Circular No. 4018 — Amends Circulars No. 3,690 and 3,691 to Regulate Foreign Exchange Operations for Alienation of Seized Foreign Currency

The Collegiate Board of the Central Bank of Brazil, in a session held on May 13, 2020, based on Article 23 of Law No. 4,131 of September 3, 1962, Articles 9 and 11, item III, of Law No. 4,595 of December 31, 1964, Article 38 of Resolution No. 3,568 of May 29, 2008, and Article 3 of Resolution No. 4,808 of April 30, 2020,

RESOLVES:

Article 1. Circular No. 3,691 of December 16, 2013, shall enter into force with the following alterations:

“Article 32-B. In the formalization of the foreign exchange operation for the alienation of seized foreign currency as provided in § 1 of Article 60-A of Law No. 11,343 of August 23, 2006, for the purposes of foreign exchange regulation, the seller of the foreign currency shall be considered the Union, the State, or the Federal District, as applicable, represented by the judicial body that determined the conversion of the seized currency into national currency.

Sole Paragraph. The value limit provided in item “a” of item III of Article 34 of this Circular does not apply to the foreign exchange operation referred to in the caput of this article.” (NR)

Article 2. Annex XIII of Circular No. 3,690 of December 16, 2013, shall enter into force in the form of Annex I of this Circular.

Article 3. This Circular enters into force on June 1, 2020.

Otávio Ribeiro Damaso Director of Regulation

ANNEX I TO CIRCULAR NO. 4,018 OF MAY 13, 2020

ANNEX XIII TO CIRCULAR NO. 3,690 OF DECEMBER 16, 2013

Classification codes for special operations

NATURE OF OPERATION

CODE NO.

Adjustment of the foreign exchange position relative to operations with information sent by monthly file

99000

Assumption of debts

99176

Deposits at the Central Bank of Brazil - Circ. 3,691 of 16/12/2013

99671

BNDES-Exim chaining

99224

Proex chaining

99217

Others

99200

Payment of external debt for application in environmental projects

99183

Tourism agencies and tourism accommodation means - operations with banks and other institutions part of the SFN

33606

Alienation of seized foreign currency

99303