Circular No. 2520 — Deposit Account Re-registration

CIRCULAR NO. 002520

Dispõe sobre o recadastramento de contas de depósitos, de que tratam as Resoluções nºs 2.025/93 e 2.078/94, e regulamentação subseqüente.

The Board of Directors of the Central Bank of Brazil, in a session held on 14.12.94, based on Article 17 of Resolution No. 2,025, of 24.11.93, and Article 5 of Resolution No. 2,078, of 15.06.94, and having in view the provisions in the cited normative instruments,

DECIDED:

Art. 1 Alter the list referred to in Article 3 of Resolution No. 2,078, of 15.06.94, which shall now read as follows:

I - provision of checkbooks and/or magnetic cards;

II - granting of financing, loans, and advances, as well as opening or renewing credit of any kind;

III - acceptance of demand deposits or savings account deposits;

IV - acceptance of requests for financial applications.

Art. 2 The following operations will continue to be carried out, with respect to accounts not re-registered by 31.12.94 in accordance with the regulations in force:

I - debit compensation and/or check payment, transfer of funds by debit, and acceptance of withdrawals, up to the amount of the available balance;

II - redemption, partial or total, of financial applications;

III - credit entries resulting from automatic redemptions of financial applications already authorized;

IV - entries, provided there is a balance in the account, of:

a) automatic debits already authorized;

b) debits arising from the collection of taxes and fees;

c) debts owed to the institution where the deposit account is maintained.

Sole Paragraph. In the event of the absence of a balance, the institution will send a billing notice to the account holders regarding the debits referred to in item IV of this article, whose payment will be made via cash, respecting the contractual deadlines, where applicable.

Art. 3 The financial applications existing on 01.01.95 linked to the accounts referred to in Article 2 of this Circular will proceed normally, observed the provisions in that same article.

Art. 4 Credits in favor of the accounts referred to in Article 2 of this Circular will be kept available to the client, and must be paid via cash.

Art. 5 For the purposes of the re-registration of deposit accounts determined by the regulations in force:

I - it may be carried out by means of a public or private power of attorney;

II - the presentation of any identification document, provided it contains a photo and signature of the identified person and is issued by an official body or regulatory council of the professional exercise;

III - the presentation of authenticated copies of the required documents, including the power of attorney mentioned in item I, instead of the originals.

Paragraph 1 A joint deposit account will be considered re-registered only when all account holders have re-registered.

Paragraph 2 A deposit account not re-registered by 31.12.94 will be reactivated from the moment its situation is regularized, observed the provisions in Article 7 of this Circular.

Art. 6 The following are not subject to re-registration: accounts opened at the initiative of official pension entities for the payment of benefits and pensions, and accounts held by persons with physical or mental disabilities that render them incapable of appointing an attorney or responding for their own acts.

Paragraph 1 The entities referred to in this article are responsible for the accounts maintained by their order at financial institutions.

Paragraph 2 The incapacity referred to in this article, if not declared judicially, may be proven by the presentation of a forensic report issued by an official pension institute.

Art. 7 Deposit accounts not re-registered will be considered inactive within 180 (one hundred and eighty) days counted from 01.01.95.

Art. 8 This Circular enters into force on the date of its publication.

Brasília, December 15, 1994

Cláudio Ness Mauch
Director of Norms and Organization of the
Financial System