Circular No. 3263 — Establishes procedures for interfinancial deposits linked to microfinance operations (DIM)

CIRCULAR NO. 003263

Establishes procedures for interfinancial deposits linked to microfinance operations (DIM).

The Collegiate Board of the Central Bank of Brazil, in a session held on November 23, 2004, based on item II of Resolution 1.647, of October 18, 1989, and Article 6, item I, of Resolution 3.109, of July 24, 2003, with the wording given by Article 1 of Resolution 3.212, of June 30, 2004,

DECIDED:

Article 1. Exempt the interfinancial deposit linked to microfinance operations (DIM), referred to in Article 3, item I, of Resolution 3.109, of July 24, 2003, with the wording given to it by Article 1 of Resolution 3.212, of June 30, 2004, from the obligation of financial settlement in a system of registration and financial settlement of assets authorized by the Central Bank of Brazil, provided that:

I - its depositary is a microentrepreneur credit society;

II - the limits and other conditions applicable to interfinancial deposits are observed by the depositing financial institution;

III - the deposit is registered in the respective system, as an operation with the client of the depositing institution.

Article 2. This circular enters into force on the date of its publication.

Brasília, November 23, 2004.

Sérgio Darcy da Silva Alves
Director