Circular No. 3.012

CIRCULAR N. 003012 ------------------ Provides for the identification and recording of transactions involving deposits by cheque and the settlement of cheques deposited at another financial institution. The Collegiate Board of the Central Bank of Brazil, at a meeting held on 1 November 2000, based on art. 11, item VI, of Law No. 4.595, of 31 December 1964, and on arts. 10 and 11 of Law No. 9.613, of 3 March 1998, D E C I D E D: Art. 1 Establish the obligation for financial institutions to identify and record transactions relating to the acceptance of deposits by cheque and the settlement of cheques deposited at another financial institution, observing the following: I - in the case of deposits by cheque: a) the depositary institution must record, at a minimum, the data relating to the amount and number of the deposited cheque, as well as the institution's clearing code and the numbers of the branch and the drawn deposit account; b) the drawee institution must record, at a minimum, the data relating to the amount and number of the deposited cheque, as well as the institution's clearing code and the numbers of the branch and the depositary deposit account; II - in the case of cheques drawn and used for deposit at the institution itself, the following must be recorded by that institution, at a minimum, the data relating to the amount and number of the drawn cheque, as well as the numbers of the drawn and depositary branches and the respective deposit accounts; III - in the case of cheques drawn at one institution and used to acquire a bank cheque or a payment order cheque, for remittance by means of a payment order or transfer document (DOC), or for any other purpose, at another institution, the drawee institution must record, at a minimum, the following data: a) the amount and number of the drawn cheque, as well as the numbers of the drawn branch and deposit account; b) the amount of the transaction and the number of the document, as well as, where applicable, the clearing code of the destination institution and the number of the destination branch and the number of the deposit account of the beneficiary of the funds. Paragraph 1 The provisions of the caput, item I, apply to cases of acceptance for deposit of a bank cheque, a payment order cheque and any other type of compensable document of the same nature. Paragraph 2 The procedures provided for in the caput, item III, must be adopted when dealing with cheques whose amount is equal to or greater than R$1.000,00 (one thousand reais). Art. 2 It is mandatory to provide the depositor with a receipt for the deposits made. Art. 3 The identification and recording of deposits and cheques must be kept, in the form of physical or electronic files, at the disposal of the Central Bank of Brazil, for a minimum period of five years counted from the end of the year in which the transaction was carried out. Art. 4 A deadline is established, until 28 February 2001, for financial institutions to adapt their
procedures to the provisions of this Circular. Art. 5 In the case of deposit accounts held by natural persons or legal entities, funds or other collective investment entities with residence, domicile or headquarters abroad, the specific procedures established in relation to the movement of these accounts under the terms of the legislation and regulations in force must be observed, in addition to the provisions of this Circular. Art. 6 Failure to comply with the provisions of this Circular subjects the offending institution and its administrators to the sanctions provided for in art. 44 of Law No. 4.595, of 31 December 1964. Art. 7 This Circular enters into force on the date of its publication. Art. 8 Carta-Circular No. 75, of 6 December 1972, is revoked. Brasília, 6 November 2000 Sérgio Darcy da Silva Alves Director