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Brazil National Monetary Council Simplifies Bank Branch Rules

Brazil’s national monetary council approved a resolution to simplify rules governing local branches, the bank said in a statement published today.

The head of central bank’s regulatory department, Sergio Odilon dos Anjos, said the measure could reduce banks’ costs by allowing them to choose the size of their local operations in line with local demand.

To contact the reporter on this story: Arnaldo Galvao in Brasilia Newsroom at agalvao1@bloomberg.net

To contact the editor responsible for this story: Philip Sanders at psanders@bloomberg.net

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