Circular Letter No. 1506 — Amendments to the MNI

Circular Letter No. 1506, dated November 18, 1986.

CIRCULAR LETTER NO. 1,506

To
Financial Institutions Participating in the Check and Other Papers Clearing Service

1. We establish the increase by 2 (two) days of each of the return deadlines for checks liquidated through the National Clearing System, as governed by document No. 2 of MNI 4-3, thereby eliminating, consequently, the extension of return deadlines for documents drawn on this System in cases of municipal holidays and system unavailability.

2. We also communicate that in cases of unavailability in a Regional Integrated Clearing System:
   a) documents accepted during the period of unavailability may be exchanged in the session of the next business day following the regularization of the situation that caused the unavailability; b) documents, whose deadline for return expires on the day of the unavailability, may be returned on the first business day following the regularization of the situation that caused the unavailability, provided that:
   I - the Operator communicates, in due time, to the Participants, the route with unavailability; and II - the drawee bank communicates, in due time, to the remitting bank, the occurrence of the unavailability and identifies the document being returned.

3. We also inform you of the elimination of interconnection of Regional Integrated Systems, with the Interconnected Rio de Janeiro (RJ)/São Paulo (SP) System and the Interconnected Londrina (PR)/Maringá (PR) System being extinguished.

4. We further inform that returns of documents carried out irregularly may be challenged by the Participants:
   a) only during the return session itself, when:
   I - the reason for the return is not indicated or its indication is illegible or crossed out; II - the occurrence determines the inclusion of the account holder's name in the Register of Issuers of Bounced Checks - CCF and the check is not accompanied by the proper form; b) until the subsequent return session, which may occur on the same day, when:
   I - they do not appear as Senders;
   II - the Operator proves the non-existence of the municipal holiday alleged for their return; III - the existence or non-existence of funds is not marked on the back of the checks, except in cases where this indication is not mandatory; IV - the papers are being returned for adjustment of differences; c) at any time, when the papers are returned outside the established deadlines.

5. Adjustments resulting from challenges must be made in the session in which the challenge occurred.

6. At this opportunity, we are also promoting the following changes in chapter 3 of title 4 of the MNI:
   a) coding of the following normative instruments: Circular Letters Nos. 1,286, 1,365, 1,370 and 1,379 and Circular 1,033; b) modification in the wording and arrangement of items 1, 2, 3, 4, 5, 6, 13 and 14 of section 4-3-4 of the MNI; c) harmonization of the rule with the way in which the posting of Clearing results in the DINFI account (MNI 4-3-8-1) has been currently carried out; d) modification in the declaration of the compensation stamp (MNI 4-3-3-4-a and 4-3-3-9-b).

7. Items 3 and 4 of Circular Letter No. 992, dated February 13, 1984, and Circular Letter No. 1,321, dated December 18, 1985, are hereby repealed.

8. The measures now published shall enter into force from the date to be fixed by the Operator.

9. Consequently, the sheets necessary for the update of the Manual of Norms and Instructions (MNI) are attached.

Brasília (DF), November 18, 1986.
DEPARTMENT OF BANKING OPERATIONS
José Costa de Oliveira
CHIEF

This text does not replace the one published in the DOU and in Sisbacen