Circular No. 3.541

CIRCULAR N. 003541 ------------------ Amends Circular No. 3.298 of 1 November 2005, and its annex Regulation on the Custody of Cash of the Central Bank of Brazil. The Collegiate Board of the Central Bank of Brazil, in a session held on 22 June 2011, based on art. 10, item II, of Law No. 4.595 of 31 December 1964, and on Resolution No. 3.322 of 27 October 2005, R E S O L V E S : Art. 1 The art. 1 of Circular No. 3.298 of 1 November 2005, shall henceforth have the following wording: "Art. 1 .............................................. Sole paragraph. It is incumbent upon the Department of Currency in Circulation (Mecir) to manage and oversee the Custody of Cash of the Central Bank of Brazil, as well as to establish the definition of: I - targets to be met by the custodian financial institution in relation to the sorting and distribution of cash; and II - operational procedures concerning the movements of cash between Bacen and the custodian financial institution." (NR) Art. 2 The arts. 9, 14, 20, 23, 24, 25, 30 and 31 of the Regulation on the Custody of Cash of the Central Bank of Brazil, annexed to Circular No. 3.298 of 2005, shall henceforth have the following wording: "Art. 9 Financial institutions may be served at any custodian branch, provided that they record each operation through specific messages of the Brazilian Payment System (SPB)." (NR) "Art. 14. ............................................. ........................................................ X - usable coins. ........................................................ § 8 Usable metal coins shall be packaged in wrappers identified with the name of the depositing institution, with the denomination and with the quantity. The wrappers may not be torn and are intended exclusively for cash exchange operations, unless expressly determined by the Central Bank." (NR) "Art. 20. ............................................. ........................................................ IV - exceptionally, at the discretion of the Central Bank, forwarding of any other type of cash. .................................................." (NR) "Art. 23. ............................................. ........................................................ V - opportunity cost represented by the items of fixed assets used in the activity of custodian financial institution. .................................................." (NR) "Art. 24. ............................................. § 1 The custodian financial institution shall not pay remuneration in withdrawal, deposit and exchange operations carried out at its branches. .................................................." (NR) "Art. 25. .............................................. § 1 Upon authorization from Bacen, the custodian financial institution may adopt a remuneration percentage lower than that fixed. This factor shall be used as a reference in the periodic analysis of the cost statements of the custody system.
.................................................." (NR) "Art. 30. ............................................. ........................................................ § 2 The following occurrences are considered irregularities, for the purpose of applying penalties: ........................................................ XIX - supply of metal coins without exchange for an equal amount of banknotes; XX - supply of type II cash above the established limits; XXI - supply of cash classified as type V; XXII - supply of cash in recall; XXIII - failure to meet the established target for sorting custodied cash; XXIV - carrying out withdrawal, deposit or exchange operations with a fraction of a hundred; XXV - charging remuneration at a percentage lower than that established in withdrawal, deposit or exchange operations without prior announcement to the banking network; XXVI - charging remuneration in an amount higher than due; XXVII - sending of cash classified as type V to supplied custodian branches; XXVIII - carrying out operations of receiving cash classified as type I; and XXIX - divergence in the composition by type of the custodied cash. § 3 The provisions of items IX and XVII of this paragraph shall not apply to cash of types I, II, V, VI, VII, VIII, IX and X if it is proven that the respective wrappers maintain the original seal of Bacen or of the depositing institution. .................................................." (NR) "Art. 31. ............................................. ........................................................ § 2 The provisions of this article shall not apply to cash of types I, II, V, VI, VII, VIII, IX and X, if it is proven that the respective wrappers maintain the original seal of Bacen or of the depositing institution." (NR) Art. 3 This Circular enters into force on 3 July 2011. Art. 4 Paragraphs 5, 6 and 7 of art. 14 and items XI, XII and XIII of § 2 of art. 30 of the Regulation on the Custody of Cash of the Central Bank of Brazil, annexed to Circular No. 3.298 of 1 November 2005, are revoked. Brasília, 24 June 2011. Altamir Lopes Director of Administration