Circular Letter No. 2152 — Establishes New Procedures for the Check and Other Papers Clearing Service

CIRCULAR LETTER NO. 002152

FINANCIAL INSTITUTIONS PARTICIPATING IN THE CHECK AND OTHER PAPERS CLEARING SERVICE.

ESTABLISHES NEW PROCEDURES FOR THE CHECK AND OTHER PAPERS CLEARING SERVICE.

WE COMMUNICATE THAT, BASED ON CIRCULAR NO. 772 OF 08.04.83 AND MNI 6-2-1-21 (NEW), THE FOLLOWING PROCEDURES HAVE BEEN ESTABLISHED TO BE OBSERVED IN THE CHECK AND OTHER PAPERS CLEARING SERVICE:

ART. 1. SETTLEMENT OF DIFFERENCES FOUND IN THE CLEARING MOVEMENT, OF A VALUE EQUAL TO OR GREATER THAN 50 (FIFTY) TIMES THE LIMIT VALUE ESTABLISHED FOR CHECK EXCHANGE IN THE SPECIFIC SESSIONS, SHALL BE EFFECTED THROUGH A RESERVE MOVEMENT DOCUMENT (DMR), APPRECIATED FOR THE DATE OF OCCURRENCE, TO THE DEBIT/CREDIT OF THE BANKS INVOLVED, REGARDLESS OF COMMUNICATION.

SINGLE PARAGRAPH. IN THE CASE OF DIFFERENCES IDENTIFIED WITHIN THE SAME CLEARING MOVEMENT, AS WELL AS THOSE OF A VALUE LOWER THAN ESTABLISHED ABOVE, THE SETTLEMENT MUST BE EFFECTED USING THE DIFFERENCE ADJUSTMENT DOCUMENT (DAD).

ART. 2. THE PARTICIPANT IN THE CLEARING SERVICE WHO:

I - OPENS AN ENVELOPE WITHIN THE CHAMBER;

II - FAILS TO PROVIDE STATISTICAL DATA IN DUE TIME, OR PROVIDES IT WITH ERRORS;

III - LEAVES THE CHAMBER BEFORE THE END OF THE SESSION.

SHALL BE SUBJECT TO THE SANCTION PREVIEWED IN ALINEA "A" OF MNI 6-2-10-1.

ART. 3. THE FOLLOWING IRREGULARITIES ARE CONSIDERED THE RESPONSIBILITY OF THE SENDER:

I - THE FORWARDING OF DOCUMENTS IN QUANTITY EXCEEDING THAT ESTABLISHED FOR EACH BATCH;

II - THE USE OF STAPLES ON DOCUMENTS.

ART. 4. THIS CIRCULAR LETTER ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION.

BRASILIA (DF), MARCH 5, 1991

DEPARTMENT OF BANKING OPERATIONS

MARCELO MARTINS CURVELO
ACTING HEAD.