BCB Resolution No. 314 — Governs Check Clearing Services at Compe and Operational Issues

BCB RESOLUTION NO. 314, OF APRIL 26, 2023

Governs the execution of check clearing services presented to the Check Clearing Centralizer (Compe) and operational issues related to checks.

The Collegiate Board of the Central Bank of Brazil, in a session held on April 26, 2023, based on arts. 11, item VI, of Law No. 4.595, of December 31, 1964, 51 of Law No. 4.728, of July 14, 1965, and 5 and 10 of Law No. 10.214, of March 27, 2001,

R E S O L V E:

CHAPTER I
OBJECT AND SCOPE OF APPLICATION

Art. 1. This Resolution governs the execution of check clearing services presented to the Check Clearing Centralizer (Compe) and other operational issues related to checks.

Art. 2. For the purposes of this Resolution, the following are considered:

I - acceptance: the validation process, by the recipient (drawee financial institution), of a check to be cleared, regarding the quality of its image and other requirements that, if not met, may justify its return;

II - capture: the process of obtaining, by the sender (receiving financial institution), by computerized means, the image and information of the check, for transmission to Compe;

III - branch: the drawee branch, to which the deposit account of the check issuer is linked;

IV - recipient or drawee financial institution: the participant against whom the check is drawn and to whom the relevant information and image are sent;

V - return: the process by which the drawee financial institution (recipient) informs Compe of the non-acceptance of the check and the corresponding reason;

VI - check information: electronic records containing the printed data, value, and date written on the check;

VII - master: the attorney-in-fact of the participant with powers to decide on behalf of the represented party in matters related to check clearing at Compe;

VIII - participant: any of the institutions referred to in art. 6 of this Resolution;

IX - reception: the process of receiving, by the recipient (drawee financial institution), the image and information of the check;

X - sender or receiving financial institution: the participant that receives the check for deposit and sends the corresponding information and image to Compe;

XI - representative: a third party hired by the participant to execute, in its name, the procedures for transmission and reception of images and information of checks at Compe;

XII - transmission: the process of sending the image and information of the check to Compe;

XIII - processing: the analysis process, by the operator and participants, of the image and information of the check;

XIV - exchange: the procedure by which the sending participant informs Compe of the checks it has received, drawn against other participants; and

XV - truncation: the procedure by which the receiving institution retains the paper check and presents the digital image and other electronic records related to the check to the drawee institution.

CHAPTER II
PAYMENT OF CHECKS PRESENTED TO COMPE

Section I - The Compe System

Art. 3. Compe is the system responsible for interbank check clearing.

§ 1. The interbank check clearing process comprises the capture, transmission, reception, processing, and acceptance of the image and information of checks, as well as the determination of the relevant bilateral and multilateral results.

§ 2. The financial result of Compe's daily clearing cycle is also affected by adjustments related to differences regarding cleared checks and by the payment of fees and representation services within the system, carried out in accordance with the procedures established in the Compe manuals.

Art. 4. Compe is operated by Banco do Brasil S.A., the operator and manager of check clearing services in accordance with current legislation.

Sole paragraph. The operator must guarantee the reliability, accuracy, security, and integrity of its processes and the information transmitted through Compe.

Art. 5. The operator of Compe must publish on its website the information processed by Compe of interest to the market and not protected by bank secrecy or any other type of legal secrecy.

Section II - Participants

Art. 6. Institutions holding Bank Reserve accounts or Settlement Accounts, in which deposit accounts movable by check are maintained, or that issue administrative checks, are obliged to participate in Compe.

§ 1. Participation in Compe is conditioned on prior certification by the Compe operator.

§ 2. The participant is identified by a code number assigned by the Central Bank of Brazil.

§ 3. The decree of intervention or extrajudicial liquidation of a participant implies its immediate exclusion from Compe, observing the provisions of art. 37.

Art. 7. The certification referred to in § 1 of art. 6 must be based on tests, in order to guarantee the reliability, accuracy, security, and integrity of the transmission, reception, and return processes and of the information under the responsibility of the financial institution.

§ 1. The tests must be documented and sent to the Central Bank of Brazil for the purposes of surveillance of the Brazilian Payments System, and the documentation may be destroyed after inspection at Compe.

§ 2. The operator is responsible for controlling financial institutions' access to Compe and for communicating to other participants the date on which the new participant will begin its operations.

§ 3. The operator must send to the Central Bank of Brazil, before releasing the participant's access to Compe, a declaration, signed by the statutory director responsible, stating that the financial institution has been duly certified.

Art. 8. The Central Bank of Brazil may suspend or exclude from Compe the participant that operates in disagreement with the rules applicable to clearing rooms and service providers for clearing and settlement, the regulations, and the Compe manuals, respecting the right to due process and full defense.

Sole paragraph. In the case of the main text, the readmission of the financial institution to Compe depends on authorization from the Central Bank of Brazil.

Art. 9. Each participant must indicate its master to Compe, and the operator may refuse the proposed name or request, at any time, the substitution of the indicated person, in both cases in a justified manner.

Art. 10. The participant may indicate as a representative another participant or an association of financial institutions, regardless of associative ties.

Sole paragraph. The operation carried out through a representative does not exempt the represented participant from its obligations towards Compe.

Section III - Interbank Check Clearing

Subsection I - Clearable Items and Truncation

Art. 11. Check forms clearable at Compe must be produced with the quality required by the image digitization process.

Sole paragraph. Any changes related to the quality of check forms must be agreed upon within the Compe Group referred to in art. 42 and published by the operator.

Art. 12. The receiving financial institution must retain the paper check and present to the drawee financial institution, through Compe, the digital image and other electronic records.

§ 1. The procedures mentioned in the main text must be carried out in accordance with the truncation rules.

§ 2. Truncation must be carried out in conformity with the procedures, specifications, and security requirements approved within the Compe Group.

§ 3. The operator must publish, for Compe participants, the procedures, specifications, and security requirements referred to in § 2.

§ 4. The transmission of the image and information of the check to Compe supersedes the signature of the sending participant for all legal purposes and makes it responsible, towards the recipient, for the regularity of the series of endorsements attached to the transmitted check.

§ 5. The image and information of the check may only be transmitted or retransmitted by another participant, other than the one indicated in the special crossing, when the check contains a mandate endorsement.

Subsection II - Processing Cycle

Art. 13. At least one processing cycle must be carried out daily for interbank check clearing, regardless of the value.

§ 1. The processing cycle referred to in the main text must be carried out according to schedules, criteria, and procedures established in the Compe manuals, comprising:

I - the exchange session;

II - the return session;

III - the prevention and impediments session, which aims exclusively to meet requests for opposition, revocation, and cancellation of checks;

IV - the adjustments session, which aims to transmit document registration files for financial difference adjustments related to cleared documents, identified in an exchange or return session;

V - the financial adjustments session, which aims to carry out, in the same processing cycle, financial adjustments between participants, resulting from erroneous postings; and

VI - the results session, which aims to make available synthetic information regarding the finished session and the values of the charges determined.

§ 2. The schedules of the sessions of the processing cycle referred to in § 1 of this article must be established in a way to guarantee final settlement at the time defined in art. 33.

§ 3. Without prejudice to the provisions of § 2, the operator may alter the schedules of the sessions of the processing cycle referred to in § 1 of this article, previously communicating this to the Central Bank of Brazil.

Art. 14. The contingency of the processing cycle is used in situations of systemic unavailability of the participating financial institution.

§ 1. The participant must communicate the operational unavailability to the operator and request the activation of the processing cycle contingency.

§ 2. The entry of the participant into the processing cycle contingency will imply the postponement of the processing of its financial result to the next processing cycle.

§ 3. The causes of occurrences that justify the operational unavailability of the participating financial institution must be informed to the operator, which, from the third activation in thirty days, will report them to the Central Bank of Brazil.

§ 4. The schedules, criteria, and procedures of the processing cycle contingency are established in the regulation and manuals of Compe.

Art. 15. In the event of Compe inoperability, checks not exchanged during this event must be forwarded to the system on the day its normal operation is restored.

§ 1. The occurrence of Compe inoperability must be communicated to the Central Bank of Brazil and to participants at the moment it is detected by the operator.

§ 2. In the case of the main text, the period for blocking values deposited in checks, referred to in art. 30, is extended until the next business day following the restoration of the system.

Art. 16. Compe processing cycles that include Ash Wednesday, December 24, when a business day, and the last business day of the year will follow the procedures defined in the Compe manuals.

§ 1. There must be a Compe processing cycle on December 24, when a business day, and on Ash Wednesday.

§ 2. The schedules and procedures referred to in this article must be established by common agreement with participants and published by the operator.

§ 3. The financial settlement of the obligations referred to in art. 32, on December 24, when a business day, and on the last business day of the year, will undergo the necessary adjustments to accommodate the procedures defined in the Compe manuals, observing the operating hours of the Reserve Transfer System.

Subsection III - Exchange Session

Art. 17. Checks must be forwarded to Compe through electronic files containing the corresponding images and information, captured by the sending participant in accordance with the exchange routines and standards contained in the Compe manuals.

Art. 18. The check exchange session between participants is processed through the transmission and reception of electronic files containing the relevant images and information.

Art. 19. In the process of check exchange between Compe participants, it is the responsibility:

I - of the receiving financial institution:

a) to capture reliable images and information of the checks received by it, in accordance with the standards contained in the Compe manuals;

b) to transmit to the operator a file containing the images and information of the checks referred to in item "a", in accordance with the layout contained in the Compe manuals;

II - of the drawee financial institution: to receive, process, and accept the images and information regarding checks drawn against it, including with regard to irregularities and frauds;

III - of the operator:

a) to process the files forwarded by senders, containing the checks received by them for deposit; and

b) to generate and transmit, to each recipient, the relevant return file, containing the checks drawn against it.

Subsection IV - Return Session

Art. 20. The return session must be carried out, obligatorily, on the business day following the exchange.

Art. 21. In the process of check return between Compe participants, it is the responsibility:

I - of the receiving financial institution:

a) to process the return file transmitted by the operator, containing checks received by it that were returned by the recipients; and

b) to stamp the return stamp on each physical check, indicating the reason informed by the recipient;

II - of the drawee financial institution:

a) to transmit to the operator a file containing information on checks in return, indicating the corresponding reasons; and

b) to include the check issuer in the Register of Issuers of Checks Without Funds (CCF), when applicable;

III - of the operator:

a) to process the files containing information on checks in return forwarded by participants; and

b) to generate and transmit, to participants, the relevant return files.

Art. 22. The drawee financial institution must return the non-accepted checks to the receiving financial institution by the business day following the exchange.

§ 1. In the event of Compe inoperability, checks whose return deadline expires on the day of inoperability may be returned on the first business day following the regularization of the situation that caused the inoperability, provided that the operator timely communicates the inoperability to participants.

§ 2. Checks returned due to operational problems of the sender or recipient cannot be returned to the client nor have their blocking period altered.

§ 3. Participants may have one additional business day for return when it is a local holiday, in the drawee city, on the date of exchange or on the following business day.

Art. 23. The receiving financial institution must indicate the date of presentation and the reason for return of the check by means of a stamp affixed to the back of the stub.

Art. 24. The returned check must be available to the beneficiary-depositor within one business day, from the end of the blocking period, at the branch of the financial institution where the check was received.

§ 1. The receiving financial institution must, upon client request, make the returned check available at the branch of the financial institution with which the client maintains a relationship, within:

I - two business days from the date of request, in the case of a deposit made in the same city as the client's relationship branch; or

II - seven business days from the date of request, in the case of a deposit made in a city distinct from that where the client's relationship branch is located.

§ 2. The check may be returned at another branch, by agreement between the client and the receiving financial institution, and the return of the document to the client is not subject to a regulatory deadline.

Art. 25. Institutions participating in Compe must post a notice in a visible location in their premises, as well as communicate to clients through other available customer service channels, with clear, precise, prominent, and Portuguese language information, regarding the rule referred to in art. 24.

Art. 26. The return carried out irregularly by the recipient participant may be challenged by the sending participant:

I - in the adjustments session of the following business day;

II - within a period of sixty days, when, proven, any type of fraud related to the endorsement of the check is detected; and

III - at any time, when the check is returned outside the established deadlines.

§ 1. Financial adjustments resulting from challenges must be made on the date of the challenge.

§ 2. Except for financial adjustments resulting from the challenges provided for in the main text, any eventual divergences must be eliminated after the closing of clearing, through understanding between the involved participants.

Art. 27. Checks that are not returned by the business day following the date of exchange are considered settled, observing the provisions of art. 22.

Art. 28. Checks must be settled even when there is a discrepancy between the value expressed in figures and the value expressed in words.

Sole paragraph. The eventual difference referred to in the main text, verified as a consequence of the processing of the check in question for the value expressed in figures, must be regularized between the parties.

Art. 29. Any losses resulting from differences identified at Compe must be subject to reimbursement through agreement between the parties, observing the remuneration limits currently in the market.

Subsection V - Blocking of Values Deposited in Checks

Art. 30. The blocking period for the value of the check cannot exceed one business day, counted from the day following the presentation of the check by the beneficiary to the receiving financial institution.

§ 1. The period referred to in the main text will be added by one business day, if a local holiday occurs in the city where the drawee branch is located during the normal blocking period.

§ 2. The Compe operator must daily publish to participants a register containing the codes of branches and municipalities where municipal holidays will occur, for the purposes of blocking deposits made with checks.

§ 3. Deposits made in checks that suffer blocking for periods longer than those established in this article must be remunerated by the Selic Rate, for each day exceeding the allowed blocking period.

Art. 31. The payment of a check drawn against another branch of the receiving financial institution must observe the same maximum blocking and return periods provided for checks drawn against other participants.

Sole paragraph. The periods provided for in the main text may be reduced by agreement between the receiving financial institution and the beneficiary-depositor.

Section IV - Financial Settlement

Art. 32. The financial settlement of Compe results is carried out using resources deposited in a linked account at the Central Bank of Brazil, whose deposits will be made by the participant through the Reserve Transfer System.

Art. 33. The financial settlement of the obligations referred to in art. 32 occurs at 4:30 PM on the business day following the start of the exchange session.

Art. 34. The results determined at Compe may be adjusted before their effective settlement at the Central Bank of Brazil, according to Compe manuals.

Sole paragraph. The implementation of the adjustment must always have the formal manifestation, addressed to the operator, of the two institutions involved.

Art. 35. The settlement referred to in art. 32 observes the following procedures:

I - the operator must inform the Central Bank of Brazil and each Compe participant by 3:20 PM of the bilateral and multilateral results relating to the exchange session started on the previous business day;

II - participants must provide the linked account with sufficient resources for the financial settlement of their interbank obligations relating to the exchange session started on the previous business day by 4:15 PM;

III - if the value available in the linked account of any participant, at the time indicated in item II, is insufficient for the corresponding settlement, the Central Bank of Brazil will exclude it from the settlement process and inform each of the other participants of this occurrence and the new multilateral net result determined;

IV - in the case provided for in item III, the non-excluded participants must provide, whenever necessary, the linked account with sufficient resources for the financial settlement of their interbank obligations, up to ten minutes after the publication, by the Central Bank of Brazil, of the new multilateral result; and

V - the process established in items III and IV is repeated until the balance provided in the linked account of all holders is sufficient for the financial settlement of their interbank obligations.

Art. 36. The Central Bank of Brazil may alter the times provided for in this section, including with regard to specific dates, when extraordinary facts so justify.

Art. 37. At the moment of participant exclusion resulting from the decree of intervention or extrajudicial liquidation, as provided in art. 6, § 3, if there is a multilateral result already approved but not yet settled in accordance with this section, the Central Bank of Brazil will exclude the participant from the settlement process, following the same procedure described in items III, IV, and V of art. 35.

Sole paragraph. Any resources existing in the linked account will be transferred to:

I - the Bank Reserve account or to the Settlement Account of the institution, when available; or

II - the demand deposit account indicated for this purpose, otherwise.

Art. 38. The participant excluded as a result of intervention or extrajudicial liquidation will participate in the processing cycle following the moment of its exclusion only for the purposes of return, without any financial effect, of checks forwarded and received in the cycle whose multilateral result was reprocessed in the manner of art. 37.

§ 1. For the return referred to in the main text, reason 24 (judicial block or determination of the Central Bank of Brazil) must be used.

§ 2. The reason referred to in § 1 must also be used for the return, to clients, of checks previously received and that did not reach the exchange.

Art. 39. Any irregularity capable of affecting the operational capacity and position of participants must be informed by the operator to the Central Bank of Brazil for examination and adoption of the appropriate measures.

Section V - Reimbursement of Operational Costs (RCO)

Art. 40. The operator's expenses regarding the operational costs of check clearing will be reimbursed by participants.

Sole paragraph. The definition of the system for apportionment and reimbursement of costs will be contained in the Compe manuals.

Art. 41. The return of a check is subject to the reimbursement of operational costs to the executor, which shall benefit Compe, whose value and responsibility must be established in its manuals.

Sole paragraph. The reimbursement of operational costs for the return of a check to the clearing house shall be charged:

I - to the drawee financial institution, when the non-payment of the check is caused by the issuer; or

II - to the receiving financial institution, when the non-payment of the check is caused by the beneficiary-depositor.

Section VI - Consultative Group for Clearing Affairs

Art. 42. The Compe Group is constituted by financial institutions that maintain checking accounts negotiable by check, to opine on issues related to Compe.

Art. 43. It is the responsibility of the Compe Group:

I - to express opinions on matters related to Compe, when requested by the Central Bank of Brazil or by the executor;

II - to submit, on its own initiative, to the Central Bank of Brazil or to the executor, depending on the nature of the matter, studies or suggestions aimed at the continuous improvement of Compe;

III - to constitute subgroups of its members, on a permanent or provisional basis, to collaborate in the study and appreciation of specific matters, observing the need and convenience; and

IV - to draft its internal regulations.

Art. 44. The Compe Group is composed of the following members:

I - one representative of the executor, with the duties of coordinator;

II - one representative of the National Federation of Banks (Fenaban)/Brazilian Federation of Banks (Febraban);

III - one representative of the Brazilian Association of Banks (ABBC);

IV - one representative of the Brazilian Association of International Banks (ABBI); and

V - seven representatives indicated by the entities Fenaban/Febraban, ABBC and ABBI, jointly, through a process coordinated by the executor, selected according to the total of documents sent and received, via Compe, being:

a) one representative of Compe participating institutions among those with low volume;

b) three representatives of Compe participating institutions among those with medium volume; and

c) three representatives of Compe participating institutions among those with high volume.

§ 1º Participants are classified as low, medium, or high volume, according to the percentage of representativeness of each participant in relation to the total of documents sent and received, via Compe, in the previous year, by all participants, observing the following criteria:

I - low volume: up to 0.5% (five tenths of a percent);

II - medium volume: above 0.5% (five tenths of a percent) and up to 5% (five percent); and

III - high volume: above 5% (five percent).

§ 2º The Central Bank of Brazil may indicate a server to act as an observer, who may participate in meetings and other activities developed by the Compe Group.

Art. 45. The executor must publish, in February of each year, the list of Compe participants, containing, at a minimum, the name, the quantity of documents sent and received, and the respective percentage of representativeness, relative to the previous year, classified in descending order by said percentage.

CHAPTER III
OF THE PROCEDURES FOR RETURN OF CHECKS PRESENTED FOR PAYMENT

Art. 46. When refusing payment of a check, the receiving financial institution must register, on the back of the check, in a dated declaration, the code corresponding to the reason for the return, according to the list contained in the Annex of this Resolution.

§ 1º In the case of a check presented to the teller, the registration must be made with the consent of the beneficiary.

§ 2º The financial institution will use the code corresponding to the reason provided in the Compe regulations and manuals when it concerns a reason not provided for in the Annex of this Resolution.

Art. 47. When refusing payment of a check, the drawee financial institution must:

I - keep a record of the occurrence in the case of checks returned for reasons 11 to 14; and

II - provide for immediate communication to the issuer in the case of checks returned for reasons 12 to 14, with a view to regularizing the situation.

CHAPTER IV
OF THE PROCEDURES RELATED TO THE STAYING OR REVOCATION OF CHECKS

Art. 48. Drawee financial institutions must observe the following procedures regarding checks subject to staying or revocation:

I - check subject to a request for provisional staying or revocation not expired and not yet confirmed: proceed with return for reason 70;

II - check subject to a request for provisional staying or revocation expired and not confirmed in accordance with current regulations: carry out the normal procedures applied to checks received for settlement, considering any request for staying or revocation nonexistent;

III - check subject to a confirmed request for staying or revocation, when presented for the first time or after having been returned for reason 70: proceed with the return, as the case may be, for reasons 20, 21 or 28;

IV - check previously returned for reason 21 and re-presented: verify the existence of any cancellation of the staying or revocation and, if affirmative, carry out the normal procedures applied to checks received for settlement, or, otherwise, proceed with the return for reason 43; and

V - check previously returned for reasons 20 or 28: proceed with the return for reason 49.

CHAPTER V
OF THE PROCEDURES RELATED TO THE CONTRACTING OF CHECK CLEARING SERVICES BY CREDIT COOPERATIVES

Art. 49. Credit cooperatives that offer their depositors an interbank check clearing service, by contracting multiple banks, commercial banks, or the Federal Savings Bank (Caixa Econômica Federal) for the execution of services related to Compe and other payment clearing and interbank transfer systems, must maintain, at the contracted financial institution, a deposit account with the specific purpose of processing checks and transfers carried out under the agreement signed.

Sole paragraph. The contract signed between the credit cooperative and the financial institution providing check clearing and settlement services must provide:

I - the conditions for the use of the return reasons established in this Resolution and the consequences arising therefrom;

II - the immediate termination of the contract in the event of non-compliance with a clause expressly identified as essential for the execution of clearing services; and

III - the commitment by the contracted financial institution to, in the event of voluntary termination of the contract, continue to perform, for a minimum period of three months, the settlement of checks possibly issued on sheets presenting its clearing number, provided that the cooperative maintains the supply of the necessary funds in the account mentioned in the caput of this article.

Art. 50. The contracted financial institution must immediately inform the Central Bank of Brazil of the contractual default of the credit cooperative in the clearing agreement.

CHAPTER VI
OF FINAL PROVISIONS

Art. 51. The following are revoked:

I - Circular No. 1,451, of February 28, 1989;

II - Circular No. 1,528, of August 24, 1989;

III - Circular No. 1,591, of March 9, 1990;

IV - Circular No. 1,844, of November 14, 1990;

V - Circular No. 1,856, of December 6, 1990;

VI - Circular No. 1,976, of June 20, 1991;

VII - Circular No. 2,065, of October 17, 1991;

VIII - Circular No. 2,094, of December 5, 1991;

IX - Circular No. 2,250, of November 18, 1992;

X - Circular No. 2,313, of May 26, 1993;

XI - Circular No. 2,989, of June 28, 2000;

XII - Circular No. 3,029, of March 22, 2001;

XIII - Circular No. 3,226, of February 18, 2004;

XIV - Circular No. 3,266, of December 15, 2004;

XV - Circular No. 3,284, of May 6, 2005;

XVI - Circular No. 3,306, of December 29, 2005;

XVII - Circular No. 3,334, of December 5, 2006;

XVIII - Circular No. 3,532, of April 25, 2011;

XIX - Circular No. 3,535, of May 16, 2011;

XX - Circular No. 3,657, of May 27, 2013;

XXI - Circular No. 3,733, of November 26, 2014;

XXII - Circular No. 3,859, of November 27, 2017;

XXIII - BCB Resolution No. 18, of September 22, 2020; and

XXIV - Circular Letter No. 1,923, of May 12, 1989.

Art. 52. This Resolution enters into force on October 2, 2023.

Otávio Ribeiro Damaso Renato Dias de Brito Gomes

Director of Regulation Director of System Organization

                                                                                  Financial and Resolution

Diogo Abry Guillen

Director of Monetary Policy

ANNEX TO BCB RESOLUTION NO. 314, OF APRIL 26, 2023
Codes corresponding to reasons for check return

Group	Code	Reason	Explanation of reason
Check without fund provision	11	Check without funds – 1st Presentation.	Check without funds presented only once.
12	Check without funds – 2nd Presentation.	Check without funds presented on two different dates.
13	Account closed.	Used when the account is closed and there is no other reason to justify the return.
14	Spurious practice.	Used when one of the following hypotheses occurs: I - more than 3 (three) checks without funds with a value of up to R$3.41 (three reais and forty-one cents) are presented on the same day, drawn against the same deposit account; or II - 3 (three) or more checks without funds with a value of up to R$3.41 (three reais and forty-one cents) have already been paid on different dates, due to "commitment of immediate acceptance".
Payment impediment	20	Check not signed by the holder of the drawee account, stayed or revoked due to theft, robbery, or loss of blank check sheets.	Used in the return of a check subject to staying or revocation, carried out through a declaration signed by the holder of the drawee account, regarding the theft, robbery, or loss of blank check sheets.
21	Counter-order (or revocation) or opposition (or staying) to payment by the issuer or the bearer.	Used in the return of a check subject to staying or revocation carried out through a declaration signed by the issuer or legitimate bearer, for any reason alleged by him.
22	Divergence or insufficiency of signature.
23	Checks issued by entities and bodies of the direct and indirect federal public administration, in disagreement with the requirements contained in art. 74, § 2º, of Decree-Law No. 200, of February 25, 1967.
24	Judicial block or determination by the Central Bank of Brazil.
25	Cancellation of checkbook by the drawee bank.
28	Check stayed or revoked due to theft, robbery, or loss, after effective issuance.	Used in the return of a check effectively issued by the customer, subject to staying or revocation carried out through a declaration signed by the issuer or beneficiary regarding the theft, robbery, or loss.
70	Provisional staying or revocation.	Used in the return of a check subject to provisional staying or revocation, whose confirmation period has not expired and whose confirmation has not yet been carried out, under the conditions established in current regulations. Provisional staying cannot be renewed or repeated regarding the same check.
Check with irregularity	31	Filling error (no issue date, month written numerically, absence of signature, no registration of the value in words or incomplete).
33	Endorsement divergence.
34	Check presented by a banking establishment other than the one indicated in the black crossing, without the mandate endorsement.
35	Fraudulent check, with data scratched or adulterated, or used for a purpose different from its issuance, or not manufactured by the drawee.
Improper presentation	41	Check presented to a bank other than the drawee.
43	Check previously returned for reasons 21, 22, 23, 24, 31, 34 and 71, not subject to re-presentation due to the persistence of the reason for return.
44	Expired check.	Used in the return of a check presented after 6 (six) months have elapsed from the expiration of the presentation period.
45	Check issued by an entity obliged to carry out movement and use of national treasury financial resources through a banking order.
48	Check with a value greater than R$100.00 (one hundred reais), issued without the identification of the beneficiary.
49	Null remittance, characterized by the re-presentation of a check returned for reasons 12, 13, 14, 43, 44, 45 and 72, the return may occur at any time.
To be used directly by the contracted financial institution	71	Contractual default of the credit cooperative in the clearing agreement.	Applied to documents received exclusively on the date that non-compliance is verified, by the credit cooperative, of a clause of the contract considered essential for the execution of clearing services.
72	Clearing contract terminated.	Applied to the following cases: I - voluntary termination of the interbank check clearing contract between the credit cooperative and the financial institution participating in the clearing system, after the minimum period of 3 (three) months has elapsed; or II - documents received from the first day subsequent to the date on which documents were returned for reason 71.