RegAlert2013-12-16 | Circular 3690Added
Circular No. 3690 — Regulates the classification of operations in the foreign exchange market
Circular No. 3690 establishes a mandatory classification code system for foreign exchange operations, requiring financial institutions and other entities authorized by the Central Bank of Brazil to use specific five-digit codes for transaction nature, two-digit codes for client type, and additional digits for government guarantees, foreign payees, and operation groups. The regulation defines short-term obligations as those with a payment term not exceeding 360 days and long-term obligations as those exceeding 360 days or without a fixed maturity. Incorrect classification subjects authorized institutions to administrative penalties and sanctions imposed by the Central Bank, and the availability of classification codes does not exempt parties from legal compliance responsibilities. The circular entered into force on February 3, 2014, replacing previous classification standards with a detailed set of nineteen annexes specifying codes for various economic activities.
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CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Regulates the classification of operations in the foreign exchange market.
The Collegiate Board of the Central Bank of Brazil, in a session held on December 12, 2013, based on the provisions of Article 23 of Law No. 4,131, of September 3, 1962;
On Articles 10, VII, and 11, III, of Law No. 4,595, of December 31, 1964, and on Article 38 of Resolution No. 3,568, of May 29, 2008,
RESOLVES:
Art. 1 The codifications regarding the nature of the operations contained in the tables annexed to this Circular constitute the Classification Code referred to in § 1 of Article 23 of Law No. 4,131, of September 3, 1962.
Art. 2 Incorrect classification subjects financial institutions and other institutions authorized to operate by the Central Bank of Brazil, authorized to operate in the foreign exchange market, to the penalties provided for in legislation and to other administrative sanctions by the Central Bank of Brazil.
Art. 3 The existence of codes for classifying operations and the possibility of making records in the Câmbio System do not eliminate the responsibility of the involved parties regarding compliance with legal provisions, as well as specific norms and procedures defined by the Central Bank of Brazil or other government bodies/entities.
Art. 4 The nature of the operation is composed of twelve elements, as follows, contained in the annexes to this Circular indicated below:
I - code of the nature of the fact that originates the foreign exchange operation: composed of the initial five digits: Annexes I to XIII;
II - nature of the customer, buyer or seller of foreign currency, in the Country: composed of the following two digits: Annex XIV;
III - indication regarding the existence or non-existence of a guarantee from the Brazilian Government, granted directly by the Union or on its behalf: Annex XV;
IV - nature of the payer/payee abroad: represented by the ninth and tenth digits: Annex XVI; and
V - identification of the group to which the operation belongs: represented by the last two digits: Annex XVII.
Art. 5 For the purposes of classifying operations carried out in the foreign exchange market, it is defined:
I - short term: obligations and rights whose total term for payment/receipt does not exceed 360 (three hundred and sixty) days;
II - long term: obligations and rights whose final maturity occurs in a term exceeding 360 (three hundred and sixty) days or that do not have a fixed maturity.
Art. 6 This Circular enters into force on February 3, 2014.
Luiz Edson Feltrim
Deputy Director of Regulation
This text does not replace that published in the DOU of 12/17/2013, Section 1, p. 39-41, and in Sisbacen.
ANNEX I TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations related to foreign trade
| NATURE OF OPERATION | CODE NO. |
|---|---|
| Export of goods | 12005 |
| Import of goods | 12012 |
| Back-to-back operations | 12029 |
| International orders | 12036 |
| Adjustments in commercial transactions | 12043 |
ANNEX II TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations related to transport
| NATURE OF OPERATION | CODE NO. |
|---|---|
| Air | |
| Freight | |
| - on export | 22002 |
| - on import | 22019 |
| - other freight | 22026 |
| Other transport revenues/expenses | 22033 |
| Chartering | 22040 |
| Passages | 22057 |
| Maritime | |
| Freight | |
| - on export | 22105 |
| - on import | 22112 |
| - other freight | 22129 |
| Other transport revenues/expenses | 22136 |
| Chartering | 22143 |
| Passages | 22150 |
| Road | |
| Freight | |
| - on export | 22208 |
| - on import | 22215 |
| - other freight | 22222 |
| Other transport revenues/expenses | 22239 |
| Chartering | 22246 |
| Passages | 22253 |
| Other Modes | |
| Waterway | 22909 |
| Pipeline transport and energy transmission | 22916 |
| Railway and aerospace | 22923 |
ANNEX III TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations related to insurance
| NATURE OF OPERATION | CODE NO. |
|---|---|
| Freight/Export Transport Insurance | |
| Premium | 27007 |
| Indemnity | 27014 |
| Freight/Import Transport Insurance | |
| Premium | 27021 |
| Indemnity | 27038 |
| Reinsurance | |
| Premium | 27045 |
| Indemnity | 27052 |
| Life Insurance | |
| Premium | 27069 |
| Indemnity | 27076 |
| Other Direct Insurance | |
| Premium | 27083 |
| Indemnity | 27090 |
| Others | |
| Recovery of claims | 27904 |
| Other services related to insurance | 27911 |
ANNEX IV TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations related to international travel
| NATURE OF OPERATION | CODE NO. |
|---|---|
| Expenses on international travel | |
| In the Country | 32009 |
| Abroad - tourism | 32016 |
| Abroad - other purposes | 32023 |
| Cards for international use | |
| Acquisition of goods and services | 32102 |
| Withdrawals | 32119 |
ANNEX V TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations related to unilateral transfers
| NATURE OF OPERATION | CODE NO. |
|---|---|
| Current Transfers | |
| Maintenance of residents | 37004 |
| Maintenance of students | 37011 |
| Taxes | 37028 |
| Social security contributions | 37035 |
| Contributions to pension funds | 37042 |
| Receipt of social security benefits | 37059 |
| Receipt of pension fund benefits | 37066 |
| International cooperation | 37073 |
| Donations | 37080 |
| International postal vouchers and refunds | 37097 |
| Other current transfers | 37107 |
| Capital Transfers | |
| Donations for infrastructure works and acquisition of capital goods | 37200 |
| Equity | 37217 |
| Other capital transfers | 37224 |
ANNEX VI TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations related to various services
| NATURE OF OPERATION | CODE NO. |
|---|---|
| Technical and Professional Services | |
| Postal and courier services | 47001 |
| Telecommunications services | 47018 |
| Computing services | 47025 |
| Financial services | 47032 |
| Brokerage on commodity exchange supported by Res. 2,687 | 47049 |
| Equipment rental | 47056 |
| Research and development | 47063 |
| Engineering/architecture services | 47070 |
| Repairs and maintenance on machinery and vehicles | 47087 |
| Waste treatment and pollution control | 47094 |
| Agriculture, mining and related services | 47104 |
| Manufacturing services | 47111 |
| Legal services | 47128 |
| Auditing, accounting and tax consulting | 47135 |
| Business consulting and public relations | 47142 |
| Advertising, market and opinion research and participation in fairs and exhibitions | 47159 |
| News agency services | 47166 |
| Audiovisual and related services | 47173 |
| Other information supply services | 47180 |
| Other technical, professional and administrative services | 47197 |
| Construction | |
| In the Country | 47300 |
| Abroad | 47317 |
| Trademarks | |
| Assignment | 47403 |
| Exploitation/use rights | 47410 |
| Patents | |
| Assignment | 47441 |
| Exploitation/use rights | 47458 |
| Franchises | 47472 |
| Supply of | |
| Technology | 47506 |
| Technical assistance services | 47513 |
| Complementary services and expenses | 47520 |
| Copyrights | |
| License for copying and distribution of computer programs | 47551 |
| License for copying and distribution - others | 47568 |
| Assignment or use of computer programs | 47575 |
| Assignment or use - others | 47582 |
| Commercial Transactions | |
| Commissions and other expenses on commercial transactions | 47609 |
| Personal, Cultural and Entertainment Services | |
| Travel education services | 47702 |
| Education services | 47719 |
| Travel health services | 47726 |
| Health services | 47733 |
| Tourist services | 47740 |
| Other personal, cultural and entertainment services | 47757 |
| Government Revenues and Expenses | |
| Military | 47805 |
| Consular and diplomatic corps | 47812 |
| Others | 47829 |
| Others | |
| Salaries and other compensations | 47908 |
| Real estate rental | 47915 |
| Economic and federative rights of professional athletes | 47922 |
| Carbon credits/emission rights | 47939 |
ANNEX VII TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations related to capital income
| NATURE OF OPERATION | CODE NO. |
|---|---|
| Financial and Capital Markets | |
| Stocks and Investment Funds | |
| - dividends/profit distribution | 52003 |
| - interest on equity | 52010 |
| Debt Securities | |
| - interest on securities - in the Country | 52106 |
| - interest on securities - external market | 52113 |
| - premiums and discounts on the issuance of Brazilian securities | 52120 |
| - premiums and discounts on the repurchase of Brazilian securities | 52137 |
| Loans and Financing | |
| Interest on loans | 52302 |
| Interest on credit lines | 52319 |
| Interest on advances and financing | |
| - export | 52333 |
| - import - short term | 52357 |
| - import - long term | 52364 |
| - other financing | 52371 |
| Interest on leases | 52395 |
| Direct Investment | |
| Dividends/profit distribution | 52405 |
| Interest on equity | 52412 |
| Deposits and Availability | |
| Interest on deposits and availability | 52508 |
| Others | |
| Gains or losses on financial applications abroad | 52900 |
| Interest on late payment and fines | 52917 |
ANNEX VIII TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations related to Brazilian capital
| NATURE OF OPERATION | CODE NO. |
|---|---|
| Financial and Capital Markets | |
| Stocks | 67005 |
| Investment Funds | 67043 |
| Brazilian Depositary Receipts (BDR) | |
| - stocks | 67081 |
| - other securities | 67098 |
| Debt Securities | |
| - short term | 67108 |
| - long term | 67115 |
| Derivatives | |
| - option premiums and periodic adjustments | 67201 |
| - deposit and redemption of margins, guarantees and collateral | 67218 |
| Loans and Financing | |
| Direct Loans | |
| - short term | 67304 |
| - long term | 67311 |
| Export Financing of Goods | |
| - short term | 67335 |
| - long term | 67342 |
| Export Financing of Services | |
| - short term | 67366 |
| - long term | 67373 |
| Financial Leasing | 67397 |
| Direct Investment | |
| Increase/reduction of capital | 67407 |
| Acquisition/transfer of ownership | 67414 |
| Deposits and Availability | |
| Availability abroad | 67500 |
| Deposits in account in the Country in foreign currency | 67517 |
| Others | |
| Judicial deposits, bail, guarantees and other third-party resources | 67524 |
| Acquisition of goods delivered abroad | 67902 |
| Brazil's participation in the capital of international organizations | 67919 |
| Obligations linked to interbank operations | 67926 |
| Operations with gold | 67933 |
| Purchase and sale of real estate abroad | 67940 |
ANNEX IX TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations related to foreign capital
| NATURE OF OPERATION | CODE NO. |
|---|---|
| Financial and Capital Markets | |
| Stocks | 72007 |
| Investment Funds | 72045 |
| Mutual Funds for Investment in Startups | 72052 |
| Real Estate Investment Funds | 72069 |
| Depositary Receipts (DR) | |
| - stocks | 72076 |
| - other securities | 72083 |
| Securities in the Country | 72100 |
| Private Debt Securities - External Market | |
| - short term | 72148 |
| - long term | 72155 |
| Public Debt Securities - External Market | |
| - short term | 72162 |
| - long term | 72179 |
| Securities and Financial Instruments (arts. 1 and 3 of Law No. 12,431) | 72193 |
| Derivatives | |
| - option premiums and periodic adjustments | 72203 |
| - deposit and redemption of margins, guarantees and collateral | 72210 |
| - option premiums and adjustments supported by Res. 2,687 | 72234 |
| Others | 72296 |
| Loans and Financing | |
| Direct Loans | |
| - short term | 72344 |
| - long term | 72351 |
| Financing | |
| - import and local expenses linked to import - long term | 72368 |
| - local expenses linked to import - short term | 72375 |
| - other financing | 72382 |
| Financial Leasing | 72399 |
| Direct Investment | |
| Increase/reduction of capital | 72409 |
| Acquisition/transfer of ownership | 72416 |
| Deposits and Availability | |
| Availability in the Country | 72502 |
| Availability in the Country in foreign currency | 72519 |
| Judicial deposits, bail, guarantees and other third-party resources | 72526 |
| Movements in the Country in accounts of residents abroad | |
| Financial applications and redemptions in the same institution | 72605 |
| As counterpart to foreign exchange operations | 72612 |
| Others | |
| Acquisition of goods delivered in the Country | 72904 |
| Purchase and sale of real estate in the Country | 72911 |
ANNEX X TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations related to arbitrage
| NATURE OF OPERATION | CODE NO. |
|---|---|
| Operations in the Country | |
| Spot settlement | 80013 |
| Future settlement | 80518 |
| Operations Abroad | |
| Spot settlement | 83034 |
| Future settlement | 83058 |
ANNEX XI TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations between institutions
| NATURE OF OPERATION | CODE NO. |
|---|---|
| Operations in the Country | |
| Interbank | |
| - spot and future settlement | 90302 |
| - forward settlement | 90357 |
| With Gold | |
| - spot settlement | 93017 |
| - future settlement | 93024 |
| Operations with foreign banking institution, as counterpart to reais in cash received from or sent to abroad | 90500 |
ANNEX XII TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations with the Central Bank of Brazil
| NATURE OF OPERATION | CODE NO. |
|---|---|
| Specific coverages | 95503 |
| Purchases from the market to the Central Bank | 95620 |
| Specific transfers | 95008 |
| Mandatory transfers | 95204 |
| Sales from the market to the Central Bank | 95101 |
NOTE: This table does not cover operations of purchase or sale of foreign currency to the Central Bank for, respectively, the constitution or release of deposits in foreign currency, which are classified in Annex XIII.
ANNEX XIII TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for special operations
| NATURE OF OPERATION | CODE NO. |
|---|---|
| Adjustment of the foreign exchange position relative to operations with information sent by monthly file | 99000 |
| Assumption of debts | 99176 |
| Deposits at the Central Bank of Brazil - Circ. 3,691, of 12/16/2013 | 99671 |
| BNDES-Exim linkage | 99224 |
| Proex linkage | 99217 |
| Others | 99200 |
| Payment of external debt for application in environmental projects | 99183 |
| Tourism agencies and tourist accommodation means - operations with banks and other institutions part of the SFN | 33606 |
ANNEX XIV TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations related to customers
| CUSTOMER | CODE NO. |
|---|---|
| Individuals | |
| Residents in the Country | 00 |
| Residents abroad | 02 |
| Non-financial Companies | |
| Public | 08 |
| Private | 09 |
| Financial Companies | |
| That accept demand deposits | |
| - Public | 52 |
| - Private | 55 |
| Other financial companies | |
| - Investment Funds | 56 |
| - Insurance and reinsurance companies | 58 |
| - Pension Funds | 59 |
| - Financial intermediaries that do not accept demand deposits | 61 |
| - Financial auxiliaries | 62 |
| Registration of operations in the interbank market | 66 |
| Non-governmental non-profit institutions | 71 |
| General Government of Brazil | 78 |
| Central Bank of Brazil | 79 |
| Multilateral Organizations | 81 |
| Diplomatic, consular representations and other foreign official entities | 84 |
| Agents and representatives of entities abroad | 87 |
ANNEX XV TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations related to the Brazilian Government guarantee
| GUARANTEE INDICATOR | CODE |
|---|---|
| With Brazilian Government guarantee | S |
| Without Brazilian Government guarantee | N |
ANNEX XVI TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Classification codes for operations related to payers/payees abroad
| PAYER/PAYEE ABROAD | CODE NO. |
|---|---|
| Individuals | |
| Residents in the Country | 00 |
| Residents abroad | 02 |
| Non-financial Companies | 05 |
| Financial Companies | |
| Banks and other financial intermediaries | 53 |
| Investment Funds | 56 |
| Insurance and reinsurance companies | 58 |
| Pension Funds | 59 |
| Other financial companies | 60 |
| Registration of operations in the interbank market | 66 |
| Non-governmental non-profit institutions | 71 |
| Foreign Governments | 73 |
| Foreign Central Banks | 74 |
| Government financing agencies | 75 |
| Multilateral Organizations | |
| Financial | 76 |
| Non-financial | 77 |
| Brazilian official entities | 83 |
| Other legal entities resident in the Country | 88 |
| Without payer/payee abroad | 90 |
ANNEX XVII TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Group codes
| GROUP | CODE NO. |
|---|---|
| Drawback | 30 |
| Export on consignment | 40 |
| Use of export credit insurance | 42 |
| Conversions and transfers between types of foreign capital | 46 |
| Foreign capital - changes in characteristics | 47 |
| Return of values | 49 |
| Advance receipt/payment - export/import - importer | 50 |
| Advance receipt/payment - export/import - third parties | 51 |
| Advance receipt - export - operations with term exceeding 360 (three hundred and sixty) days | 52 |
| Export Financing (Res. 3,622) | 57 |
| Payment orders in reais - third parties | 60 |
| Operations carried out by means of a banknote dispensing machine | 72 |
| Others | 90 |
ANNEX XVIII TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Codes related to affiliation relationships
| AFFILIATION RELATIONSHIP | CODE NO. |
|---|---|
| Operation between companies of the same economic group | |
| Customer has participation in the capital of the payer/payee | 11 |
| Payer/payee has participation in the capital of the customer | 12 |
| Other cases | 19 |
| Operation between companies that do not belong to the same economic group | 20 |
| Operation where customer and/or payer/payee is not a company | 30 |
ANNEX XIX TO CIRCULAR NO. 3,690, OF DECEMBER 16, 2013
Codes related to forms of delivery of foreign currency
| FORM OF DELIVERY | CODE NO. |
|---|---|
| Letter of credit - at sight | 10 |
| Letter of credit - at term | 15 |
| Deposit account | 20 |
| Check | 30 |
| In cash and/or traveler's checks | 50 |
| Prepaid card | 55 |
| Teletransmission | 65 |
| Securities and instruments | 75 |
| Symbolic | 90 |
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