Circular Letter No. 3505 — Clarifies Provisions of Resolution No. 3,919 of November 25, 2010

CARTER-CIRCULAR NO. 003505

Clarifies the provisions of
Resolution No. 3,919, of November 25, 2010.

In view of doubts raised by financial market institutions regarding Resolution No. 3,919 of November 25, 2010, and considering the provisions of Resolution No. 3,954 of February 24, 2011, we clarify that:

I - To comply with Article 19, item II, of Resolution No. 3,919 of 2010, the 2011 information regarding interest and other charges on credit and leasing operations, to be itemized in the consolidated statement made available by February 2012, may cover only events occurring in the second half of 2011, considering the validity of the new rules on credit cards starting from June 2011;

II - For the purpose of complying with provisions regarding priority services for "granting advances to depositors" and "emergency credit assessment," the period mentioned in the description of the triggering events for the respective services contained in Table I attached to Resolution No. 3,919 of 2010, may also correspond to the calendar month;

III - The free services provided for in Article 2, item I, letters "c" and "e," as well as item II, letters "c" and "e," of Resolution No. 3,919 of 2010, apply to any delivery channel, including through correspondents in the country;

IV - Article 9 of Resolution No. 3,919 of 2010 ensures the client's option to use and pay for individualized services, without the need for specific adherence to or contracting of a service package;

V - The values of tariffs related to the priority services referred to in Table I attached to Resolution No. 3,919 of 2010, including those related to credit cards, must be established in current currency, that is, in reais; and

VI - The provision of priority services for "Use of service channels for cash withdrawal in the credit function" and "Payment of bills using the credit function," provided for in Table I attached to Resolution No. 3,919 of 2010, may imply the contracting of a credit operation, subject to the collection of charges in accordance with current regulations.

2. Circular Letter No. 3,314 of April 30, 2008, is hereby revoked.

Brasília, April 29, 2011.

Department of Norms of the Financial System

Sergio Odilon dos Anjos
Head