CMN Resolution No. 4,880 — Public Service Hours and Business Days for Financial Market Operations

Resolution No. 4,880

CMN RESOLUTION NO. 4,880, OF DECEMBER 23, 2020

Provides for the public service hours in the premises of institutions authorized to operate by the Central Bank of Brazil, as well as for the business days for purposes of operations carried out in the financial market.

The Central Bank of Brazil, in accordance with Art. 9 of Law No. 4,595, of December 31, 1964, makes public that the Monetary Council, in a session held from December 18 to 23, 2020, based on Art. 4, item VIII, of the aforementioned Law,

RESOLVES:

Art. 1 This Resolution provides for the public service hours in the premises of institutions authorized to operate by the Central Bank of Brazil and for the business days for purposes of operations carried out in the financial market.

§ 1 For the purposes of this Resolution, public service hours include in-person service and service via self-service terminals in the premises of the institutions.

§ 2 The provisions of this Resolution do not apply to consortium administrators and payment institutions, which must observe the regulations issued by the Central Bank of Brazil in the exercise of their legal duties.

Art. 2 The institutions referred to in Art. 1 may establish, at their discretion and independently, the public service hours in their premises.

§ 1 The provisions of the caput do not apply to branches of multiple banks with commercial portfolios, commercial banks, and Caixa Econômica Federal, which must observe the following:

I - the minimum in-person service hours shall be five uninterrupted daily hours, with mandatory service during the period from 12:00 to 15:00, Brasília time;

II - on Ash Wednesday, on December 24, and in exceptional cases, such as local festivities or extraordinary events, special public service hours may be established, provided that a minimum period of two hours of in-person service is guaranteed.

§ 2 The institutions referred to in Art. 1 must publish the public service hours for each premise in a location and format visible to the public, and on their website.

Art. 3 There shall be no in-person service on the last business day of the year, admitting only operations between the institutions referred to in Art. 1 on that day.

Art. 4 If the premise maintains public service after the deadline hour from which it is no longer possible to settle operations in the next session in clearinghouses or settlement and clearing service providers, the operations carried out in that premise after that hour must be integrated into the movement of the first subsequent business day.

Sole paragraph. The deadline hour referred to in the caput must be published in each premise, in a location and format visible to the public.

Art. 5 In the event of a change in the public service hours of a premise, as well as in the cases referred to in Art. 2, § 1, item II, the new hours must be communicated to the public at least thirty days in advance.

§ 1 The advance notice mentioned in the caput does not apply to the case of expanding service hours.

§ 2 The expansion of service hours may be defined with respect to specific dates or periods, as well as cover all or part of the services provided by the institution.

Art. 6 Saturdays, Sundays, and national holidays, as well as:

I - Carnival Monday and Tuesday; and

II - the day dedicated to Corpus Christi,

are not considered business days for purposes of operations carried out in the financial market and for the provision of information to the Central Bank of Brazil.

Art. 7 The institutions referred to in Art. 1 may decide on the suspension of public service in their premises in the event of a public calamity, serious disturbance of internal order, or cases that may pose risks to the safety of employees, clients, and service users, as considered relevant by the institutions themselves.

Sole paragraph. The decision regarding the suspension of public service, as provided in the caput, must be based on relevant documents for each situation or event, such as police reports, fact communication reports, insurance company loss reports, and news published in newspapers, among others, which must be kept at the institution's headquarters available to the Central Bank of Brazil for a period of five years, counted from the date of the respective occurrence.

Art. 8 The Central Bank of Brazil is authorized to:

I - issue norms and adopt measures deemed necessary for the execution of the provisions of this Resolution; and

II - decide on non-service to the public, in the strict public interest, in special situations that may arise, in all or part of the national territory.

Art. 9 The following are repealed:

I - Resolution No. 2,932, of February 28, 2002;

II - Resolution No. 3,180, of March 29, 2004; and

III - Art. 17 of Resolution No. 4,072, of April 26, 2012.

Art. 10 This Resolution enters into force on March 1, 2021.

Bruno Serra Fernandes
President of the Central Bank of Brazil, substitute