Resolution CMN No. 1091 — Transfers balances of voluntary deposit accounts held by commercial banks and savings banks at Banco do Brasil S/A to the Central Bank

RESOLUTION NO. 001091

THE CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the MONETARY COUNCIL, in a session held on this date, having regard to the provisions of Articles 10, item III, and 19, item III and Paragraph 2, of the aforementioned Law,

RESOLVES:

I - To determine the transfer, to the Central Bank, effective February 28, 1986, of the balances existing in the voluntary deposit accounts held by commercial banks and savings banks at Banco do Brasil S/A.

II - The debits and credits in the voluntary deposit accounts held at Banco do Brasil S/A shall be incorporated, daily, into the "Bank Reserves" accounts of the commercial banks and savings banks, existing at the Central Bank, provided that transit items, resulting from Clearing, withdrawals, and deposits, carried out in areas not integrated into a Regional Clearing System, shall be incorporated with a value date, so as to enable the daily calculation of the actual position of each "Bank Reserves" account.

III - Banco do Brasil S/A shall continue to provide commercial banks and savings banks with daily and monthly statements of the movement of funds occurring throughout the Country, for the purpose of reconciliation with their internal information, and the current scheme for handling withdrawal requests submitted by institutions shall also remain in place.

IV - For the movement of the voluntary deposit accounts of commercial banks and savings banks, carried out by their branches in the Country, Banco do Brasil S/A shall be entitled to remuneration, by document processed in the "Caixa Única" system, in accordance with the conditions to be published by the Central Bank.

V - The remuneration referred to in the previous item - to be obtained through cost allocation and an administration fee - shall be debited, by the Central Bank, to the "Bank Reserves" accounts of commercial banks and savings banks, credited to Banco do Brasil S/A, which, for this purpose, shall provide the Central Bank with a monthly analytical statement of the quantity of documents processed, discriminating the type of document and the amount of the expense borne by each user institution of the "Caixa Única" system.

VI - The Central Bank may adopt the measures deemed necessary for the execution of this Resolution.

VII - This Resolution shall enter into force on February 28, 1986, with Resolutions Nos. 629 and 896 of July 23, 1980, and February 2, 1984, respectively, being repealed.

Brasília-DF, February 20, 1986

Fernão Carlos Botelho Bracher
President