Circular Letter No. 2442 — Clarification Regarding Electronic Bill Compensation

CIRCULAR LETTER NO. 002442

Clarification Regarding Electronic Bill Compensation.

Taking into account the provisions of Circular Letter No. 2,414, of 10/07/93, we inform you that the procedures to be observed in the implementation of Electronic Bill Compensation in the Regional Integrated Compensation Systems (SIRC) of Rio de Janeiro (RJ) and São Paulo (SP) are redefined as follows:

I - starting from 03/21/94, the financial institution that does not participate in Electronic Bill Compensation, with movements sent to other participants on the same day, will be subject to the payment of the fine provided for in MNI 6-2-10, applied to each slip sent in conventional form;

II - starting from the movement of 04/04/94, the Compensation Slips whose data are included in the logical file will be sent to their respective recipient banks on the day following the transmission of the file, at a time to be disclosed by the Operator of the Check and Other Papers Compensation Service (SCCOP), which cannot be later than the specific exchange session;

III - the schedule established in item 3 of the referenced Circular Letter is maintained;

IV - starting from 05/02/94, the Compensation Slips whose data are included in the logical file should not be sent to their respective recipient banks, remaining in the possession of the sender banks, in the capacity of faithful depositaries, for a period of 60 (sixty) days counted from the inclusion.

2. The SCCOP Operator is tasked with disclosing the routines necessary to comply with the provisions of this Circular Letter.

3. This Circular Letter enters into force on the date of its publication.

4. Item 7 of Circular Letter No. 2,414, of 10/07/93, is revoked.

Brasilia, February 22, 1994.

DEPARTMENT OF BANKING OPERATIONS

Luis Gustavo da Matta Machado
Chief