Circular No. 4008 — Establishes special rules on making returned checks available to customers during the public health risk situation caused by the new Coronavirus (Covid-19)

The Collegiate Board of Directors of the Central Bank of Brazil, in a session held on April 28, 2020, based on Article 11, item VI, of Law No. 4.595 of December 31, 1964, and considering the provisions of Article 19, item IV, of the aforementioned Law, as well as Law No. 10.214 of March 27, 2001, and Circular No. 3.532 of April 25, 2011,

R E S O L V E S:

Article 1. The returned check within the scope of the Check Clearing Centralizer (Compe) must, from the date of entry into force of this Circular until September 30, 2020, be made available to the depositing customer within 1 (one) business day, from the end of the blocking period, depending on the financial institution where the check was accepted.

Sole Paragraph. During the period of effect of the rule contained in the caput, the provisions of Article 42 of the Regulation annexed to Circular No. 3.532 of April 25, 2011, shall not apply.

Article 2. Participating institutions of Compe must post a notice in a visible location within their premises, as well as communicate to clients through other available customer service channels, with clear, precise, prominent information in the Portuguese language regarding the rules addressed in the caput and the sole paragraph of Article 1.

Article 3. This Circular enters into force on the date of its publication.

Otávio Ribeiro Damaso João Manoel Pinho de Mello Director of Regulation Director of System Organization Financial and Resolution