Regulatory Alerts2020-04-28 | Circular 4008Circular No. 4008 — Establishes special rules on making returned checks available to customers during the public health risk situation caused by the new Coronavirus (Covid-19)
The Board of Directors of the Central Bank of Brazil issued Circular No. 4008 to temporarily modify regulations regarding returned checks during the Covid-19 public health emergency. The directive mandates that participating institutions make returned checks available to depositing customers within one business day after the blocking period ends, effective until September 30, 2020. Financial institutions are required to prominently display notices and inform clients through all available communication channels about these temporary rules.
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