Circular Letter No. 3.002

CIRCULAR LETTER No. 003002 ------------------------ Discloses procedures regarding the provision of information relating to compulsory deposits, mandatory reserves and mandatory allocation of savings resources. In accordance with the provisions of the Regulation annexed to Resolution 2.519, of 29 June 1998, and Circulars 3.087, 3.088, 3.089, 3.090, 3.091, 3.092, 3.093 and 3.094, all of 1 March 2002, we clarify that, for the purposes of information, control of compliance with requirements, movement of funds and verification of the existence of possible financial costs due to deficiency and fines for irregularity in the provision of information to the Central Bank of Brazil regarding compulsory deposits, mandatory reserves and mandatory allocation of savings resources, addressed by the aforementioned regulations, financial institutions holding a Banking Reserves account must use the National Financial System Network (RSFN), using the specific messages of the Compulsory Deposit System (RCO), contained in the Brazilian Payment System Message Catalog. 2. For the purposes listed in the previous item, financial institutions not holding a Banking Reserves account must use transaction PRCO500, of the Central Bank Information System - Sisbacen. 3. For the specified purposes, a statement is understood as the set of information relating to a reference date, necessary for the calculation of the calculation base corresponding to each type of compulsory deposit and mandatory reserve and to the mandatory allocation of savings resources. 4. The message -RCO0002 - IF provides statement- must contain, at a minimum, the information relating to one statement and, at a maximum, the information relating to all statements of the corresponding calculation period. 5. In the event of presenting a zero balance for all accounting items subject to a certain type of compulsory deposit or mandatory reserve in a calculation period, the institution must report the corresponding statements, and is exempt from sending new statements from then on and while the respective balances equal to zero persist. 6. With regard to the allocation of savings resources, in the event of providing information on a consolidated basis by conglomerate, privatized banks that are part of a conglomerate and are still in the phased compliance stage of the allocation must report exclusively the balances of savings deposits under their responsibility, and only the lead institution is responsible for providing information about the investments of the entire group. 7. In the event provided for in the previous item, the conglomerate's requirement will be reported to the last institution in the group that provides information to the Central Bank of Brazil. It is incumbent upon the lead institution of the conglomerate to make any deposit of the non-allocated amount, calculated according to the consolidated information. 8. The factors used for the purpose of calculating the financial cost on deficiency in
complying with the requirement can be obtained by consulting transactions PTAX860 and PTAX880, of Sisbacen. 9. The transition from the current system of providing information to the Central Bank of Brazil to the one established in this circular letter shall observe the following procedures: I - demand deposits: a) the daily information of institutions in group -A-, relating to calculation period 2002/08, which begins on 15 April 2002 and ends on 26 April 2002, whose final deadline for submission to the Central Bank of Brazil ends on 23 April 2002, must be provided through message RCO0002. The provision of such information through transaction PRES520, of Sisbacen, starting from those relating to calculation period 2002/08, will be blocked; b) the daily information of institutions in group -B-, relating to calculation periods from 2002/08 onwards, which begins on 22 April 2002 and ends on 3 May 2002, whose final deadline for submission to the Central Bank of Brazil ends on 30 April 2002, must be provided through message RCO0002. The provision of such information through transaction PRES520, of Sisbacen, starting from those relating to calculation period 2002/08, will be blocked; II - judicial deposits: the statement corresponding to positions from that relating to April 2002, whose final deadline for submission to the Central Bank of Brazil ends on 14 May 2002, must be sent through message RCO0002 or transaction PRCO500, of Sisbacen; III - time deposits: the daily information relating to calculation periods from 2002/15 onwards, which begins on 15 April 2002 and ends on 19 April 2002, whose final deadline for submission to the Central Bank of Brazil ends on 25 April 2002, must be provided through message RCO0002 or transaction PRCO500, of Sisbacen. The provision of such information through transaction PRES527, of Sisbacen, starting from those relating to calculation period 2002/15, will be blocked; IV - savings resources: a) mandatory reserve: the daily information relating to calculation periods from that which begins on 15 April 2002 and ends on 19 April 2002, whose final deadline for submission to the Central Bank of Brazil ends on 26 April 2002, must be provided through message RCO0002 or transaction PRCO500, of Sisbacen. The provision of such information through transaction PPED500, of Sisbacen, starting from those relating to 15 April 2002, will be blocked; b) mandatory allocation: the statement corresponding to positions from that relating to April 2002, whose final deadline for submission to the Central Bank ends on 13 May 2002, must be sent through message RCO0002 or transaction PRCO500, of Sisbacen. The provision of this information through transaction PPED500, of Sisbacen, starting from that relating to the April 2002 position, will be blocked; V - guarantee by bank surety: the statement corresponding to positions starting from that relating to April 2002, whose final deadline for submission to the Central Bank of Brazil ends on 14 May
2002, must be sent through message RCO0002 or transaction PRCO500, of Sisbacen; VI - advances relating to exchange transactions: the information relating to dates from 18 April 2002, whose final deadline for submission to the Central Bank of Brazil ends on 19 April 2002, must be provided through message RCO0002 or transaction PRCO500, of Sisbacen. The provision of this information through transaction PRES527, of Sisbacen, starting from that relating to 18 April 2002, will be blocked; VII - resources from deposits and guarantees made: the daily information relating to calculation periods starting from 2002/08, which begins on 22 April 2002 and ends on 3 May 2002, whose final deadline for submission to the Central Bank of Brazil ends on 7 May 2002, must be provided through transaction PRCO500, of Sisbacen. The provision of this information through transaction PRES595, of Sisbacen, starting from that relating to calculation period 2002/08, will be blocked. 10. Are revoked, as from 15 April 2002, Circular Letters 2.553, of 12 June 1995, and 2.615, of 13 February 1996. Brasília, 15 April 2002. Department of Banking Operations and Payment System Luis Gustavo da Matta Machado Head