The lending settlement fee is calculated as follows:



LF = settlement fee, in BRL;

Q = number of securities;

C = registered price quotation;

i = settlement fee rate (annual, 252 days);

n = number of business days between the registration (included) and settlement by multilateral net balance.

The settlement fee rate (i) to be considered depends on the type of lending, as shown below:

Type of loan Settlement fee Floor
Voluntary 0.25% p.a. BRL 10.00
Automatic 0.50% p.a. -