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7. MARKETABLE SECURITIES
 12 Months Ended
Dec. 31, 2019
Disclosure of investment securities [abstract]  
MARKETABLE SECURITIES

7. MARKETABLE SECURITIES

 

    2019           2018  
Investments               
Current               
Financial Notes (LFs) – Banks (1)    645       435  
Treasury Financial Notes (LFTs) (2)   94       254  
Debentures (3)    –         11  
Others    1       4  
    740       704  
Non–current               
Financial Notes (LFs) – Banks (1)    11       109  
Debentures    2       –    
    13       109  
    753       813  

 

(1)      Bank Financial Notes (Letras Financeiras, or LFs) are fixed–  rate fixed–income securities, issued by banks and that accrued interest a percentage of the CDI rate published by Cetip. The LFs had remuneration rates varying between 101.95% and 113% of the CDI rate in 2019 (102% and 111.25% in 2018 and 102.01% to 112% in 2017).
(2)      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.
(3)      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 108.25% to 113% of the CDI Rate in 2019 (104.25% to 151% of CDI in 2018 and 104.25% to 161.54% of CDI in 2017).

 

Note 33 provides a classification of these marketable securities. Investments in marketable securities of related parties are shown in Note 32.