Circular Letter No. 2560 — Amends the Electronic Clearing Regulations of Circular No. 2,398 of December 29, 1993: Establishes Dates for the Expansion of Electronic Clearing of Collection Slips and for the Start of Electronic Clearing of Checks Above the Limit Value

CIRCULAR LETTER NO. 002560

Amends the regulations on electronic clearing governed by Circular No. 2,398 of December 29, 1993 - Establishes dates for the expansion of electronic clearing of collection slips and for the start of electronic clearing of checks with values above the limit value defined for specific exchange sessions and takes other measures.

We communicate that, considering the provisions of Article 2 of Circular No. 2,398 of December 29, 1993, Article 3 of the Regulation annexed to said Circular, and the initial paragraph of Circular Letter No. 2,414 of October 7, 1993:

I - from the movement of July 14, 1995, in the Integrated Regional Clearing System (SIRC) of São Paulo (SP), the clearing slips of collection slips whose data are included in logical files must remain in the possession of the remitting banks, as faithful depositaries, for a period of 60 (sixty) days counting from the date of the respective exchange session, microfilming being admitted, after which they may be destroyed;

II - in the other markets, until the date to be established for the start of retention, the clearing slips of collection slips whose data are included in logical files will be forwarded to their respective destination banks, in an exchange session at a time to be defined by the operator in common agreement with the participants of each SIRC, starting up to one hour after the closing of the exchange session;

III - if a contingency situation is declared by the Operator of the Check and Other Papers Clearing Service (SCCOP) in the SIRC of Rio de Janeiro (RJ):

a) the participants listed below must carry out direct file exchange, on magnetic media or by data teletransmission, direct exchange involving other participants being admitted, through negotiation between the parties:

1. ABBC - Brazilian Association of Commercial and Multiple Banks;

2. ASBACE - Brazilian Association of State Banks;

3. Banco Bamerindus do Brasil S.A.;

4. Banco Bradesco S.A.;

5. Banco de Credito Nacional S.A.;

6. Banco do Brasil S.A.;

7. Banco do Estado do Rio de Janeiro S.A.;

8. Banco Itau S.A.;

9. Banco Nacional S.A.;

10. Banco Real S.A.;

11. Caixa Economica Federal;

12. Unibanco - Union of Brazilian Banks S.A.;

b) the participants who carry out direct file exchange, in the manner of the preceding item, must process their movements using such files and the physical documents received from other participants who did not exchange files;

c) the participants not obliged to carry out direct file exchange must process their movements based on the physical documents received from other participants;

IV - the obligation to use the CADOC 24044-4 collection slip model is extended to the SIRC of Belo Horizonte (MG), Brasilia (DF), Curitiba (PR), Londrina (PR), Porto Alegre (RS), Recife (PE), Ribeirao Preto (SP) and Salvador (BA), observed that:

a) from December 1, 1995, all clearing slips of collection slips manufactured according to the CADOC 24044-4 model, accepted by the banking network, must be processed via electronic clearing, by all banks present or represented in those systems, by transmitting data to Rio de Janeiro (RJ) and São Paulo (SP);

b) the following minimum percentages of the "your remittance" movement of electronic collection of each participant must be reached, according to the schedule below:

1. until December 29, 1995 - 30%;

2. until January 31, 1996 - 50%;

3. until February 29, 1996 - 70%;

4. until March 29, 1996 - 100%;

V - from July 14, 1995, observing the dates indicated below, the banks present or represented in the SIRC listed below must process, via electronic clearing, all their movement of checks with values above the limit value defined for specific exchange sessions:

a) November 1, 1995 - São Paulo (SP);

b) January 3, 1996 - Rio de Janeiro (RJ);

c) March 1, 1996 - Belo Horizonte (MG), Brasilia (DF), Curitiba (PR), Londrina (PR), Porto Alegre (RS), Recife (PE), Ribeirao Preto (SP) and Salvador (BA);

VI - the participants of the SIRC listed below must transmit, from the dates indicated therein, the logical files to Rio de Janeiro (RJ) and São Paulo (SP):

a) January 3, 1996 - Rio de Janeiro (RJ) and São Paulo (SP);

b) March 1, 1996 - Belo Horizonte (MG), Brasilia (DF), Curitiba (PR), Londrina (PR), Porto Alegre (RS), Recife (PE), Ribeirao Preto (SP) and Salvador (BA);

VII - the title of Chapter II of the Regulation instituted by Circular No. 2,398 of December 29, 1993 is amended to "Electronic Clearing of Checks" and its Article 13 is revoked, with Articles 10 and 11 entering into force with the following wording:

"Article 10. In the impossibility of total or partial processing of the file, due to the responsibility of the remitting bank, or in the case of forwarding documents in the conventional manner, it is up to the destination bank to return the papers possibly in its possession and not to accept the respective debits and/or credits, if applicable, clarified that:

I - the papers must be returned for reason 64 - logical file not processed/partially processed;

II - the service fee related to the return of the documents in question is the responsibility of the remitting bank;

III - the destination bank, whenever prejudiced, may promote the adjustment with the remitter, through negotiable remuneration within the limits current in the market.

Article 11. The operator of the SCCOP is responsible:

I - for the faithful reproduction of the data transmitted or contained in the magnetic files forwarded by the remitting banks;

II - for the information of the financial result of the exchange to sensitize the Bank Reserves accounts with the Central Bank of Brazil;

III - for the provision of the magnetic files or transmission of the data related to the movement destined to each participant, at the determined time, except if a contingency and/or system unavailability is declared;

IV - for the reimbursement to the prejudiced participant due to non-compliance with the provisions contained in this article, through negotiable remuneration within the limits current in the market."

2. Reason 64 - logical file not processed/partially processed is instituted.

3. The operator of the SCCOP is tasked with establishing the procedures and routines necessary for compliance with the provisions of this Circular Letter.

4. This Circular Letter enters into force on the date of its publication, taking effect from the night exchange session of July 14, 1995.

5. Circular Letters Nos. 2,414 of October 7, 1993, and 2,451 of April 29, 1994, are revoked, from July 14, 1995.

Brasilia, July 6, 1995.

DEPARTMENT OF BANKING OPERATIONS

Luis Gustavo da Matta Machado
Chief