Circular Letter No. 2422 — Clarifies Procedures Regarding the National Clearing System

CIRCULAR LETTER NO. 002422

Clarifies procedures regarding the National Clearing System.

In view of the need to improve procedures related to the National Clearing System, disclosed through Circular No. 2,315 of May 26, 1993, we clarify that:

I - In the event of a local holiday at the centralizing office of the Regional Clearing System (SIRC), "CD - Return Communication" destined for that office shall be redirected to the SIRC centralizing office in São Paulo (SP), where, in this case, the corresponding checks must be physically delivered;

II - In the event of a local holiday at the SIRC centralizing office of the drawee agency, the issuance of "CD - Return Communication" for returns against banks present or represented there is permitted, directed to the SIRC centralizing office in São Paulo (SP), where, in this case, the corresponding checks must be physically delivered;

III - For National Clearing checks received at centralized offices on the date a local holiday occurs at the SIRC centralizing office, a "CR - Remittance Communication" may be issued, even if the drawee bank is present or represented in that chamber;

IV - When a local holiday occurs at the SIRC centralizing office in São Paulo (SP), "CD - Return Communication" and "CR - Remittance Communication" shall be cleared in the exchange session of the next business day following the event, at that centralizing office, clarified that the values corresponding to the respective "CR - Remittance Communication" shall be considered for the purpose of reducing the calculation base for the mandatory deposit of the drawee bank on the date of the holiday;

V - Solely for the purposes of National Clearing, the Local Clearing Systems of Manaus (AM), Palmas (TO), Porto Velho (RO), and Rio Branco (AC) are now considered as state capital SIRC offices, and may issue "CD - Return Communication" and "CR - Remittance Communication";

VI - Financial institutions located in non-integrated normal access offices may:

a) issue "CD - Return Communication", and the deadline for physical delivery of the respective check may be extended by up to 2 (two) business days beyond the normal deadline; and

b) issue "CR - Remittance Communication", and the deadline for physical delivery of the respective check shall be up to 4 (four) business days;

VII - Exclusively for the purposes of National Clearing, the Local Clearing Systems of Boa Vista (RR) and Macapá (AP) are not considered as state capitals, but as non-integrated normal access offices;

VIII - The return of "CR - Remittance Communication" may only occur during the daytime session;

IX - The endorsing bank of the check is obliged to accept the return of "CR - Remittance Communication" for reason "47 - absence or inconsistency of mandatory data";

X - Any improper return of "CR - Remittance Communication" will confer upon the remitting bank the right to promote financial adjustment with the drawee, through negotiable remuneration within the limits current in the market;

XI - The challenge of "CD - Return Communication" may occur both in the presentation session and in the daytime sessions preceding the physical delivery of the check, for the same reasons and deadlines established in MNI 6-2-7, insofar as applicable;

XII - The physical delivery of the check corresponding to "CR - Remittance Communication" or "CD - Return Communication" will occur obligatorily during the night session;

XIII - The improper challenge of "CD - Return Communication" will confer upon the drawee bank the right to effect the return of the check, within the deadline established for its physical delivery, as well as the right to promote financial adjustment with the endorsing bank, through negotiable remuneration within the limits current in the market;

XIV - In offices integrated into more than one SIRC, the shorter deadlines for blocking, return, and physical delivery of the check to the endorsing bank will prevail;

XV - In case of transport unavailability, timely communicated by the Operator of the Check and Other Papers Clearing Service (SCCOP), the period of unavailability may be added to the deadlines for blocking, return, and physical delivery of checks;

XVI - The returned check shall be available to the depositor, at the branch where the deposit was made, at the latest until the business day prior to double the deadline stipulated for blocking;

XVII - The table referred to in paragraph 3 of Article 1 of Circular No. 2,315, to be posted in bank branches in a location visible to the public, shall contain the following information:

Blocking Period for Deposit Made in Check of the National Clearing System.

Local of receipt	Drawee Office
	Capital of São Paulo	Capital of another State	Capital of own State	Interior of São Paulo	Interior of own State	Interior of another State
Capital of São Paulo	-	3	-	3	-	4
Capital of State, except São Paulo	3	4	-	4	3	5
Interior of São Paulo	3	4	-	4	-	5
Interior of State, except São Paulo	4	5	3	5	4	6

• Deadline in business days, counted from the day following the deposit.
• The returned check will be available to the depositor client, at the branch where the deposit was made, at the latest until the business day prior to double the deadline stipulated for blocking.
• In offices integrated into more than one SIRC, the shorter deadline prevails.
• In case of a local holiday at the drawee office, there will be an addition of one business day to the normal deadline.
• In non-integrated normal access offices, there may be an addition of up to two business days to the deadline.
• Checks drawn on difficult access offices will suffer a blocking period of twenty business days.
• In case of transport unavailability, timely communicated by the Operator, the deadlines for blocking, return, and physical delivery of the check will be added by the time the unavailability lasts.
• Exclusively for the purposes of National Clearing, the Local Clearing Systems of Boa Vista (RR) and Macapá (AP) are not considered as state capitals, but as non-integrated normal access offices.

2. It is incumbent upon the Operator of the SCCOP to disclose the procedures and routines necessary for compliance with the provisions of this Circular Letter.

3. The procedures addressed in this Circular Letter must be observed from the date of its publication.

Brasília, December 09, 1993

DEPARTMENT OF BANKING OPERATIONS

José Antonio Marciano
Acting Chief