Circular Letter No. 3577 — Discloses Procedures for Identifying Credit Conditions Backing Real Estate Credit Letters (LCI)

The Head of the Department of Financial System Monitoring (Desig), in exercise of the powers conferred by Article 22, item I, clause "a" of the Internal Regulations of the Central Bank of Brazil (BCB), annexed to Ordinance No. 29,971 of March 4, 2005, pursuant to Article 7 of Circular No. 3,614 of November 14, 2012,

R E S O L V E:

Art. 1 Entities responsible for the administration of financial asset registration and settlement systems, for the identification of the conditions of the credit or credits backing the issuance of Real Estate Credit Letters (LCI), as provided for in item III and § 4 of Article 4 of Circular No. 3,614 of November 14, 2012, must send to the Central Bank of Brazil (BCB), as provided for in Article 6 of that Circular, at minimum, the following information:

I - contract code;

II - operation modality;

III - credit type;

IV - client code;

V - date of operation contracting;

VI - operation maturity date;

VII - contracted value;

VIII - residual value;

IX - base date for the residual value;

X - reference rate or index;

XI - index percentage;

XII - effective annual rate.

§ 1 The information related to items I, II, and IV to VII and X to XII must be provided observing the guidelines regarding the corresponding fields in the layout of document code 3040 - Credit Risk Data, according to the version available on the BCB website, at the address http://www.bcb.gov.br/?SCR.

§ 2 The information related to item III must be provided observing the classification provided for in item II of Article 4 of Circular No. 3,614 of 2012.

§ 3 The residual value, provided for in item VIII, is equivalent to the sum of the values presented in the "Maturity Values" field of document code 3040.

§ 4 The base date for the residual value, provided for in item IX, corresponds to the base date of the information sent, presented in the "Attributes of Document 3040" field of that document.

Art. 2 The information provided for in items II and III of Article 4 of Circular No. 3,614 of 2012 must be updated, at least, with data referring to the last day of each month.

Art. 3 This Circular Letter enters into force on the date of its publication.

     Lúcio Rodrigues Capelletto