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Pioneering Solution – Collateral Management - Clearstream

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OTC Derivatives Market in Brazil<br />

CETIP HISTORICAL DATA OF OTC DERIVATIVES MARKET – Notional Outstanding Amounts - U$ Billion<br />

Brazilian FX Crises<br />

U$/R$ - 1,68; Inflation – 0,3%<br />

p.m.; 3,66% p.a.; Interest<br />

Rate – 27,21% p.a.<br />

Lula’s First Government<br />

U$/R$ - 3,59; Inflation –<br />

1,52% p.m.; 20,56% p.a.;<br />

Interest Rate – 25,85% p.a.<br />

Global Credit Crises<br />

U$/R$ - 1,619<br />

OTC Derivatives – Quo vadis<br />

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