Circular Letter No. 1635 — Establishes Deadlines for Checks and Payment Orders Processed via the National Clearing System and Regarding Improperly Exchanged or Returned Documents

Circular Letter No. 1,635, of May 28, 1987

CIRCULAR LETTER NO. 1,635

To

Financial Institutions Participating in the Check and Other Paper Clearing Service

We communicate that checks and payment order receipts payable through the National Clearing System must be exchanged in the specific sessions referred to in MNI 4–3–6–6. These documents must receive a special stamp on the reverse, containing the name of the capital of the State or Territory where the exchange must be carried out and the date of the business day immediately preceding the date of the exchange.

2. The values related to checks payable through the National Clearing System may be recorded in the subsection "Specific Exchange Session" of account 4.03.27.00–4 – PAYMENT CLEARING – YOUR REMITTANCE, of the Chart of Accounts for Commercial Banks (COBAN), in accordance with the provisions of Circular Letter No. 1,359, of February 25, 1986.

3. The deadlines for returning checks payable through the National System contained in document No. 2 of MNI 4–3 are increased by 1 (one) day and must be counted in business days, starting from the date contained in the special stamp, inclusive.

4. Subject to the provisions in the following item, document returns must be carried out in the night exchange session and their values included in the financial result to be accounted for on the first business day following.

5. Documents improperly exchanged and/or returned may be returned and/or challenged in the specific exchange session of the first business day following, with accounting of the financial result on the same day of such return and/or challenge.

6. It should be noted that document returns carried out irregularly remain subject to the provisions of MNI 4–3–7–3–a, b, and c for the purpose of challenges.

7. The measures hereby authorized shall take effect from a date to be published by the Executive Agent.

Brasília (DF), May 28, 1987.

DEPARTMENT OF BANKING OPERATIONS

José Costa de Oliveira

CHIEF

This text does not replace that published in the DOU and in Sisbacen.