Circular Letter No. 3.420

CIRCULAR LETTER No. 003420 ------------------------ Discloses procedures and schedules to be observed, on special days, within the scope of the Reserve Transfer System - STR. Having regard to the provisions of art. 4 of Circular No. 3.100, of 28 March 2002 and art. 6 of Circular No. 3.440, of 2 March 2009, we clarify that, each year, the following procedures shall be observed on 24 December, if a business day for purposes of operations carried out in the financial market, and on the last business day of the year: I - the operating hours of the Reserve Transfer System - STR shall be from 6:30 a.m. to 2:30 p.m. and the recording of messages of the service groups shall comply with the time grids contained in the spreadsheet available at http://www.rsfn.net.br; II - on the last business day of the year, the STR shall not accept the recording of transfers by customer order, taking into account that there is no public service by the financial institutions; III - the results determined at the Check Clearing Center - Compe, related to the daytime session of that same day, shall be settled on the following business day, as follows: a) those of 24 December, together with the results of the nighttime session of that day, at the normal settlement time of this session; and b) those of the last business day of the year, at the normal settlement time of the nighttime session. IV - the constitution and release of the advance deposit for participation in the Compe sessions and for the financial settlement of the results determined in the nighttime session of the previous business day shall observe the pertinent normal procedures and schedules. 2. On Ash Wednesday, the STR shall observe its normal operating hours and the corresponding time grids. 3. This circular letter enters into force on the date of its publication. 4. Circular Letter No. 3.364, of 19 December 2008, is revoked. Brasília, 15 December 2009. Department of Banking Operations Department of Operations of the and Payment System Open Market José Antonio Marciano João Henrique de Paula Freitas Head Simão Head Department of Technology of the Department of Currency Information Jose Antonio Eirado Neto João Sidney de Figueiredo Filho Head Head Department of Operations of the Department of External Debt International Reserves and International Relations Ariosto Revoredo de Carvalho Ronaldo Malagoni de Almeida Head, substitute Cavalcante Head