Circular No. 3599 — Redefines the monitoring system by the Central Bank of Brazil of information on due and future debts of the Wage Variation Compensation Fund (FCVS)

The Collegiate Board of the Central Bank of Brazil, in a session held on June 14, 2012, based on the provisions of Articles 10, item VI, and 37 of Law No. 4,595 of December 31, 1964, and considering the provisions of Laws No. 8,004 of March 14, 1990, No. 8,088 of October 31, 1990, No. 8,100 of December 5, 1990, and No. 10,150 of December 21, 2000, and Decree No. 4,378 of September 16, 2002,

R E S O L V E:

Art. 1. Information relating to debts characterized as due and future debts of the Wage Variation Compensation Fund (FCVS) must be kept available to the Central Bank of Brazil for a minimum period of 5 (five) years, counted from the date of their novation or from the date of their prescription, in the case of those that have not been subject to novation.

Art. 2. The Department of Financial System Monitoring (Desig) is authorized to establish the form, deadline, and conditions for the disclosure of information relating to the FCVS by Caixa Econômica Federal, in its capacity as its administrator.

Art. 3. The provisions of this Circular do not exempt financial institutions and other institutions authorized to operate by the Central Bank of Brazil from complying with legal and regulatory requirements relating to the FCVS.

Art. 4. This Circular enters into force on the date of its publication.

Art. 5. Circular No. 2,649 of December 27, 1995, Circular Letters No. 2,952 of January 24, 2001, and No. 3,081 of January 20, 2003, and item "f" of § 1 of Circular Letter No. 3,334 of July 31, 2008, are hereby revoked.

                   Anthero de Moraes Meirelles Director of Supervision