CMN Resolution No. 4492 — Establishes the Obligation for Financial Institutions to Retain National Banknotes and Metallic Coins Deemed Counterfeit or of Dubious Legitimacy Found in Cash Under Their Responsibility

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the National Monetary Council, in a session held on May 31, 2016, considering the provisions of Article 4, item II, of Law No. 4,595 of 1964 and Article 289 of Decree-Law No. 2,848 of December 7, 1940 (Penal Code),

R E S O L V E S:

Article 1. The retention by financial institutions of national banknotes and metallic coins deemed counterfeit or of dubious legitimacy shall be governed by the provisions of this Resolution.

Article 2. Financial institutions holding Bank Reserves Accounts or Settlement Accounts shall retain national banknotes and metallic coins deemed counterfeit or of dubious legitimacy.

Sole Paragraph. The retained banknotes and metallic coins shall be delivered to the Central Bank of Brazil, within the timeframes and conditions established in specific regulation, provided they have not been subject to judicial or police request.

Article 3. In the event of a withdrawal, including at self-service terminals, where a banknote deemed counterfeit or of dubious legitimacy has been received, financial institutions must, at their own expense, replace it with a legitimate one immediately after its presentation by the customer.

Article 4. The Central Bank of Brazil is authorized to issue complementary norms necessary for the execution of the provisions of this Resolution.

Article 5. This Resolution enters into force on the date of its publication.

Alexandre Antonio Tombini
President of the Central Bank of Brazil