Circular No. 3358 — Amends Circular 3,298 of November 1, 2005, and the Regulation on Cash Custody of the Central Bank of Brazil attached thereto

CIRCULAR NO. 003358

Amends Circular 3,298 of November 1, 2005, and the Regulation on Cash Custody of the Central Bank of Brazil attached thereto.

The Coordinated Board of the Central Bank of Brazil, in a session held on August 16, 2007, based on Article 11, item III, letter "d", of the Internal Regulations of this Autarchy, and considering the provisions of Article 4, item II, of Resolution No. 3,322 of October 27, 2005, of the National Monetary Council,

D E C I D E D:

Art. 1. The caput of Article 2 of Circular 3,298 of November 1, 2005, is amended, which shall henceforth read as follows:

"Art. 2. The Custodian shall be entitled to remuneration to be paid by financial institutions, levied on each confirmed withdrawal request, on each effective deposit, and on each effective exchange operation, when these operations are carried out in their authorized premises for performing the custody service." (NR)

Art. 2. Articles 10, 14, 17, 18, 24, 30, and 31 of the Regulation on Cash Custody of the Central Bank of Brazil, attached to Circular 3,298 of November 1, 2005, are amended, which shall henceforth read as follows:

"Art. 10. Custodial premises shall guarantee a safe environment for the storage and movement of valuables, and this condition shall be proven by a security plan approved by the Federal Police Department." (NR)

"Art. 14. ..............................................

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§ 2. Banknotes of types II to VI shall be grouped in hundreds bound with bands.

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§ 6. For cash of types III and IV, only one fraction of a hundred per denomination shall be admitted.

§ 7. For cash of types III and IV, only one fraction of a thousand per denomination shall be admitted." (NR)

"Art. 17. In the composition of custodied cash of types III or IV, the presence of banknotes of type V shall be accepted up to a maximum percentage to be defined by the Copom, which shall be disclosed through a Communication." (NR)

"Art. 18. In the composition of custodied or relieved cash of type V, the presence of banknotes of types III or IV shall be accepted up to a maximum percentage to be defined by the Copom, which shall be disclosed through a Communication." (NR)

"Art. 24. The Custodian shall be entitled to remuneration, levied on the value of:

I - ....................................................

II - ...................................................

III - each effective exchange operation carried out in the custodial premises.

...................................................." (NR)

"Art. 30. ..............................................

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§ 2. The following occurrences are considered irregularities, for the purpose of applying penalties:

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XIII - existence of more than one fraction of a hundred per denomination in cash of types III and IV;

XIV - existence of a percentage higher than that stipulated by the Copom of type V banknotes in custodied or relieved cash of types III and IV;

XV - existence of a percentage higher than that stipulated by the Copom of banknotes suitable for circulation in custodied or relieved type V cash;

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§ 3. The provisions of items IX and XVII of this article shall not apply to cash of types I, II, V, VI, VII, VIII, and IX, if it is proven that the wrappers of the referred cash maintain the original seal affixed by the Bacen or by the depositing institution.

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§ 7. Fines applied to the custodian shall be paid within a period of 30 (thirty) business days, counted from the receipt of the respective notification, under penalty of their values being increased by:

I - default interest, counted from the first day of the month subsequent to that of the due date, equivalent to the reference rate of the Special Settlement and Custody System - SELIC for federal securities, accumulated monthly, until the last day of the month prior to that of payment, and of 1% (one percent) in the month of payment;

II - a late fee of 2% (two percent), from the first day after the due date of the debt, increased, every 30 (thirty) days, by an equal percentage, up to a limit of 20% (twenty percent), incident on the updated value." (NR)

"Art. 31. .............................................

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§ 2. The provisions of this article shall not apply to cash of types I, II, V, VI, VII, VIII, and IX, if it is proven that the wrappers of the referred cash maintain the original seal affixed by the Bacen or by the depositing institution." (NR)

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

Brasília, August 16, 2007.

Antonio Gustavo Matos do Vale
Director