Circular No. 2.476

CIRCULAR N. 002476 ------------------ Redefines rules for the purpose of compulsory collection on resources of deposits and guarantees made. The Board of Directors of the Central Bank of Brazil, in a session held on 06.09.94, having regard to the provisions of art. 10, items III and IV of Law No. 4.595, of 31.12.64, with the wording given to it by arts. 19 and 20 of Law No. 7.730, of 31.01.89, and in arts. 66 and 67 of Provisional Measure No. 596, of 26.08.94, D E C I D E D: Art. 1 Redefine rules for the compulsory collection on the resources of deposits and guarantees made of Multiple Banks holding an Investment and/or Credit, Financing and Investment Portfolio, Investment Banks and Credit, Financing and Investment Societies. Art. 2 The compulsory collection applies to the resources recorded in the following accounting titles of the Chart of Accounts for Institutions of the National Financial System (COSIF): I - 4.1.1.60.00-2 Deposits of residents abroad; II - 4.1.1.75.00-4 Compulsory deposits; III - 4.1.1.85.00-1 Linked deposits; IV - 4.9.9.60.00-8 Resources of guarantees made. Art. 3 The requirement for compulsory collection shall correspond to the following rates: I - 100% (one hundred percent) of the arithmetic average of the daily balances of each calculation period, of the amounts recorded in items I, II and III of the previous article; II - 60% (sixty percent) of the arithmetic average of the daily balances of each calculation period, of the amounts recorded in item IV of the previous article. Paragraph 1 For the purposes of the provisions of the "caput" of this article, the calculation period is defined as the business days comprised in a one-week period, starting on Monday and ending on Friday. Paragraph 2 The adjustment date is defined as the Friday of the week following the calculation period, it being clarified that, in the event that it is not a business day, the adjustment shall be made on the immediately following business day. Art. 4 The compulsory collection referred to in this Circular must be fulfilled exclusively in cash, it being clarified that the collected resources shall not be entitled to any remuneration. Art. 5 For the purposes of proving the positions of compulsory collection on deposits of residents abroad, compulsory deposits, linked deposits and resources of guarantees made, the institution must complete the statement "COMPULSORY COLLECTION - STATEMENT OF REQUIRED BALANCE - RESOURCES OF DEPOSITS AND GUARANTEES MADE", model number 24031-0, whose coding in the Document Catalog (CADOC) is as follows: SEGMENT CADOC CODE Multiple Banks.....................................26.1.1.400-4 Investment Banks...............................24.1.1.400-6 Credit, Financ. and Investment Societies........81.1.1.400-1 Paragraph 1 The information referred to in this article must be delivered to the Regional Office of the Central Bank of Brazil to which the financial institution is subject until the penultimate business day prior to the
adjustment of the respective position. Paragraph 2 The financial institution that submits the information late and/or replaces it after the date provided for in the previous paragraph incurs the payment of a fine, in the amount equivalent to R$50.00 (fifty reais), due for each position replaced or included after the deadline. Paragraph 3 The financial institution whose collection amount is equal to or less than R$5,000.00 (five thousand reais) is exempt from the compulsory collection referred to herein, being, however, obliged to submit the statement. Paragraph 4 The financial institution whose balance in all items is equal to zero is exempt from submitting the aforementioned statement, remaining in that condition as long as such situation persists. Art. 6 In the event that insufficiency is found in the compulsory collection referred to herein, the financial institution incurs the payment of a financial cost calculated on the amount of the deficiency. Paragraph 1 The financial costs shall be calculated by the number of days during which the deficiency persisted, based on the adjusted average rate of all financing operations registered in the Special System for Settlement and Custody (SELIC), regardless of the characteristics of the securities, plus interest of 30% (thirty percent) per year and shall be due on the following business day. Paragraph 2 The financial costs related to possible past deficiencies shall be updated based on the daily rate of Interfinancial Deposits (DI) and debited on the present date. Paragraph 3 The financial institution may opt for the debit valued up to the third business day after the processing of the alterations/entries that gave rise to the financial costs, by communicating to the Regional Office of the Central Bank of Brazil to which it is subject. Paragraph 4 The daily factors used for the purpose of calculating the financial cost may be obtained by consulting the PTAX880 transaction, of the Central Bank Information System (SISBACEN). Art. 7 All financial movement of the compulsory collection provided for in this Circular shall be made by entry to the "Bank Reserves" account. Paragraph 1 The financial institution not holding a "Bank Reserves" account must enter into an agreement with a multiple bank with a commercial portfolio or commercial bank for the purposes of the movement referred to in the "caput" of this article. Paragraph 2 The agreement provided for in the previous paragraph does not imply any liability of the holder of the "Bank Reserves" account before the Central Bank of Brazil, except in the event that the entries processed through it are not challenged until the first business day following the event. Art. 8 The Department of Banking Operations may issue complementary rules for the purpose of operationalizing the provisions of this Circular. Art. 9 This Circular enters into force on the date of its publication, with effects from the adjustment of 16.09.94, calculation basis from 05 to 09.09.94,
when Circular No. 2.168 of 29.04.92 shall be revoked. Brasília, 8 September 1994 Alkimar Ribeiro Moura Cláudio Ness Mauch Director of Monetary Policy Director of Norms and Organization of the Financial System Annex DOCUMENT IDENTIFICATION ------------------------------------------- :01 CADOC CODE :02 ORDER No. : : : : ------------------------------------------- COMPULSORY RECOLLECTION STATEMENT OF THE REQUIRABLE BALANCE - RESOURCES FROM DEPOSITS AND REALIZED GUARANTEES CALCULATION PERIOD ---------------------------------- :03 START DATE :04 END DATE : : : : ---------------------------------- INSTITUTION IDENTIFICATION VALUES IN R$1.00 ------------------------------------------------------------------- :05 NAME : 06 CGC : : : : ------------------------------------------------------------------- VALUES SUBJECT TO RECOLLECTION ------------------------------------------------------------------- :07 DATE :08 D.DOM.EXT.:09 D.OBLIG.:10 D. VINCUL.:11 R.GR.REAL.: :-----------------------------------------------------------------: : : : : : : :---------+-------------+-------------+-------------+-------------: : : : : : : :---------+-------------+-------------+-------------+-------------: : : : : : : :---------+-------------+-------------+-------------+-------------: : : : : : : :---------+-------------+-------------+-------------+-------------: : : : : : : ------------------------+-------------+---------------------------- :SUBTOTAL :12 :13 :14 : ------------------------+-------------+---------------------------- : TOTAL (12+13+14) :15 :TOTAL :16 : ------------------------------------------------------------------- : AVERAGE :17 : :---------+-------------------------------------------------------- : AVERAGE :18 : ------------------------------------------------------------------- CALCULATION OF REQUIREMENT ------------------------------------------------------------------- : 100% ON FIELD 17 :19 : ------------------------------------------------------------------- : 60% ON FIELD 18 :20 : ------------------------------------------------------------------- :TOTAL REQUIREMENT (19+20) :21 : ------------------------------------------------------------------- DECLARATION ------------------------------------------------------------------- :The signatories of this document are responsible for the veracity: :of the elements and data contained therein and for the full compatibility: :of the declared positions with the institution's records. : ------------------------------------------------------------------- :22 SIGNATURE, NAME AND POSITION :23 CPF : : : : -------------------------------------------+----------------------- :24 SIGNATURE, NAME AND POSITION :25 CPF : : : : -------------------------------------------+----------------------- :26 PLACE AND DATE :27 TELEPHONE CONTACT : : : : ------------------------------------------------------------------- INSTRUCTIONS FOR COMPLETION TABLE - DOCUMENT IDENTIFICATION Field 01 - Fill with the document code in CADOC. Field
02 - Reserved for the Central Bank. TABLE - POSITION Field 03 - Fill with the date of the first business day of the calculation period. Field 04 - Fill with the date of the last business day of the calculation period. Dates must be expressed numerically in day, month and year. TABLE - INSTITUTION IDENTIFICATION Field 05 - Full name of the institution. Field 06 - Fill with the institution's registration number in the General Taxpayers Registry of the Ministry of Finance. TABLE - VALUES SUBJECT TO RECOLLECTION Field 07 - Fill with the business days of the calculation period, format DD/MM/YY. Field 08 - Fill, for the business days listed in field 07, with the values, in R$1.00, of the daily balances of the account "4.1.1.60.00-2 - DEPOSITS OF RESIDENTS ABROAD". Field 09 - Fill, for the business days listed in field 07, with the values, in R$1.00, of the daily balances of the account "4.1.1.75.00-4 - COMPULSORY DEPOSITS". Field 10 - Fill, for the business days listed in field 07, with the values, in R$1.00, of the daily balances of the account "4.1.1.85.00-1 - LINKED DEPOSITS". Field 11 - Fill, for the business days listed in field 07, with the values, in R$1.00, of the daily balances of the account "4.9.9.60.00-8 - RESOURCES FROM REALIZED GUARANTEES". Field 12 - Fill with the sum of the values entered in field 08. Field 13 - Fill with the sum of the values entered in field 09. Field 14 - Fill with the sum of the values entered in field 10. Field 15 - Fill with the sum of fields 12, 13, 14. Field 16 - Fill with the sum of the values entered in field 11. Field 17 - Fill with the value corresponding to the arithmetic mean calculated, based on the value in Field 15 and the number of business days in the calculation period. Field 18 - Fill with the value corresponding to the arithmetic mean calculated, based on the value in Field 16 and the number of business days in the calculation period. Field 19 - Fill with the value corresponding to the rate of 100% (one hundred percent) applied to the value calculated in field 17. Field 20 - Fill with the value corresponding to the rate of 60% (sixty percent) applied to the value calculated in field 18. Field 21 - Fill with the sum of the values in Fields 19 and 20. Fields 22 to 25 - Indicate the names, positions, CPF of those responsible for the information and affix their respective signatures. Field 26 - Record place and date of issuance of the document. Field 27 - Indicate the telephone number of those responsible for the information.