Circular No. 2985 — Dispenses on the Submission of Information on Time Deposits

CIRCULAR N. 002985

Dispenses on the submission of information on time deposits in accordance with art. 2 of Circular No. 2,132, of 1992.

The Executive Board of the Central Bank of Brazil, in a session held on June 14, 2000, based on art. 37 of Law No. 4,595, of December 31, 1964, and art. 3, item IX, of Law No. 4,728, of July 14, 1965,

D E C I D E D:

Art. 1 Establish that the information regarding time deposits contracted from June 20, 2000, required under the terms of art. 2, items I to IV, of Circular No. 2,132, of February 6, 1992, must be provided considering separately the operations remunerated with the application of fixed rates, post-fixed rates (in Reference Rate - TR), and floating rates.

Paragraph 1 The interest rate relative to operations contracted at floating rates must be reported based on the remuneration calculated for the first day of the contract.

Paragraph 2 The redemption of time deposit contracts at floating rates must be reported only on the date of actual redemption, repurchase, or rescission, depending on whether it is a certificate or receipt, and not on the date of the rate fluctuation.

Art. 2 The information regarding time deposits, segregated in the manner established in art. 1 of this Circular, must be provided in the following periods:

I - from June 20 to June 30, 2000, those referring to operations contracted in the period from January 1, 2000, to June 19, 2000;

II - from June 20, 2000, to July 31, 2000, those referring to operations contracted in the period from August 2, 1999, to December 31, 1999.

Sole Paragraph. Financial institutions that did not contract time deposit operations remunerated at floating rates in the periods referred to in items I and II are exempt from the submission of the information provided therein, and must communicate this fact to the Department of Registration and Information of the Financial System (DECAD), via electronic mail, transaction PMSG750 of the Central Bank Information System - SISBACEN.

Art. 3 The DECAD is authorized to request additional information regarding the provisions of this Circular.

Art. 4 This Circular enters into force on the date of its publication.

Art. 5 Item IX of item 1 of Circular Letter No. 2,783, of January 29, 1998, and Communication No. 3,030, of October 2, 1992, are hereby repealed.

Brasília, June 15, 2000

Sérgio Darcy da Silva Alves
Director