Circular No. 3394 — Dispenses on the Submission to the Central Bank of Brazil of Information Regarding Consortium Operations

CIRCULAR NO. 003394

Dispenses on the submission to the Central Bank of Brazil of information regarding consortium operations.

The Collegiate Board of the Central Bank of Brazil, in a session held on July 9, 2008, based on Article 33 of Law No. 8,177, of March 1, 1991,

D E C I D E D:

Article 1. Consortium administrators must prepare and submit monthly information to the Central Bank of Brazil regarding consortium operations, by the 30th of the month following the reference date, in the format to be established by August 22, 2008, by the Departments of Monitoring of the Financial System and Information Management (Desig) and of Supervision of Cooperatives and Non-Banking Institutions (Desuc).

§ 1. The information must cover:

I - consortium groups in formation;

II - consortium groups in progress;

III - quotas of groups in progress;

IV - unclaimed resources by participants of groups closed accounting-wise;

V - amounts receivable from defaulting participants of groups closed accounting-wise.

§ 2. The submission of information regarding groups and quotas of consortium groups must be carried out even in situations where there are no ongoing operations or new memberships.

§ 3. The information regarding reference dates of September 30, 2008, and December 31, 2008, may exceptionally be sent by November 28, 2008, and February 27, 2009, respectively.

§ 4. The information referred to in § 1, items IV and V, will be requested only starting from the reference date of December 31, 2008.

Article 2. For the purposes of this circular, the information must be segregated into the following consortium segments:

I - real estate;

II - tractors, road equipment, machines and agricultural equipment, vessels, aircraft, motor vehicles intended for cargo transport with a capacity exceeding 1,500 kg, and motor vehicles intended for collective transport with a capacity for twenty passengers or more;

III - motor vehicles not included in item II, except motorcycles and mopeds;

IV - motorcycles and mopeds;

V - other durable movable goods;

VI - tourist services.

Sole Paragraph. The information regarding tourist services refers to groups still in progress on the date of entry into force of this circular.

Article 3. Non-compliance with the deadlines set in this circular, as well as the provision of incorrect information, subjects the administrator to the fine provided for in Article 16 of Law No. 5,768, of December 20, 1971, applicable under the conditions and criteria established in Article 12 of Circular No. 2,381, of November 18, 1993.

Article 4. This circular enters into force on the date of its publication, producing effects starting from the reference date of September 30, 2008.

Article 5. Circular No. 2,889, of May 20, 1999, is revoked, effective May 1, 2009, when the submission of the reports established therein must be discontinued.

Brasília, July 9, 2008.

Maria Celina Berardinelli Arraes Alvir Alberto Hoffmann Director, substitute Director