Banque de la République d’Haïti

CIRCULAR

No. 118-1

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TO FINANCIAL INSTITUTIONS

Pursuant to Articles 83, 99, and 161 of the Law of May 14, 2012 on Banks and Other Financial Institutions, Articles 44 and 47 of the Decree of November 25, 2020 on Foreign Exchange Intermediaries, Article 2 of the Decree of June 5, 2020 modifying certain provisions of the Decree of July 6, 1989 on Money Transfer Houses, and with reference to Circular 114-3, banks and money transfer houses are required to comply with the provisions of this Circular regarding the submission of reports related to international transfer and foreign exchange operations.

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1. Reports

1.1. Banks and money transfer houses are required to complete and send to the BRH electronically, according to the predefined format via the BSA software or through the use of Application Programming Interfaces (API):

• a daily report on transfers paid without consideration (Annex I)
  Submission deadline: the next business day at noon according to the report's reference date;

• a weekly report on the sale of dollars from the 30% allocated to the authorized agent and not remitted to sub-agents (Annex II)
  Submission deadline: the next business day at noon according to the report's reference date;

• a weekly report on the breakdown of dollar amounts paid to sub-agents for the equivalent of 30% of transfers paid by them (Annex III)
  Submission deadline: the next business day at noon according to the report's reference date.

1.2. Banks are required to complete and send to the BRH electronically via BSA or through the use of Application Programming Interfaces (API):

• a weekly report on withdrawals equal to or greater than ten thousand dollars (10,000.00 USD) made by sub-agents (Annex IV)
  Submission deadline: the next business day at noon according to the report's reference date;

• a weekly report on deposits exceeding one million gourdes (1,000,000.00 HTG) made into the accounts of exporters (Annex V)
  Submission deadline: the next business day at noon according to the report's reference date.

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2. Obligations of Banks and Money Transfer Houses

No later than eight (8) days after the publication of this Circular, banks and money transfer houses must submit to the BRH a list of their sub-agents including the following information: sub-agent name, TIN of the representative (the one who signed the contract with the authorized agent), address, phone number, email, account numbers, and name of the bank(s) where the account(s) is/are domiciled. A list containing the names and addresses of sub-agents will be transmitted by the BRH to each bank.

Banks are required to report to the BRH all withdrawals made on the accounts of sub-agents domiciled with them where the amount is equal to or greater than ten thousand United States dollars (10,000.00 USD).

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3. Sanctions

In the event of non-compliance with the obligations defined in this Circular, the institution concerned is subject to the following penalties:

a) Reliability of Information

At all times, the amounts declared in the forms provided in the annex must be those appearing in the institution's accounting books. If the amounts do not match, the BRH may, after an investigation into the circumstances and nature of the violation, impose a penalty of 50% of the difference between the declared amounts and the amounts appearing in the accounting books.

b) Delay in Report Transmission

Failure to provide, within the required timeframe, the compliance reports provided for in this Circular, the institutions concerned incur a penalty of fifty thousand gourdes (HTG 50,000.00) per day of infraction. The penalty period extends from the day the reports must be transmitted to the BRH to the day they are received.

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4. Repeal and Entry into Force

This Circular repeals Circular 118 and enters into force on September 5, 2022.

Port-au-Prince, August 23, 2022.

Jean Baden Dubois
Governor

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List of Annexes (to be submitted via BSA)

• Annex I: Daily Report on Transfers Paid (Without Consideration)
• Annex II: Weekly Report on the Sale of Dollars from the 30% Allocated to the Authorized Agent (Bank or Money Transfer House) and Not Remitted to Sub-Agents
• Annex III: Weekly Report on the Breakdown of Dollar Amounts Paid to Sub-Agents for the Equivalent of 30% of Transfers Paid by Them
• Annex IV: Weekly Report on Withdrawals Equal to or Greater Than 10,000 USD Made by Sub-Agents.
• Annex V: Weekly Report on Deposits Exceeding 1 Million Gourdes Made into Exporters' Accounts.

ANNEX I

DECLARATION FORM
TRANSFERS PAID (WITHOUT CONSIDERATION)
DAILY REPORT

Institution Name: _________________________

Day of: _________________________ Rate Applied: _________________________

| | Gourdes | Dollars |
|---|---|---|
| A. Total amount of transfers paid on dollar accounts | | XXXX |
| Bank 1 | | XX |
| Bank 2 | | XX |
| Bank 3 | | XX |
| | | |
| B. Total amount of transfers paid in gourdes (direct transfers) at the rate applied on the day (rate applied: ……) of which: | XXX | XXXX |
| | | |
| B.1 Amount of transfers (70%) to be remitted to financial institutions at the rate applied on the day | XXX | XXX |
| Financial Institution I | | XX |
| Financial Institution II | | XX |
| Financial Institution III | | XX |
| ... | | |
| | | |
| B.2 Amount of transfers allocated (30%) to the authorized agent (bank or money transfer house) of which: | XXX | XXX |
| a) Amount held by the authorized agent for its own account | | XX |
| b) Amount paid to sub-agents for the equivalent of 30% of transfers paid by them | | XX |
| | | |
| TOTAL AMOUNT OF TRANSFERS PAID (WITHOUT CONSIDERATION) | | XXXX |

ANNEX II

DECLARATION FORM
SALE OF DOLLARS FROM THE 30% ALLOCATED TO THE AUTHORIZED AGENT (BANK OR MONEY TRANSFER HOUSE) AND NOT REMITTED TO SUB-AGENTS
WEEKLY REPORT

Institution Name: _________________________

Period (week) from _______________ to _______________ Previous Balance Carried Forward: _________________________

| Total amount of 30% allocated for the week (in USD) |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
| Client Identification | Client Type (E, M, and A) | Total Sales for the Week | Sales Rate | Account No. | Bank |
| I. Transactions Equal to or Greater Than 10,000 Dollars |  |  |  |  |  |
| Client 1 |  |  |  |  |  |
| Client 2 |  |  |  |  |  |
| Client 3 |  |  |  |  |  |
| ..... |  |  |  |  |  |
| ..... |  |  |  |  |  |
| Sub-total Transactions > 10,000.00 Dollars |  | Sum (1, 2, 3, ...) | Average Sales Rate (Trans. I) |  |  |
| II. Other Transactions (Aggregated) |  | Sum II | Average Sales Rate (Others II) |  |  |
| Total Sales for the Week |  | Sum (I and II) | Average Sales Rate |  |  |
| B. Amount Not Yet Sold for the Week |  |  |  |  |  |

* E = Enterprises; M = Households and A = Others

ANNEX III

DECLARATION FORM
BREAKDOWN OF DOLLAR AMOUNTS PAID TO SUB-AGENTS FOR THE EQUIVALENT OF 30% OF TRANSFERS PAID BY THEM
WEEKLY REPORT

Institution Name: _________________________ Period: (week) From ________ to ________

| Sub-Agent Name | TIN of Representative* | Amount (in USD) | Account Number | Domiciliary Bank |
|---|---|---|---|---|
| Sub-Agent 1 | | | | |
| Sub-Agent 2 | | | | |
| Sub-Agent 3 | | | | |
| Sub-Agent 4 | | | | |
| | | | | |
| | | | | |
| | | | | |
| .... | | | | |
| .... | | | | |
| .... | | | | |

*the one who signed the contract with the authorized agent

ANNEX IV

DECLARATION FORM
REPORT ON WITHDRAWALS EQUAL TO OR GREATER THAN 10,000 USD BY SUB-AGENTS
WEEKLY REPORT

Institution Name: _________________________ Period: (week) From ________ to ________

| Sub-Agent Name | TIN of Representative * | Sub-Agent Account # | Withdrawal Amount | Reason for Transaction | Beneficiary Name | Beneficiary Account # | Beneficiary Bank |
|---|---|---|---|---|---|---|---|
| Sub-Agent 1 | | | | | | | |
| Sub-Agent 2 | | | | | | | |
| Sub-Agent 3 | | | | | | | |
| Sub-Agent 4 | | | | | | | |
| .... | | | | | | | |
| .... | | | | | | | |
| .... | | | | | | | |
| | | | | | | | |

*the one who signed the contract with the authorized agent

ANNEX V

DECLARATION FORM
REPORT ON DEPOSITS EXCEEDING 1,000,000.00 GOURDES MADE INTO EXPORTERS' ACCOUNTS
WEEKLY REPORT

Institution Name: _________________________ Period: (week) From ________ to ________

| Exporter Name | Exporter Account # | Deposit Amount | Purpose | Depositor Name | Depositor Account # | Depositor Bank |
|---|---|---|---|---|---|---|
| Exporter 1 | | | | | | |
| Exporter 2 | | | | | | |
| Exporter 3 | | | | | | |
| Exporter 4 | | | | | | |
| .... | | | | | | |
| .... | | | | | | |
| .... | | | | | | |
| .... | | | | | | |
| .... | | | | | | |
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