Circular No. 3720 — Dispenses on the Submission of Member Information by Single Credit Cooperatives

The Collegiate Board of Directors of the Central Bank of Brazil, in a session held on September 4, 2014, having in view the provisions of Articles 9, 10, item IX, and 37 of Law No. 4,595 of December 31, 1964, 92, item I, of Law No. 5,764 of December 16, 1971, 10-A of Law No. 9,613 of March 3, 1998, 1, § 1, of Complementary Law No. 130 of April 17, 2009, and 2 of Resolution No. 4,368 of September 11, 2014,

R E S O L V E:

Art. 1 Single credit cooperatives must prepare and submit to the Central Bank of Brazil, monthly, information regarding their members and, where applicable, their legal or conventional representatives, through Document 5300 – Member Information, with code 44.1.3.271-4, of the Document Catalog (Cadoc).

§ 1 The Member Information document referred to in the caput must contain information relating:

I - to the member; and

II - to the legal or conventional representative of the member, where applicable.

§ 2 The provisions of the caput do not apply to single credit cooperatives in ordinary liquidation, extrajudicial liquidation, or under intervention.

Art. 2 Single credit cooperatives must keep the information used to prepare the document referred to in this Circular available to the Central Bank of Brazil for a period of five years, counted from the date of closure of the relationship with the member or their representative.

Art. 3 The institutions mentioned in Art. 1, resulting from a process of transformation, merger, incorporation, or demerger, assume the obligations of the transformed, merged, incorporated, or demerged institutions, regarding the provision of the information referred to in this Circular.

Art. 4 The procedures regarding the preparation and timely submission of the information referred to in this Circular are the responsibility of the director indicated in accordance with Art. 1 of Circular No. 3,504 of August 6, 2010.

Art. 5 The information referred to in this Circular will be used to register the relationships between members and their legal or conventional representatives, where applicable, and single credit cooperatives in the Customer Register of the National Financial System (CCS).

Art. 6 The Department of Financial System Monitoring (Desig) and the Department of Conduct Supervision (Decon) are authorized to detail the set of information to be provided regarding each of the items mentioned in § 1 of Art. 1, as well as to adopt the complementary measures necessary for the compliance with this Circular.

Art. 7 The submission of the information referred to in this Circular will begin with the base date of December 2014, according to the following schedule:

I - in assisted production regime, until the base date of June 2015; and

II - in definitive production regime, from the base date of July 2015.

Art. 8 This Circular enters into force on the date of its publication.

Anthero de Moraes Meirelles Sidnei Corrêa Marques Director of Supervision Director of Deputy Director of Regulation Financial System Organization and Rural Credit Operations Control

Luiz Edson Feltrim
Director of Institutional
Relations and Citizenship