Circular No. 3282 — Establishes deadline for registration of securities and provides for submission of information by registration and financial settlement systems

CIRCULAR NO. 003282

Establishes deadline for registration of securities and provides for submission of information by registration and financial settlement systems, in accordance with the terms set forth in Resolution 3.272, of 2005.

The Collegiate Board of the Central Bank of Brazil, in a session held on April 27, 2005, based on Article 4 of Resolution 3.272, of March 24, 2005,

DECIDED:

Article 1. To establish that, effective July 1, 2005, the registration of securities, except stocks, issued, accepted, or guaranteed by financial institutions and other institutions authorized to operate by the Central Bank of Brazil in registration and financial settlement systems, in accordance with the terms set forth in Resolution 3.272, of March 24, 2005, must be carried out within a period of up to three business days after the contracting of the operation.

§ 1. The provisions of the caput also apply to the registration of the conditions for early redemption of securities, as well as to the existing stock on July 1, 2005.

§ 2. Securities issued by the same institution in favor of the same holder, whose sum is less than BRL 50,000.00 (fifty thousand reais), are exempt from the registration requirement.

Article 2. The following information must be sent to the Central Bank of Brazil by the entities responsible for the administration of registration and financial settlement systems:

I - relating to issuance, acceptance, guarantee, or commitments for early redemption: identification of the security, issuing institution or contracting party, nature of the holder, type of operation, date of issuance or contracting, date of registration, maturity, value, form and conditions of remuneration, commitment for early redemption, and parameters and conditions for early redemption;

II - relating to early redemptions and other negotiations: identification of the security, issuing institution or contracting party, nature of the seller and buyer, type, date, and value of the operation, and, in the case of a repo operation, additional information regarding its characteristics.

§ 1. Effective December 1, 2005, the identification of holders of securities whose sum, within a single institution, exceeds BRL 1,000,000.00 (one million reais) is mandatory.

§ 2. The layout of the reports containing the information provided for in this article shall be defined by the Department of Information Management of the Financial System (Defin), the Department of Indirect Supervision (Desin), and the Department of Standards of the Financial System (Denor) jointly with the entities administering registration and financial settlement systems.

§ 3. The submission of the information referred to in this article must be carried out daily, on the day following the base date.

Article 3. This circular enters into force on the date of its publication.

Brasília, April 28, 2005.

Sérgio Darcy da Silva Alves
Director