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Securities
12 Months Ended
Dec. 31, 2017
Text block1 [abstract]  
Securities
7. SECURITIES

 

     2017      2016  

Investments

     

Current

     

Bank certificates of deposit (CDBs) (1)

     3        46  

Financial Notes (LFs) – Banks (2)

     303        728  

Treasury Financial Notes (LFTs) (3)

     740        193  

Debentures (4)

     11        45  

Others

     1        2  
  

 

 

    

 

 

 
     1,058        1,014  

Non-current

     

Financial Notes – Banks

     —          14  

Debentures

     30        17  
  

 

 

    

 

 

 
     30        31  
  

 

 

    

 

 

 
     1,088        1,045  
  

 

 

    

 

 

 

 

(1) Investments in CBDs accrue interest at CDI rate, which was 100.25% to 105.25% in 2017 (98.5% to 111% in 2016).
(2) Bank Financial Notes (Letras Financeiras, or LFs) are fixed-rate fixed-income securities, issued by banks and that accrue interest a percentage of the CDI. The LFs accreud interest of 102.01% to 112% of the CDI ratefor the year ended December 31, 2017 (104.25% to 112.7% for the year ended December 31, 2016).
(3) Treasury Financial Notes (LFTs) are fixed-rate securities, their yield follows the daily changes in the Selic rate between the date of purchase and the date of maturity.
(4) Debentures are medium- and long-term debt securities, which give their holders a right of credit against the issuing company. The debentures have remuneration varying from 104.25% to 161.54% of the CDI rate in 2017 (104.25% to 113% in 2016).

Note 30 provides further information on these securities. Investments in securities of related parties are shown in Note 29.