Circular Letter No. 2608 — Establishes Dates for the Expansion of Electronic Clearing of Collection Slips, Start of Electronic Clearing of Checks Above the Limit, and Implementation of DOC

CARTER-CIRCULAR NO. 002608

Establishes dates for the expansion of electronic clearing of collection slips, for the start of electronic clearing of checks with value above the limit defined for specific exchange sessions, and for the implementation of the Credit Document - DOC and other provisions.

Considering the provisions of Art. 3 of the Regulation annexed to Circular No. 2,398, of 12/29/93, and Circular No. 2,652, of 12/27/95, we communicate that:

I - starting from 01/12/96, all collection slip clearing cards, manufactured according to the CADOC 24044-4 model, may transit through clearing chambers, regardless of whether the ceding bank is present or represented in the Integrated Regional Clearing System (SIRC) of acceptance, and must be processed via electronic clearing, by teletransmission to Rio de Janeiro (RJ) and São Paulo (SP), with the respective clearing cards remaining in the possession of the remitting banks, in the capacity of fiduciary depositaries, for a period of 60 (sixty) days from the date of the respective exchange session, microfilming being admitted, after which they may be destroyed.

II - the mandatory use of the collection slip model CADOC 24044-4, currently restricted to the SIRC of Rio de Janeiro (RJ) and São Paulo (SP), is extended to the other SIRC in the country, observed that:

a) starting from 01/12/96, all collection slip clearing cards, manufactured according to the CADOC 24044-4 model, accepted by the banking network in the SIRC of Belo Horizonte (MG), Brasília (DF), Curitiba (PR), Londrina (PR), Porto Alegre (RS), Recife (PE), Ribeirão Preto (SP), Rio de Janeiro (RJ), Salvador (BA), and São Paulo (SP), must be processed via electronic clearing, by teletransmission of data to Rio de Janeiro (RJ) and São Paulo (SP);

b) the following minimum percentages of the "your remittance" movement of electronic collection for each participant must be reached, in the SIRC of Belo Horizonte (MG), Brasília (DF), Curitiba (PR), Londrina (PR), Porto Alegre (RS), Recife (PE), Ribeirão Preto (SP), and Salvador (BA), according to the schedule below:

1. until 01/31/96 - 40%;

2. until 03/29/96 - 80%;

3. until 04/30/96 - 100%;

c) starting from 05/02/96, all collection slip clearing cards, manufactured according to the CADOC 24044-4 model, accepted by the banking network in the other SIRC in the country, must be processed via electronic clearing, by teletransmission of data to Rio de Janeiro (RJ) and São Paulo (SP);

d) starting from the clearing movements indicated below, in the SIRC listed below, the clearing cards of the collection slips, whose data are included in the logical files, must remain in the possession of the remitting banks, in the capacity of fiduciary depositaries, for a period of 60 (sixty) days from the date of the respective exchange session, microfilming being admitted, after which they may be destroyed:

1. 01/12/96 - Belo Horizonte (MG), Brasília (DF), Curitiba (PR), Londrina (PR), Porto Alegre (RS), Recife (PE), Ribeirão Preto (SP), Rio de Janeiro (RJ), and Salvador (BA);

2. 05/02/96 - the other SIRC in the country, except São Paulo (SP), where the system has already been implemented since 07/14/95;

III - starting from the clearing movements indicated below, checks with value above the limit defined for specific exchange sessions, accepted by the banking network in the SIRC listed below, must be processed via electronic clearing, by transmission of data to Rio de Janeiro (RJ) and São Paulo (SP):

a) 03/01/96 - Rio de Janeiro (RJ) and São Paulo (SP);

b) 03/15/96 - Londrina (PR) and Salvador (BA);

c) 04/12/96 - Porto Alegre (RS) and Recife (PE);

d) 04/26/96 - Belo Horizonte (MG) and Curitiba (PR);

e) 05/10/96 - Brasília (DF) and Ribeirão Preto (SP);

IV - starting from the clearing movement of 04/03/96, the Credit Documents, models "C" and "E", accepted in any SIRC, regardless of whether the bank receiving the credit is present or represented in the SIRC of its acceptance, must be processed via electronic clearing, by teletransmission of data to Rio de Janeiro (RJ) and São Paulo (SP), with the documents included in the logical files remaining in the possession of the remitting banks, in the capacity of fiduciary depositaries, for a period of 60 (sixty) days from the date of the respective exchange session, microfilming being admitted, after which they may be destroyed.

2. Documents written in currency different from the current monetary standard must be returned for the reason "40 - invalid currency", and their return may occur at any time, prevailing, in the case of checks, this reason over those referring to insufficient funds.

3. The definition of the cost-sharing system of the Shared Mail Transport System is now the responsibility of the executor of the Check and Other Papers Clearing Service (SCCOP), hearing the Central Bank of Brazil/Banking Operations Department.

4. The executor of the SCCOP is tasked with establishing and disseminating the procedures and routines necessary to comply with the provisions of this Circular Letter.

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

6. Items IV and V of Circular Letter No. 2,560, of 07/06/95, and Circular Letters Nos. 2,267, 2,442, 2,468, and 2,603, of 04/07/92, 02/22/94, 06/27/95, and 11/29/95, respectively, are revoked.

Brasília, December 29, 1995.

DEPARTMENT OF BANKING OPERATIONS

Luis Gustavo da Matta Machado
Chief