Circular Letter No. 1850 — Establishes the use of the mandatory reserve demonstrative form for calculating rural savings deposits

Circular Letter No. 1,850, of November 09, 1988

CIRCULAR LETTER NO. 1,850

To Banco da Amazônia S.A., Banco do Brasil S.A., Banco Nacional de Crédito Cooperativo S.A. and Banco do Nordeste do Brasil S.A.

As a result of the provisions of Resolution No. 1,188, of September 05, 1986, we clarify that the payment provided for in items b-I of item 1 of Circulars No. 1,130 and 1,255, of February 12, 1987 and November 17, 1987, respectively, with the new wording given by item 1 of Circular No. 1,366, of October 13, 1988, must be made on the 15th day of the month following the month in which the position was taken, or on the immediately following business day if the 15th is not a business day.

2. For the purpose of calculating the requirement, as provided for in items 5 of Circulars No. 1,130 and 1,255, with the new wording given by Circular No. 1,366, and observing the provisions of Circular Letter No. 1,831, of September 09, 1988, the "DEMONSTRATIVO DO EXIGÍVEL – MANDATORY RESERVE – Rural Savings Deposits" must be used, according to the attached model, to be sent to the Banking Operations Department (DEBAN) or to the Regional Department that has jurisdiction over the Institution, by the business day prior to the one scheduled for the payment in question.

3. If the demonstrative of the requirement is not delivered by the business day prior to the date scheduled for the payment, this will be made on the second business day following the date of delivery of the demonstrative, with the application of the penalty provided for in item IX of Resolution No. 1,220, of November 24, 1986, and in item 8 of Circular No. 1,098, of December 16, 1986, with the new wording given by item 5 of Circular No. 1,277, of January 05, 1988.

4. Observing the period established in item 1, the titles referred to in item 1-b-I of Circulars No. 1,130 and 1,255, with the new wording given by Circular No. 1,366, must be registered in the Special Settlement and Custody System (SELIC), through the Public Debt and Special Operations Department (DEDIP).

5. Circular Letter No. 1,784, of April 05, 1988, is hereby revoked.

Brasília (DF), November 09, 1988

BANKING OPERATIONS DEPARTMENT
José Costa de Oliveira
HEAD

PUBLIC DEBT AND SPECIAL OPERATIONS DEPARTMENT
Elmo Cavalcante Gomes
HEAD

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

Circular Letter No. 1,850, of November 09, 1988