Circular Letter No. 2326 — Clarifies the Application of the Monetary Fine Established by Circular No. 2212 of 06/08/92

CIRCULAR LETTER NO. 002326

TO
MULTIPLE BANKS WITH COMMERCIAL PORTFOLIO, COMMERCIAL BANKS AND SAVINGS BANKS.

CLARIFIES THE APPLICATION OF THE MONETARY FINE ESTABLISHED BY CIRCULAR NO. 2,212, OF 06.08.92.

TAKING INTO ACCOUNT THE PROVISIONS OF CIRCULAR NO. 2,212, OF 06.08.92, WE CLARIFY THAT:

ART. 1. FOR INCLUSIONS/ALTERATIONS MADE BEFORE DATA RELATING TO ALL DAYS OF THE CALCULATION PERIOD ARE INFORMED, THE PREVIOUS EXIGIBILITY PRIOR TO THE PROCESSING OF EACH INCLUDED/ALTERED POSITION SHALL BE CONSIDERED IN THE CALCULATION OF THE ABSOLUTE DEVIATION RELATIVE TO THE NEW EXIGIBILITY.

ART. 2. THE MONETARY FINE SHALL BE DUE FOR EACH DAILY POSITION INCLUDED/ALTERED WITH DELAY, REGARDLESS OF WHETHER ITS PROCESSING OCCURS BEFORE OR AFTER THE BEGINNING OF THE RESPECTIVE MOVEMENT PERIOD, SUCH THAT THE OCCURRENCE OF INCLUSIONS/ALTERATIONS IN MORE THAN ONE DAY OF THE CALCULATION PERIOD SHALL IMPLY THE APPLICATION OF AS MANY FINES AS THERE ARE DAYS WITH ALTERED DATA.

ART. 3. THE MONETARY FINE SHALL ALWAYS BE DEBITED ON THE NEXT BUSINESS DAY FOLLOWING THE PROCESSING OF THE INCLUSION/ALTERATION, CORRECTED BY THE DAILY REFERENCE RATE (TRD) OF THE DATE IT IS DUE -- THE NEXT BUSINESS DAY FOLLOWING THE DATE OF THE ALTERED POSITION -- UNTIL THE DAY OF THE DEBIT (EXCLUSIVE), EXCEPT FOR THE CASE OF APPLICATION OF THE MINIMUM MONETARY FINE, WHICH SHALL BE CORRECTED IN THE MANNER ESTABLISHED IN ARTICLE 4 OF THIS CIRCULAR LETTER.

ART. 4. THE MINIMUM MONETARY FINE REFERRED TO IN PARAGRAPH 4 OF ARTICLE 1 OF CIRCULAR NO. 2,212 CORRESPONDS TO THE VALUE OF CR$ 500,000.00 (FIVE HUNDRED THOUSAND CRUZEIROS) UPDATED BY THE DAILY REFERENCE RATE (TRD) ACCUMULATED IN THE PERIOD FROM 10.08.92 (INCLUSIVE), THE DATE OF PUBLICATION OF CIRCULAR NO. 2,212 IN THE FEDERAL GAZETTE, UNTIL THE DATE OF THE EFFECTIVE DEBIT (EXCLUSIVE).

ART. 5. FINANCIAL INSTITUTIONS EXEMPT FROM COMPULSORY DEPOSIT IN ACCORDANCE WITH THE PROVISIONS OF ARTICLE 11 OF CIRCULAR NO. 2,043, OF 23.09.92, DO NOT EXEMPT THEMSELVES FROM THE APPLICABILITY OF THE MONETARY FINE ESTABLISHED BY CIRCULAR NO. 2,212.

ART. 6. THIS CIRCULAR LETTER ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION.

BRASILIA (DF), OCTOBER 09, 1992.

DEPARTMENT OF BANKING OPERATIONS

MARCELO MARTINS CURVELO
HEAD