Circular CIRMO 3-42: Monetary Circulation Update

“2011 – Year of Decent Work, Health and Worker Safety” COMMUNICATION “A” 5178 28/01/2011 TO FINANCIAL ENTITIES:
Ref.: Circular
CIRMO 3 - 42
Monetary Circulation. Update.

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We address you to inform you that, in accordance with what is established in Communications “A” 5127 and “A” 5146, related to the obligations for financial entities to provide free of charge the service of sale and management of the “cancelatory check” and to display informational signs about the basic characteristics of that service, points 8.10. Sale and management service and 8.11. Advertising are incorporated into Section 8 of the norms on “Monetary Circulation”. We send you the sheets that, in replacement of those previously provided, must be incorporated into the ordered text of the reference. In this regard, it is recalled that on the website of this Institution www.bcra.gov.ar, accessing “regulations” (“ordered texts”), the modifications made with text highlighted in special characters (strikethrough and bold) will be found. We salute you attentively. CENTRAL BANK OF THE ARGENTINE REPUBLIC Darío C. Stefanelli Julio C. Pando Manager of Issuance Manager of Norms Principal Manager of Systems of Payment and Current Accounts

ANNEX

-Index
8.7. Loss, theft or destruction of the cancelatory check.
8.7.1. Obligations of the dispossessed holder.
8.7.2. Obligations of the financial entity.
8.8. Seizures.
8.9. Collection of CC with opposition.
8.10. Sale and management service.
8.11. Advertising.
Correlation table.
B.C.R.A.
ORDERED TEXT OF THE NORMS ON
“MONETARY CIRCULATION”
Version: 6th COMMUNICATION “A” 5178
Validity:
28/01/2011

8.9. Collection of CC with opposition.
8.9.1. In the event that the legitimate final beneficiary of a CC with opposition does not have the physical instrument and has carried out the actions specified in point 8.7.1.
-“obligations of the dispossessed holder”-, they may present it for its collection management at the BCRA.
8.9.2. In the event that the CC with opposition presented for collection has an endorsement certified by a public notary, certification of the notary’s signature must be requested from the beneficiary, prior to payment, at the College of Notaries, without prejudice to verifying compliance with what is established in point 8.4.1. of these norms.
In the event that the CC with opposition presented for collection does not have an endorsement certified by a public notary, the actions described in point 8.9.4. will be carried out.
8.9.3. In the event that it has been confirmed in the consultation of the cancelatory checks database that the CC presented for collection is in the state “Seized”, it must be verified against what was informed by the aforementioned consultation whether the beneficiary holder is the one who is seized. If not, payment will be made after executing the actions established in point 8.4.1. of these norms. If the holder of the CC is seized, the actions described in point 8.9.4. must be carried out.
8.9.4. The financial entity must retain the CC with opposition presented for collection, under the responsibility of the complainant, and make a duplicate photocopy of the front and back of said document.
Deliver to the presenter a receipt and a copy of the screen of the consultation to the database administered by the BCRA of cancelatory checks with opposition, duly signed and stamped by the entity. Send within 5 calendar days the retained CC with opposition to the BCRA -Treasury Department-, via note (original and copy) with the letterhead of the presenting entity, which must be countersigned with signatures registered at the Central Bank and in which at least its numbering, amount, and date of integration must be detailed.

8.10. Sale and management service.
Financial entities must provide free of charge the service of sale and management of the cancelatory check.

8.11. Advertising.
8.11.1. Financial entities must display in the headquarters of all their branches, in the places of access to the premises and where account opening, deposit and payment procedures are carried out, informational signs -which must not be less than 29.8 cm in base by 42 cm in height- about the basic characteristics of the “cancelatory check”.
For the purpose of having the signs in the mentioned dimensions, they must enter the exclusive site https://www3.bcra.gov.ar.

MONETARY CIRCULATION
B.C.R.A.
Section 8. Cancelatory checks.
Version: 3rd COMMUNICATION “A” 5178
Validity:
28/01/2011

8.11.2. Model of informational sign.

MONETARY CIRCULATION
B.C.R.A.
Section 8. Cancelatory checks.

MONETARY CIRCULATION
B.C.R.A.
Section 8. Cancelatory checks.
Version: 1st COMMUNICATION “A” 5178
Validity:
28/01/2011

MONETARY CIRCULATION
ORDERED TEXT ORIGIN NORM
Section Point Paragraph Com. Chapter Point Paragraph
OBSERVATIONS
8.1.2. - Annex
“A” 3201

• 1.2. - According to Com. “A” 5130
  8.1.3. - “A” 5130 - - - -
  8.2. - “A” 3201 - - - According to Com. “A” 5130
  8.2.1. - “A” 3201 - 1. - According to Com. “A” 5130
  8.2.2. - “A” 3202 - - - According to Com. “A” 5130
  8.2.3. - “A” 3210 - - - According to Com. “A” 5130
  8.2.4. - “A” 3201 - - - According to Com. “A” 5130
  8.3. - “A” 3201 - - - According to Com. “A” 5130
  8.3.1. - “A” 3201 - 5. - According to Com. “A” 5130
  8.3.2. - “A” 3201 - 6. - According to Com. “A” 5130
  8.3.3. - “A” 3201 - 7. - According to Com. “A” 5130
  8.3.4. - Annex
  “A” 3201
• 3. • According to Com. “A” 5130
       8.4. - “A” 3201 - - - According to Com. “A” 5130
       8.4.1. - “A” 3201 - 8. - According to Com. “A” 5130
       8.4.2. - “A” 3201 - 9. - According to Com. “A” 5130
       8.4.3. - “A” 3201 - 10. - According to Com. “A” 5130
       8.5. - “A” 3201 - - - According to Com. “A” 5130
       8.6. - “A” 3201 - 13. - According to Com. “A” 5130
       8.7. - “A” 3201 - - - According to Com. “A” 5130
       8.7.1. - “A” 3201 - 14. - According to Com. “A” 5130
       8.7.2. - “A” 5130 - - -
       8.8. - “A” 3201 - - - According to Com. “A” 5130
       8.9. - “A” 3201 - 16. - According to Com. “A” 5130
       8.10. “A” 5127 4. 2nd. According to Com. “A” 5178
       8.
       8.11. - “A” 5146 - - - According to Com. “A” 5178