Circular Letter No. 3.514

CIRCULAR LETTER No. 003514 ------------------------ Discloses procedures and schedules to be observed, on special days, within the scope of the Reserve Transfer System - STR. Taking into account the provisions of art. 4 of Circular No. 3.100, of 28 March 2002, and art. 33 of the Regulation of the Check Clearinghouse (Compe), annexed to Circular No. 3.532, of 25 April 2011, we clarify that, each year, the following procedures will 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 will be from 6:30 a.m. to 1 p.m. and the recording of messages of the service groups will follow the time grids contained in the spreadsheet available on the website of the Central Bank of Brazil on the internet (http://www.bcb.gov.br); II - the results determined at the Check Clearinghouse - Compe, related to the daytime session of that same day, will 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. III - the constitution and release of the prior 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 will observe the pertinent normal procedures and schedules. 2. On Ash Wednesday, the STR will 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. 3.420, of 15 December 2009, is revoked. Brasília, 4 July 2011. Department of Banking Operations Department of Operations of the and Payment System Open Market Flávio Túlio Vilela João Henrique de Paula Freitas Chief, substitute Simão Chief Department of Technology of the Department of the Means of Information Circulation Marcelo José Oliveira Yared João Sidney de Figueiredo Filho Chief Chief Department of Operations of the Department of Inter- Reserves International Affairs national Marcio Barreira de Ayrosa Moreira Wagner Thomaz de Aquino Guerra Chief Júnior Chief