Circular Letter No. 2.346

CIRCULAR LETTER NO. 002346 ------------------------ TO THE FINANCIAL INSTITUTIONS PARTICIPATING IN THE CHECK AND OTHER DOCUMENTS CLEARING SERVICE. DISCLOSES NEW PROCEDURES ON THE ADMISSION OF A BANK BRANCH TO THE CHECK AND OTHER DOCUMENTS CLEARING SERVICE. TAKING INTO ACCOUNT THE PROVISIONS OF CIRCULAR NO. 772, OF 08.04.83, AND OF MNI 6-2-1-30, WE INFORM THAT: ART. 1. THE PARTICIPATION OF A BANK BRANCH IN THE CHECK AND OTHER DOCUMENTS CLEARING SERVICE DEPENDS ON PRIOR AUTHORIZATION FROM THE DEPARTMENT OF BANKING OPERATIONS. SOLE PARAGRAPH. THE AUTHORIZATIONS SHALL BE COMMUNICATED DIRECTLY TO THE EXECUTING PARTY, WHICH SHALL BE RESPONSIBLE FOR DISCLOSING THEM TO THE PARTICIPANTS OF THE SERVICE. ART. 2. THIS CIRCULAR LETTER ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION. BRASILIA(DF), 27 JANUARY 1993. DEPARTMENT OF BANKING OPERATIONS JOSE ANTONIO MARCIANO CHIEF, ACTING