Circular No. 3534 — Amends Regulation on Electronic Funds Transfer (TED)

CIRCULAR NO. 003534

Amends a provision of the regulation regarding the Electronic Funds Transfer (TED).

The Collegiate Board of the Central Bank of Brazil, in a session held on April 27, 2011, based on Article 10 of Law No. 10,214, of March 27, 2001, and Article 11 of Resolution No. 2,882, of August 30, 2001, having in view the provisions of Articles 3, items II, III, and VII, and 4 of the aforementioned Resolution,

D E C I D E D:

Art. 1. Section 1 of Article 1 of Circular No. 3,115, of April 18, 2002, shall be effective with the following wording:

"Art. 1......

Section 1. The settlement system for the transfer of funds in which the TED will be submitted for settlement is at the free choice of the institution holding a Reserve Account or Settlement Account, except when involving the following types of transfers, which must be submitted for settlement in a system operated by the Central Bank of Brazil:

I - on its own account;

II - in favor of or by order of an institution holding a Reserve Account or Settlement Account, whenever it involves investment in the financial and capital markets;

III - of a value equal to or greater than BRL 1,000,000.00 (one million reais);

IV - on behalf of the pass-through of tax collection and government payments.

...... (New)"

Art. 2. This circular enters into force on the date of its publication, producing effects from the following dates:

I - May 30, 2011, for the provision in Article 1, item III; and

II - August 29, 2011, for the provision in Article 1, items I, II, and IV.

Brasília, May 6, 2011

Aldo Mendes
Director