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CASH AND CASH EQUIVALENTS (Tables)
 12 Months Ended
Dec. 31, 2021
Schedule of cash and cash equivalents

   2021  2020
Bank accounts   117    93 
Cash equivalents          
Bank deposit certificates (CDBs) (1)   625    1,416 
      Overnight (2)   81    171 
      Others   2    — 
 Short term investments   708    1,587 
 Cash and cash equivalents   825    1,680 

 

(1)Bank Deposit Certificates (CDBs), accrued interest at 70% to 109%, of the CDI Rate (Interbank deposit rates) published by the Custody and Settlement Chamber (Cetip) in 2021 (50% to 108% in 2020). For these CDBs, the Company has repo transactions which state, on their trading notes, the bank’s commitment to repurchase the security, on demand, on the maturity date of the transaction, or earlier.
(2)Overnight transactions are repos available for redemption on the following day. They are usually backed by Treasury Bills, Notes or Bonds and referenced to a pre-fixed rate of 8.87% to 9.14% in 2021 (1.89%, in 2020). Their purpose is to settle the short-term obligations of the Company, or to be used in the acquisition of other assets with better return to replenish the portfolio.