Circular No. 2.347

CIRCULAR N. 002347 ------------------ PROVIDES FOR THE SENDING OF DAILY INFORMATION TO THE CENTRAL BANK OF BRAZIL - AVERAGE RATES AND APPLICATION VOLUMES. WE INFORM THAT THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, IN A SESSION HELD ON 27.07.93, HAVING REGARD TO THE PROVISIONS OF ART. 37 OF LAW NO. 4.595, OF 31.12.64, AND ART. 3, ITEM IX, OF LAW NO. 4.728, OF 14.07.65, DECIDED: ART. 1. MULTIPLE BANKS, COMMERCIAL BANKS, INVESTMENT BANKS, DEVELOPMENT BANKS, SAVINGS BANKS AND CREDIT, FINANCING AND INVESTMENT COMPANIES MUST INFORM DAILY TO THE DEPARTMENT OF SPECIAL STUDIES AND MONITORING OF THE FINANCIAL SYSTEM (DEASF), THROUGH THE CENTRAL BANK INFORMATION SYSTEM (SISBACEN), TRANSACTION PESP500, THE AVERAGE RATES AND APPLICATION VOLUMES PRACTICED IN THE MODALITIES BELOW, SEPARATED BY TYPE OF OPERATION (PRE OR POST-FIXED): I - WITH LEGAL ENTITIES 1 - "HOT MONEY"; 2 - DISCOUNT OF DUPLICATES; 3 - DISCOUNT OF PROMISSORY NOTES; 4 - WORKING CAPITAL; 5 - GUARANTEED ACCOUNT; 6 - ACQUISITION OF GOODS; 7 - VENDOR; 8 - ADVANCES ON EXCHANGE CONTRACTS; 9 - "EXPORT NOTES"; 10 - OPERATIONS OF RESOLUTION 63. II - WITH INDIVIDUALS 1 - OVERDRAFT; 2 - PERSONAL CREDIT; 3 - ACQUISITION OF GOODS. PARAGRAPH 1. THE AVERAGE RATE TO BE INFORMED IS THE "EFFECTIVE-DAY", KNOWN AS "OVER RATE" AND, IN EACH MODALITY, MUST BE THE RESULT OF THE CALCULATION OF THE WEIGHTED ARITHMETIC AVERAGE, BY THE RESPECTIVE APPLIED VOLUMES, OF THE EFFECTIVE-DAY RATES OF EACH OPERATION CARRIED OUT ON THE BASE DATE. PARAGRAPH 2. IN EACH MODALITY THE APPLIED VOLUME WILL BE THE SUM OF THE AMOUNTS APPLIED IN ALL OPERATIONS OF THE TYPE CARRIED OUT DURING THE BASE DATE. PARAGRAPH 3. THE INFORMATION REFERRED TO IN THIS ARTICLE MUST BE PROVIDED BY THE 10TH (TENTH) BUSINESS DAY AFTER THE DATE TO WHICH THEY REFER, INCLUDING FOR THE MODALITIES AND TYPES IN WHICH THERE IS NO MOVEMENT - IN WHICH CASE NULL VALUES MUST BE INFORMED. ART. 2. THE NON-SENDING OF THE INFORMATION REFERRED TO IN THIS CIRCULAR, WITHIN THE ESTABLISHED PERIOD, SUBJECTS THE INSTITUTION TO A FINE IN THE AMOUNT EQUIVALENT TO 200 (TWO HUNDRED) FISCAL REFERENCE UNITS (UFIR) PER DAY OF DELAY, WITHOUT PREJUDICE TO THE OTHER SANCTIONS PROVIDED FOR IN THE LEGISLATION IN FORCE, AND THE CONVERSION INTO CRUZEIROS WILL BE MADE ON THE DATE OF APPLICATION OF THE FINE. PARAGRAPH 1. ANY CHANGES REQUESTED BY THE INSTITUTIONS AFTER THE DEADLINE WILL HAVE THE SAME TREATMENT GIVEN TO INFORMATION SENT LATE. PARAGRAPH 2. THE FINE REFERRED TO IN THE "CAPUT" OF THIS ARTICLE WILL BE DEBITED TO THE INSTITUTION'S "BANKING RESERVES" ACCOUNT OR, IN ITS ABSENCE, TO THE RESPECTIVE ACCOUNT OF THE COMMERCIAL BANK, MULTIPLE BANK WITH COMMERCIAL PORTFOLIO OR SAVINGS BANK WITH WHICH THE INSTITUTION HAS ENTERED INTO AN AGREEMENT. PARAGRAPH 3. EXCEPTIONALLY, UNTIL THE BASE DATE OF 29.10.93 (WHILE THE INSTITUTIONS HAVE NOT ADAPTED THEIR SYSTEMS), THE INFORMATION RELATING TO DIRECT CREDIT TO CONSUMERS MAY BE PROVIDED BASED ON ESTIMATES. ART. 4. FOR THE PURPOSE OF THIS
CIRCULAR, A BUSINESS DAY IS CONSIDERED TO BE THAT WHICH COUNTS IN THE CALCULATION OF THE MOVING AVERAGE OF THE COMPULSORY DEPOSIT ON DEMAND DEPOSITS. ART. 5. FOR OPERATIONS WITH A TERM GREATER THAN 1 (ONE) YEAR, THE NUMBER OF BUSINESS DAYS OF THE OPERATION, IF NOT AVAILABLE, MAY BE CALCULATED BY DIVIDING THE NUMBER OF CALENDAR DAYS OF THE OPERATION BY 365 AND MULTIPLYING THE RESULT BY 252, WITH ROUNDING TO THE NEAREST INTEGER. ART. 6. THE INSTITUTIONS COVERED BY THIS REGULATION MUST INFORM THE REGISTRATION AND INFORMATION DEPARTMENT/REGISTRATION RECORDS DIVISION (DECAD/DIREC) OF THE CENTRAL BANK OF BRAZIL - SBS - HEADQUARTERS BUILDING, BLOCK 3, BLOCK "B" - ZIP CODE 70.074-900 - 14TH FLOOR - TEL.: (061) 214.1518 AND 214.1678, BY 09.08.93, AND KEEP PERMANENTLY UPDATED THE FOLLOWING DATA: I - NAME, CPF AND CONTACT TELEPHONE OF THOSE RESPONSIBLE FOR THE PREPARATION AND PROVISION OF INFORMATION; II - CGC AND NAME OF THE FINANCIAL INSTITUTION IN WHOSE "BANKING RESERVES" ACCOUNT THE FINES PROVIDED FOR IN THIS CIRCULAR WILL BE DEBITED. SOLE PARAGRAPH. THE FAILURE OR DELAY IN SENDING THE INFORMATION REFERRED TO IN THIS ARTICLE SUBJECTS THE INSTITUTIONS TO THE FINE PROVIDED FOR IN ART. 2. ART. 7. THIS CIRCULAR ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION. ART. 8. CIRCULARS NOS. 2.292, OF 24.03.93, 2.300, OF 28.04.93, AND 2.318, OF 31.05.93, ARE REVOKED. ART. 9. CIRCULAR LETTER NO. 2.359, OF 16.04.93, REMAINS IN FORCE, WHOSE REGULATORY BASIS BECOMES THIS CIRCULAR. BRASÍLIA (DF), 28 JULY 1993 SÉRGIO DE IUDÍCIBUS CLÁUDIO NESS MAUCH DIRECTOR OF SUPERVISION DIRECTOR OF NORMS AND ORGANIZATION OF THE FINANCIAL SYSTEM