

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