CMN Resolution No. 1568 - Prohibition of Charges for Specific Social Banking Services — BCB — BR

RESOLUTION NO. 001568

THE CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the President of the MONETARY COUNCIL, by act of January 16, 1989, based on Article 2 of Decree No. 94,303 of May 1, 1987, "ad referendum" of that Council, having regard to the provisions contained in Article 4, item IX, of the aforementioned Law,

RESOLVES:

I - To prohibit Financial Institutions from charging any remuneration for the provision of the following services:

a) checks in collection or deposit to be compensated by the same or another branch of the same establishment in the same or another location;

b) transfers and deposits (in the depositant's own check or in cash) made by individuals or legal entities for credit in their respective accounts in branches of the same bank;

c) payment orders or credit of any value:

between branches of the same financial institution in the same location; and
between different locations if executed through a messenger service.

d) provision of a checkbook with at least 20 (twenty) sheets, per month;

e) maintenance of active or demand deposit accounts of the judicial power;

f) entries in current accounts;

g) inquiries on electronic terminals;

h) maintenance of savings book accounts.

II - The remuneration of other services of financial institutions is subject to the provisions on prices contained in Provisional Measure No. 032 of January 15, 1989.

III - This Resolution enters into force on the date of its publication, with Resolutions Nos. 1,122 of April 4, 1986, and 1,275 of March 19, 1987, and Circular No. 1,034 of May 22, 1986, being revoked.

Brasília-DF, January 16, 1989

Elmo de Araujo Camões
President

What changed in the obligations

Against CMN Resolution No. 1122 - Bank Service Tariffs - Setting Remuneration Tables, Freezing Tariffs Charged by Financial Institutions, Annexing Maximum Tariff Table, Revoking Resolution 874 (1986-04-04)

7 new obligations · 1 change of scope · 12 not carried over

1 obligation is the same in both texts.

Changed (1)

Scope
Before
HAS DECIDED: VIII - The charging of any remuneration for the provision of the following services is prohibited: a) maintenance of mandatory deposit accounts or accounts payable to the order of the judiciary;
Now
I - To prohibit Financial Institutions from charging any remuneration for the provision of the following services: e) maintenance of active or demand deposit accounts of the judicial power;

New in this text (7)

I - To prohibit Financial Institutions from charging any remuneration for the provision of the following services: a) checks in collection or deposit to be compensated by the same or another branch of the same establishment in the same or another location;
I - To prohibit Financial Institutions from charging any remuneration for the provision of the following services: b) transfers and deposits (in the depositant's own check or in cash) made by individuals or legal entities for credit in their respective accounts in branches of the same bank;
I - To prohibit Financial Institutions from charging any remuneration for the provision of the following services: c) payment orders or credit of any value: 1. between branches of the same financial institution in the same location; and
I - To prohibit Financial Institutions from charging any remuneration for the provision of the following services: c) payment orders or credit of any value: 2. between different locations if executed through a messenger service.
I - To prohibit Financial Institutions from charging any remuneration for the provision of the following services: f) entries in current accounts;
I - To prohibit Financial Institutions from charging any remuneration for the provision of the following services: g) inquiries on electronic terminals;
I - To prohibit Financial Institutions from charging any remuneration for the provision of the following services: h) maintenance of savings book accounts.

Not carried over (12)

HAS DECIDED: I - To determine, in accordance with Article 35, Paragraph 2, of Decree-Law No. 2,284 of March 10, 1986, the freezing of the tariffs charged by services provided by banking establishments, savings banks, and other financial institutions, to the extent applicable.
HAS DECIDED: II - To establish that the charging of services may not be made at levels higher than those fixed in the annexed table.
HAS DECIDED: III - The fixing of tariffs for the provision of services, including collection and payment, to federal, state, and municipal government agencies, direct or indirect, public service concessionaires, and natural and legal persons, which have not been subject to specific tariffs, shall be subject to prior authorization by the Central Bank.
HAS DECIDED: IV - The provision of conventional services, that is, services offered indiscriminately to all customers (account statements, signature verification, duplicate copies of documents, etc.), which have not been subject to specific tariffs, may not be charged at levels higher than those practiced until February 28, 1986.
HAS DECIDED: V - The provision of non-conventional services (rental of safes, custody, cash transport, etc.), which have not been subject to specific tariffs, shall have its remuneration freely agreed upon by the parties.
HAS DECIDED: VI - Expenses with postage, telegrams, telex, telephone calls, and teleprocessing performed by the bank shall be reimbursed by users, provided they refer to services requested by them.
HAS DECIDED: VII - The form, conditions, and basis for charging tariffs shall be communicated to the user by the institution providing the services.
"I - Credit, financing, and investment companies must prominently state in their financing contracts: a) the effective interest rate of the operation, in its monthly and annual expressions;
"I - Credit, financing, and investment companies must prominently state in their financing contracts: b) the costs related to credit opening;
"I - Credit, financing, and investment companies must prominently state in their financing contracts: c) the value of the Tax on Credit, Exchange, and Insurance Operations, and on Operations relating to Securities and Financial Instruments (IOF); and
"I - Credit, financing, and investment companies must prominently state in their financing contracts: d) the total amount to be paid by the borrower."
"I - Credit, financing, and investment companies must prominently state in their financing contracts: X - It is prohibited, in financing operations for the acquisition of goods and services, the charging, by intervening stores, service providers, or any other intermediaries, of additional amounts beyond those provided in this Resolution.

“Not carried over” means the sentence has no counterpart in this text; the rule can still be in force in another text.

CMN Resolution No. 1568 - Prohibition of Charges for Specific Social Banking Services

RESOLUTION NO. 001568

Lineage: Superseded

Timeline

What changed in the obligations

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