Circular Letter No. 3816 — Clarifies Implementation of the Standard on Financing the Outstanding Balance of Credit Card Bills and Other Post-Paid Payment Instruments

The Head of the Department of Financial System Regulation (Denor), using the authority granted by Article 23, item I, letter "a" of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 84,287, of February 27, 2015, and considering the provisions of Resolution No. 4,549, of January 26, 2017,

R E S O L V E S:

Article 1. The remaining balance of revolving credit from financing operations through installment credit lines, as provided for in Article 2 of Resolution No. 4,549, of January 26, 2017, corresponds to the unpaid bill balance, plus the respective interest charged during the period.

Article 2. The amount to be paid by the customer at each bill due date must be composed of the sum of the following values:

I - revolving credit balance plus the respective interest charged during the period;

II - installments related to financing of the outstanding balance from previous periods, carried out in accordance with Article 2 of Resolution No. 4,549, of 2017; and

III - at least 15% of purchases and other transactions made during the period.

Article 3. The issuing institution of a post-paid payment instrument must provide customers, in contracts and respective statements or monthly bills, the information necessary for understanding the new system established by Resolution No. 4,549, of 2017, and the available options for settling financial obligations, highlighting the possibility of financing the bill at any time, as well as its settlement through other credit modalities.

Sole Paragraph. Institutions must ensure adequate conditions for the exercise of the customer's option to settle the bill at any time before the subsequent due date.

Article 4. The provisions of Resolution No. 4,549, of 2017, apply to cards issued by stores (known as private label) when the financing of the bill involves a financial institution.

Article 5. This Circular Letter enters into force on the date of its publication.

             Sílvia Marques de Brito e Silva