Circular No. 3567 — Dispenses on the Provision of Information Regarding Credit Operations to the Credit Information System (SCR)

CIRCULAR NO. 003567

Dispenses on the provision of information regarding credit operations to the Credit Information System (SCR), as provided for in Resolution No. 3,658, of December 17, 2008.

The Collegiate Board of the Central Bank of Brazil, in a session held on December 7, 2011, taking into account the provisions of Resolution No. 3,658, of December 17, 2008,

RESOLVES:

Art. 1. The institutions mentioned in Art. 4 of Resolution No. 3,658, of December 17, 2008, must provide the Credit Information System (SCR) with information regarding the credit operations referred to in Art. 3 of that Resolution:

I - in an aggregated manner, including when carried out by branches and by companies located abroad that have their financial statements consolidated in accordance with Resolution No. 2,723, of May 31, 2000, and complementary regulation;

II - in an individualized manner regarding each of the operations, when the value of the set of the client's operations is equal to or greater than:

a) R$5,000.00 (five thousand reais), until the reference date of March 2012;

b) R$1,000.00 (one thousand reais), from the reference date of April 2012.

§ 1. The deadlines established in item II of this article do not apply to credit cooperatives and to microentrepreneur credit societies and small business companies, which must provide the information in an individualized manner regarding each of the operations, when the value of the set of the client's operations is equal to or greater than:

I - R$5,000.00 (five thousand reais), until the reference date of June 2012;

II - R$1,000.00 (one thousand reais), from the reference date of July 2012.

§ 2. The provision of information in an individualized manner regarding each of the operations, when the value of the set of the client's operations is equal to or greater than R$1,000.00 (one thousand reais), is permitted from the reference date of January 2012.

§ 3. The aggregated information mentioned in item I regarding credit operations carried out by branches and companies located abroad is intended for the purpose mentioned in item I of Art. 2 of Resolution No. 3,658, of 2008.

§ 4. The institutions referred to in the caput must communicate the non-existence of contracted credit operations, in the manner established by the Department of Monitoring of the Financial System and Information Management (Desig).

Art. 2. The institutions mentioned in Art. 4 of Resolution No. 3,658, of 2008, must provide the SCR with complementary individualized data regarding clients who are part of economic conglomerates.

Art. 3. Information regarding credit operations subject to negotiation with substantial retention of risks and benefits or control by the intervenor or the assignor, regarding the drawee, the debtor, or the ultimate borrower, as provided for in Resolution No. 3,533, of January 31, 2008, must be provided to the SCR in the name of the intervenor or the assignor.

§ 1. The institutions mentioned in Art. 4 of Resolution No. 3,658, of 2008, must identify the drawee, the debtor, or the ultimate borrower of the credit operations granted through the negotiation referred to in this article, observing item II of Art. 8 of that Resolution and item II of Art. 1 of this Circular.

§ 2. The provisions of this article also apply to negotiations carried out between the institutions mentioned in Art. 4 of Resolution No. 3,658, of 2008, and by the companies and funds referred to in Art. 5 of the same Resolution.

Art. 4. Information regarding credit operations subject to negotiation without substantial retention of risks and benefits or control by the intervenor or the assignor, as provided for in Resolution No. 3,533, of 2008, must be provided to the SCR in the name of the drawee, the debtor, or the ultimate borrower.

Sole paragraph. The provisions of this article also apply:

I - to credits resulting from the commercialization of goods and services, acquired by a merchant finance company (factoring) controlled by one of the institutions mentioned in Art. 4 of Resolution No. 3,658, of 2008, in the manner of Resolution No. 2,723, of 2000, and complementary regulation; and

II - to negotiations carried out between the institutions mentioned in Art. 4 of Resolution No. 3,658, of 2008, and by the companies and funds referred to in Art. 5 of the same Resolution.

Art. 5. Data regarding negotiable instruments issued by natural or legal persons in favor of the institutions mentioned in Art. 4 of Resolution No. 3,658, of 2008, resulting from credit operations of any modality, which represent a promise of payment in money or in product, must be provided to the SCR in the name of its issuer, and the provisions of item II of Art. 6 of this Circular do not apply.

Art. 6. The following information must not be provided to the SCR:

I - credits resulting from the commercialization of goods and services carried out by the companies referred to in Art. 5 of Resolution No. 3,658, of 2008, with the exception of those referred to in item I of the sole paragraph of Art. 4 of this Circular;

II - operations carried out through the acquisition or intermediation of securities and financial assets, including those with a commitment to repurchase or resell;

III - operations with financial derivative instruments;

IV - interbank deposits; and

V - credits resulting from insurance, co-insurance, reinsurance, capitalization bonds, consortium, complementary pension plans, and health plans.

Art. 7. For the purposes of this Circular, substantial retention of risks and benefits or control in the negotiation of credit operations is characterized when the institutions mentioned in Art. 4 of Resolution No. 3,658, of 2008, carry out:

I - the acquisition of the following financial instruments that attribute to the acquiring institution a significant participation in the risks and benefits regarding credit operations:

a) shares of investment funds in credit rights (FIDC);

b) shares of exclusive investment funds;

c) real estate receivables certificates (CRI);

d) debentures issued by credit securitization companies;

e) real estate credit notes (CCI), certificates of bank credit notes (CCCB), or other financial instruments representing the negotiation of the negotiable instruments referred to in Art. 5 of this Circular; and

f) other financial instruments representing the negotiation of credit operations;

II - in the manner of Art. 3 of this Circular, the negotiation in which:

a) the drawee, the debtor, or the ultimate borrower is not notified about the negotiation, in accordance with Art. 290 of Law No. 10,406, of January 10, 2002 (Brazilian Civil Code); and

b) the intervenor or the assignor assumes, even tacitly, the obligation to replace or repurchase, due to default by the drawee, the debtor, or the ultimate borrower, any of the operations among those negotiated.

§ 1. The provisions of this article also apply to negotiations of credit operations carried out with funds, with credit securitization companies, or with special purpose entities.

§ 2. Data regarding substantial retention or transfer of risks and benefits of part of the credit operations negotiated in the manner of Art. 3 of this Circular may only be provided to the SCR in a proportional manner, by the institutions involved in the negotiation, when it is possible to unequivocally identify the portion or the proportion of the value of the operation corresponding to the retained or transferred risks and benefits.

Art. 8. The provision of information to the SCR must be carried out considering the present value on the reference date, observing the provisions of Art. 9 of Resolution No. 2,682, of December 21, 1999.

Art. 9. The institutions mentioned in Art. 4 of Resolution No. 3,658, of 2008, must remit, at a minimum, the following information regarding judicial decisions related to credit operations:

I - the identification of the client;

II - the credit operation, when specified;

III - the reference date, when specified;

IV - the period of coverage; and

V - the nature of the decision, specifying the obligation to eliminate the registration of the operation in the SCR or to mark it as sub judice.

Sole paragraph. For the purposes of the provisions of item II of Art. 2 of Resolution No. 3,658, of 2008, the removal of information or the sub judice marking will be carried out for the reference date object of the judicial decision, according to the information remitted by the institution.

Art. 10. The institutions mentioned in Art. 4 of Resolution No. 3,658, of 2008, must remit, at a minimum, the following information regarding statements of disagreement presented by clients of credit operations:

I - the identification of the client;

II - the credit operation to which they refer;

III - the reference date;

IV - the period subject to disagreement; and

V - the reasons for the disagreement.

Art. 11. The institutions mentioned in Art. 4 of Resolution No. 3,658, of 2008, upon detecting fraud in the granting of an operation, must proceed to eliminate its registration in the SCR.

Sole paragraph. The elimination referred to in this article does not characterize an error in the remittance of information to the Central Bank of Brazil.

Art. 12. The institutions referred to in Art. 4 of Resolution No. 3,658, of 2008, must designate a director responsible for compliance with the provisions of this Circular and indicate an employee to answer any questions regarding the information provided to the SCR.

§ 1. The designation and indication referred to in this article must be registered in the Information System on Entities of Interest of the Central Bank (Unicad), established by Circular No. 3,165, of December 4, 2002.

§ 2. For the purposes of the responsibility referred to in this article, it is admitted that the designated director performs other functions in the institution, except those related to the administration of third-party resources and treasury operations.

Art. 13. The institutions referred to in Art. 4 of Resolution No. 3,658, of 2008, must keep available to the Central Bank of Brazil, for a minimum period of 5 (five) years, the data and the description of the methodology used for the preparation of the information provided to the SCR.

Art. 14. The institutions mentioned in Art. 4 of Resolution No. 3,658, of 2008, resulting from a process of transformation, incorporation, merger, or spin-off, assume the obligations of the transformed, incorporated, merged, or spun-off institutions, regarding the provision of information to the SCR, including with respect to the provisions of Arts. 9 and 10 of this Circular.

Art. 15. Desig is authorized to establish the form, deadlines, and conditions for the remittance, by the institutions mentioned in Art. 4 of Resolution No. 3,658, of 2008, of the information referred to in this Circular, including in a differentiated manner, observing the need for supervisory purposes.

Art. 16. This Circular enters into force on the date of its publication.

Art. 17. Circular No. 3,445, of March 26, 2009, is hereby revoked, and citations and the basis of validity of normative acts issued by the Central Bank of Brazil, based on the now revoked norm, shall have this Circular as their reference.

Brasília, December 12, 2011.

Anthero de Moraes Meirelles Carlos Hamilton Vasconcelos Araújo Director of Supervision Director of Economic Policy

Altamir Lopes
Director of Administration