Circular No. 2367 — Establishes and Regulates the System for Recording Credit Operations with the Public Sector

CIRCULAR NO. 002367

Establishes and Regulates the System for Recording Credit Operations with the Public Sector.

The Board of Directors of the Central Bank of Brazil, in a session held on 23.09.93, based on Article 37 of Law No. 4.595, of 31.12.64, and considering the provisions of Articles 8 and 11 of Resolution No. 2.008, of 28.07.93,

DECIDED:

Art. 1. To establish the System for Recording Credit Operations with the Public Sector, based on information individualized by credit operation.

Paragraph 1. The public sector comprises the bodies and entities of public administration, thus discriminated:

I - the direct administration of the powers of the Union, the States, the Federal District, and the Municipalities;

II - public companies, mixed-capital companies, their subsidiaries, and other companies controlled, directly or indirectly, by the Union, the States, the Federal District, and the Municipalities;

III - autarchies and foundations established or maintained, directly or indirectly, by the Union, the States, the Federal District, and the Municipalities;

IV - other bodies or entities of the powers of the Union, the States, the Federal District, and the Municipalities.

Paragraph 2. For the purposes of this Circular, a credit operation is understood as the granting of loans, financing, and commercial leasing, the discounting of bills, the granting of advances, and the provision of guarantees of any nature by financial institutions and leasing companies, in which the bodies and entities of the public sector appear as obligors or co-obligors.

Paragraph 3. The assignments or acquisitions of credit rights between financial institutions, which involve the responsibility of Bodies or entities of the public sector, are equated to the credit operations discriminated in the previous paragraph.

Paragraph 4. The bodies and entities of the public sector that present debts, fully or partially due for a period exceeding thirty days, are considered delinquent.

Art. 2. To establish that financial institutions and leasing companies must provide the Central Bank of Brazil with information on each credit operation maintained with bodies and entities of the public sector, through the Recording of Credit Operations carried out with the public sector, whose codification in the document catalog is as follows:

SEGMENT CADOC CODE
Commercial Banks 20.1.3.182-5
Development Banks 22.1.3.156-2
Investment Banks 24.1.3.466-0
Multiple Banks 26.1.3.251-2
National Bank for Economic and Social Development - BNDES 28.0.3.005-5 State Savings Banks 36.1.3.248-5 Federal Savings Bank 38.0.3.249-7 Leasing Companies 77.1.3.156-2 Credit, Financing and Investment Companies 81.1.3.156-5 Real Estate Credit Companies 83.1.3.248-3.

Paragraph 1. Financial institutions must provide the information referred to in this article, through the PDIP500 transaction, of the Bank Central Information System (SISBACEN), which will be available to Financial Institutions, from 24.09.93.

Paragraph 2. For the information to be provided with monthly periodicity, the transmission by magnetic means is permitted, in which cases, formal request to the Department of Informatics (DEINF) of the Central Bank of Brazil is necessary.

Art. 3. To establish that the recording of credit operations with the public sector will consist of three groups of information, thus characterized:

I - Cadastre Information - its purpose is to identify and specify the credit operation, its data being immutable while the agreed conditions persist. This group is constituted by the following data blocks:

a) identification of the creditor; b) identification of the borrower; c) identification of the credit operation; d) identification of the guarantee and the guarantor; e) schedule for the release of resources; f) payment schedule.

II - Information on Movements - its purpose is to allow the monitoring of the evolution of credit operations. This group is constituted by the following data blocks:

a) installments of released resources; b) installments of recovered resources; c) outstanding balance; d) other accounting information.

III - Information on Delinquents - its purpose is to identify the situation of the body or entity of the public sector, with reference to the fulfillment of financial commitments arising from its credit operations, registering them as delinquent or compliant.

Art. 4. To establish that the deadlines for financial institutions and leasing companies to provide information for the System for Recording Credit Operations with the public sector are as follows:

I - By November 5, 1993, the PDIP500 transaction will be available for inclusion and alteration of cadastre information relating to credit operations that have an outstanding balance on the date of publication of this Circular, or contracted from this date until October 31, 1993, so as to have, without errors or omissions, the individualized registry of credit operations at the end of this period;

II - By November 20, 1993, information relating to the movement of credit operations registered in the period established in the previous item must be provided;

III - From November 1, 1993, the information referred to in item I and items "a" and "b" of item II, of Art. 3, relating to operations contracted with the bodies of the direct administration of States, the Federal District, Municipalities, and their respective autarchies, must be provided within three business days after the occurrence of the event subject to registration in the system;

IV - From November 1, 1993, the information on the movements of credit operations of the bodies of the direct administration of States, the Federal District, Municipalities, and their respective autarchies, relating to items "c" and "d" of item II, of Art. 3, must be provided monthly, until the 20th (twenty) day of the following month;

V - From November 1, 1993, the cadastre and movement information of credit operations of the other bodies and entities of the public sector must be provided monthly, until the 20th (twenty) day of the following month;

VI - From November 1, 1993, the registration of bodies and entities of the public sector as delinquent or the recovery of the condition of compliant must be carried out within three business days after the characterization of the situation.

Art. 5. To determine that non-compliance with the deadlines fixed in Article 4 will subject the financial institution to a daily fine incident on the delay in providing information for each credit operation, according to the fine table of Circular No. 1.490, of 01.06.89, which is in force, without prejudice to the other sanctions provided for in the legislation in force.

Paragraph 1. The provision of incorrect information will be considered, for the purposes of this Circular, as information in delay, for the period of time in which it has been maintained with incorrect values, respecting the deadlines established in Circular No. 1.490, of 01.06.89.

Paragraph 2. The values relating to the fines will be charged to the "Bank Reserves" account of the financial institution.

Paragraph 3. Financial institutions not holding a "Bank Reserves" account and leasing companies must sign an agreement with a multiple bank with a commercial portfolio, a commercial bank, or a savings bank, for the purposes of the financial movement provided for in this article, clarified that the agreement does not imply any responsibility for the holder of the "Bank Reserves" account, except in the event that the entries transited by it are not challenged until the next business day.

Paragraph 4. The financial institutions covered by the previous paragraph must inform the DECAD - Department of Cadastre and Information/Division of Cadastre Records (SBS - Headquarters Building, Block 3 - Block "B" - P.O. Box 08670 - CEP 70074-090 - 14th floor - Tel.: (061) 214-1518 and 214-1678), by October 15, 1993, the CGC and the name of the bank with which to sign the agreement, for the purpose of the debit of the fine provided for in this Circular.

Art. 6. Financial institutions that do not have accreditation with SISBACEN must arrange it with the Department of Informatics (DEINF), in Brasília (DF), or at the Regional Delegacies of the Central Bank of Brazil.

Art. 7. The Department of Public Debt (DEDIP) and the Department of Informatics (DEINF) are authorized to adopt complementary measures, relating to their attributions and competencies, with a view to the adequate operationalization of the System for Recording Credit Operations with the Public Sector.

Art. 8. To establish that this Circular enters into force on the date of its publication.

Brasília, September 23, 1993

Francisco Eduardo de Almeida Pinto Cláudio Ness Mauch Monetary Policy Director Director of Supervision, acting

Carlos Eduardo Tavares de Andrade
Director of Administration