Circular No. 2.652

CIRCULAR N. 002652 ------------------ Establishes the Credit Document - DOC "E" and defines rules for the electronic processing of credit transfers. The Board of Directors of the Central Bank of Brazil, in a session held on 27.12.95, based on art. 11, item VI, of Law No. 4.595, of 31.12.64, D E C I D E D: Art. 1 Establish the Credit Document - DOC, model "E", according to model CADOC 24.055-0, attached to this Circular, intended for use in credit transfers in general. Sole Paragraph. The Credit Document - DOC, model "C", may be used while stocks last. Art. 2 As of the clearing movement of 02.01.96, the Credit Documents, models "C" and "E", accepted in the Integrated Regional Clearing System (SIRC) of São Paulo (SP) must be processed via electronic clearing, with the documents included in the logical files remaining in the possession of the remitting banks, in the capacity of faithful depositaries, for a period of 60 (sixty) days counting from the date of the respective exchange session, microfilming being permitted, after which they may be destroyed. Art. 3 The Department of Banking Operations is authorized to issue the complementary rules for the implementation of this Circular, and may even establish a schedule for expanding the system to other locations. Art. 4 This Circular enters into force on the date of its publication. Brasília, 27 December 1995. Alkimar Ribeiro Moura Director of Monetary Policy -------------- Note: The CADOC model referred to in art. 1 is available to interested parties at the Regional Offices of the Central Bank of Brazil.