Resolution CMN No. 1682 — Amends the Regulation annexed to Resolution No. 1,631 of August 24, 1989, and establishes a new effective date

RESOLUTION NO. 001682

AMENDS THE REGULATION ANNEXED TO
RESOLUTION NO. 1,631, OF 08/24/89, AND ESTABLISHES A NEW DATE FOR ITS ENTRY INTO FORCE.

THE CENTRAL BANK OF BRAZIL, IN ACCORDANCE WITH ARTICLE 9 OF LAW NO. 4,595, OF 12/31/64, MAKES PUBLIC THAT THE MONETARY COUNCIL, IN A SESSION HELD ON THIS DATE, HAVING REGARD TO THE PROVISIONS OF ARTICLE 4, PARAGRAPH VIII, OF THE SAID LAW, AND OF ARTICLE 69 OF LAW NO. 7,357, OF 09/02/85,

RESOLVES:

ART. 1. TO GIVE NEW WORDING TO THE REGULATION ISSUED BY RESOLUTION NO. 1,631, OF 08/24/89, WHICH SHALL ENTER INTO FORCE IN ACCORDANCE WITH THE ANNEXED DOCUMENT.

ART. 2. TO DELEGATE COMPETENCE TO THE CENTRAL BANK OF BRAZIL TO ISSUE COMPLEMENTARY NORMS INTRODUCING THE NECESSARY MODIFICATIONS TO THE SAID REGULATION.

ART. 3. TO EXTEND THE EFFECTIVE DATE OF RESOLUTION NO. 1,631, OF 08/24/89 AND ITS REGULATION, AS PUBLISHED BY THIS RESOLUTION, TO 03/16/90.

ART. 4. THIS RESOLUTION SHALL ENTER INTO FORCE ON THE DATE OF ITS PUBLICATION.

BRASÍLIA (DF), JANUARY 31, 1990

JOSÉ TUPY CALDAS DE MOURA
ACTING PRESIDENT

"REGULATION ANNEXED TO RESOLUTION NO. 1,631, OF 08/24/89

CHAPTER I

ON THE OPENING, MOVEMENT, AND CLOSURE OF ACCOUNTS

ART. 1. THE COMPLETE IDENTIFICATION OF THE DEPOSITOR IS MANDATORY FOR THE OPENING OF A CHECKING ACCOUNT.

ART. 2. IN THE SUPPLY OF CHECKBOOKS, THE FOLLOWING MUST BE OBSERVED:

A) DELIVERY IS PROHIBITED IF THE ACCOUNT HOLDER OR THEIR ATTORNEY APPEARS IN THE REGISTER OF ISSUERS OF BOUNCED CHECKS (CCF) REFERRED TO IN CHAPTER III OF THIS REGULATION; B) THE BANKING ESTABLISHMENT MAY, AT ITS DISCRETION, SUSPEND DELIVERY WHEN THE ACCOUNT HOLDER OR THEIR ATTORNEY HAS A RESTRICTIVE CREDIT RECORD; C) THE FIRST CHECKBOOK MAY ONLY BE DELIVERED WITH EXPRESS AUTHORIZATION FROM THE BRANCH MANAGEMENT.

ART. 3. BEFORE THE SUPPLY OF THE FIRST CHECKBOOK OR WHEN, FOR ANY REASON, THE HOLDER IS PREVENTED FROM RECEIVING IT, THE ACCOUNT MAY ONLY BE OPERATED VIA A NOMINATIVE UNBOUND CHECK MADE OUT TO THE ISSUER ITSELF, WITHOUT CHARGE TO THE ACCOUNT HOLDER, OR VIA ELECTRONIC PAYMENT MEANS.

ART. 4. THE OPENING, MAINTENANCE, OR CLOSURE OF A CHECKING ACCOUNT WHOSE HOLDER APPEARS OR HAS APPEARED IN THE REGISTER OF ISSUERS OF BOUNCED CHECKS (CCF) IS AT THE DISCRETION OF EACH ESTABLISHMENT, OBSERVING THE PROVISIONS OF ARTICLE 2, AND THE CENTRAL BANK OF BRAZIL MAY ORDER ITS CLOSURE.

ART. 5. AN ACCOUNT OPENED FOR THE CREDIT OF SALARIES, PENSIONS, OR RETIREMENT BENEFITS CANNOT BE CLOSED.

CHAPTER II

ON THE RETURN OF CHECKS

ART. 6. A CHECK MAY BE RETURNED FOR ONE OF THE FOLLOWING REASONS CLASSIFIED:

CHECK WITHOUT FUNDS PROVISION

11 - CHECK WITHOUT FUNDS - 1ST PRESENTATION;
12 - CHECK WITHOUT FUNDS - 2ND PRESENTATION;
13 - ACCOUNT CLOSED;
14 - SHAM PRACTICE;

OBSTACLE TO PAYMENT

21 - COUNTER-ORDER (OR REVOCATION) OR OPPOSITION (OR STAY) TO PAYMENT BY THE ISSUER OR THE HOLDER; 22 - DISCREPANCY OR INSUFFICIENCY OF SIGNATURE; 23 - CHECKS ISSUED BY ENTITIES AND AGENCIES OF THE DIRECT AND INDIRECT FEDERAL PUBLIC ADMINISTRATION, IN DISAGREEMENT WITH THE REQUIREMENTS CONTAINED IN ARTICLE 74, PARAGRAPH 2, OF DECREE-LAW NO. 200, OF 02/25/67; 24 - JUDICIAL BLOCK OR DETERMINATION BY THE CENTRAL BANK OF BRAZIL; 25 - CANCELLATION OF CHECKBOOK BY THE DRAWING BANK; 26 - TEMPORARY INOPERATIVENESS OF TRANSPORT; 27 - MUNICIPAL HOLIDAY NOT FORESEEN;

CHECK WITH IRREGULARITY

31 - FORMAL ERROR (WITHOUT DATE OF ISSUE, WITH THE MONTH WRITTEN NUMERICALLY, ABSENCE OF SIGNATURE, NON-REGISTRATION OF THE AMOUNT IN WORDS); 32 - ABSENCE OR IRREGULARITY IN THE APPLICATION OF THE CLEARING STAMP; 33 - ENDORSEMENT DISCREPANCY; 34 - CHECK PRESENTED BY A BANKING ESTABLISHMENT OTHER THAN THE ONE INDICATED IN THE BLACK CROSSING, WITHOUT THE ENDORSEMENT-MANDATE; 35 - FRAUDULENT CHECK, ISSUED WITHOUT PRIOR CONTROL OR RESPONSIBILITY OF THE BANKING ESTABLISHMENT ("UNIVERSAL CHECK"), OR WITH ALTERATION OF THE DRAWING PLACE;

IMPROPER PRESENTATION

41 - CHECK PRESENTED TO A BANK OTHER THAN THE DRAWING BANK; 42 - CHECK NOT CLEARABLE IN THE SESSION OR CLEARING SYSTEM IN WHICH IT WAS PRESENTED; 43 - CHECK PREVIOUSLY RETURNED FOR REASONS 21, 22, 23, 24, AND 31, NOT CAPABLE OF RE-PRESENTATION DUE TO THE PERSISTENCE OF THE REASON FOR RETURN; 44 - EXPIRED CHECK; 45 - CHECK ISSUED BY AN ENTITY OBLIGED TO CARRY OUT MOVEMENT AND UTILIZATION OF NATIONAL TREASURY RESOURCES VIA BANK ORDER; 49 - NULL REMITTANCE, CHARACTERIZED BY THE RE-PRESENTATION OF A CHECK RETURNED FOR REASONS 12, 13, 14, 43, 44, AND 45, AND THE RETURN MAY OCCUR AT ANY TIME.

ART. 7. REASON 12 IS CHARACTERIZED WHEN RE-PRESENTATION OCCURS ON A DATE DIFFERENT FROM THE OCCURRENCE OF REASON 11.

ART. 8. REASON 14, SHAM PRACTICE, TO BE USED EXCLUSIVELY BY BANKS THAT ASSUME THE "COMMITMENT OF READY ACCEPTANCE" REFERRED TO IN ARTICLE 13, IS CHARACTERIZED WHEN:

A) MORE THAN 3 (THREE) CHECKS WITHOUT FUNDS WITH A VALUE OF UP TO 5 (FIVE) BTN, DRAWN AGAINST THE SAME DEPOSIT ACCOUNT, ARE PRESENTED ON THE SAME DAY; OR B) 3 (THREE) OR MORE CHECKS WITHOUT FUNDS WITH A VALUE OF UP TO 5 (FIVE) BTN HAVE ALREADY BEEN PAID ON DIFFERENT DATES DUE TO THE REFERRED "COMMITMENT".

ART. 9. REASON 22 MAY ONLY BE ALLEGED FOR A CHECK WITH AVAILABLE FUNDS.

ART. 10. FOR RETURNS FOR REASONS 12 TO 14, BANKS ARE RESPONSIBLE FOR INCLUDING THE ACCOUNT HOLDER IN THE REGISTER OF ISSUERS OF BOUNCED CHECKS (CCF).

ART. 11. A CHECK IS PAYABLE ON DEMAND, CONSIDERING ANY CONTRARY STIPULATION AS WRITTEN OFF, AND MUST BE PRESENTED FOR PAYMENT, COUNTING FROM THE DATE OF ISSUE, WITHIN 30 (THIRTY) DAYS WHEN ISSUED IN THE PLACE WHERE THE DRAWING ESTABLISHMENT IS LOCATED, AND 60 (SIXTY) DAYS WHEN ISSUED IN A DIFFERENT PLACE.

ART. 12. AFTER 6 (SIX) MONTHS FROM THE DEADLINE PROVIDED IN THE PREVIOUS ARTICLE, THE CHECK SHALL BE RETURNED FOR REASON 44.

ART. 13. BANKS MAY ASSUME, WITH REGISTRATION AT THE CENTRAL BANK OF BRAZIL - DEPARTMENT OF ORGANIZATION AND BANKING AUTHORIZATIONS, A "COMMITMENT OF READY ACCEPTANCE", REVOCABLE AT ANY TIME, UNDER WHICH THEY COMMIT TO NOT RETURN CHECKS WITH A VALUE OF UP TO 5 (FIVE) BTN FOR REASONS 11 AND 12.

ART. 14. A SERVICE FEE EQUIVALENT TO 1 (ONE) BTN SHALL BE CHARGED BY THE EXECUTING ENTITY OF THE CHECK AND OTHER PAPER CLEARING SERVICE, FOR THE RETURN OF A CHECK TO THE CLEARING ROOM:

A) FROM THE DRAWING BANK, IN THE CASE OF OCCURRENCE CAUSED BY ANY OF THE REASONS FROM 11 TO 25, WHICH IT MAY TRANSFER TO THE ACCOUNT HOLDER WHEN REASONS 11 TO 24 ARE CONFIGURED; B) FROM THE PRESENTING BANK, IN THE CASE OF OCCURRENCE CAUSED BY ANY OF THE REASONS FROM 31 TO 49, WHICH IT MAY TRANSFER TO THE DEPOSITOR WHEN REASON 31 IS CONFIGURED.

CHAPTER III

ON THE REGISTER OF ISSUERS OF BOUNCED CHECKS (CCF)

ART. 15. THE REGISTER OF ISSUERS OF BOUNCED CHECKS (CCF) WILL COVER ALL PLACES IN THE COUNTRY AND WILL CONTAIN THE FOLLOWING DATA:

A) NAME OF THE ACCOUNT HOLDER;
B) CPF OR CGC, OR, IN ITS ABSENCE JUSTIFIED, FIELD FILLED WITH ZEROS; C) CODE NUMBER OF THE BANK AND BRANCH THAT COMMANDED THE INCLUSION; D) YEAR, MONTH, AND HALF-MONTH OF THE LAST OCCURRENCE; E) QUANTITY OF OCCURRENCES INCLUDED IN THE CCF, PER DEPOSITOR, BANK, AND BRANCH.

ART. 16. THE INCLUSIONS AND EXCLUSIONS OF OCCURRENCES IN THE CCF WILL BE CONSOLIDATED BY THE EXECUTING ENTITY OF THE CHECK AND OTHER PAPER CLEARING SERVICE AND DISTRIBUTED, ON MAGNETIC MEDIA, TO THE INSTITUTIONS REGISTERED IN THE SERVICE, BY THE LAST DAY OF THE SUBSEQUENT HALF-MONTH. THIS DEADLINE MAY BE REDUCED BY THE CENTRAL BANK OF BRAZIL, AFTER CONSULTING THE EXECUTING ENTITY.

ART. 17. THE EXECUTING ENTITY WILL PROVIDE, FREE OF CHARGE, TO EACH FINANCIAL INSTITUTION REGISTERED OR COMING TO BE REGISTERED IN THE CHECK AND OTHER PAPER CLEARING SERVICE, ON MAGNETIC MEDIA, AN UPDATED COPY OF THE REGISTER OF ISSUERS OF BOUNCED CHECKS (CCF).

ART. 18. THE EXECUTING ENTITY OF THE CHECK AND OTHER PAPER CLEARING SERVICE MAY ENTER INTO AGREEMENTS WITH FINANCIAL INSTITUTIONS AND ENTITIES THAT CARRY OUT CREDIT PROTECTION ACTIVITIES, FOR THE SUPPLY, AT A PRICE AND OPERATIONAL CONDITIONS ESTABLISHED BY IT, OF COPIES OF THE CCF AS WELL AS THE CONSOLIDATED MOVEMENTS PROVIDED FOR IN ARTICLE 17.

ART. 19. OCCURRENCES WILL BE EXCLUDED FROM THE REGISTER OF ISSUERS OF BOUNCED CHECKS:

A) AUTOMATICALLY, AFTER 5 (FIVE) YEARS FROM THE LAST INCLUSION; B) AT THE REQUEST OF THE DRAWING ESTABLISHMENT, OR ON THE INITIATIVE OF THE EXECUTING ENTITY ITSELF, IF THE INCLUSION WAS COMMANDED BY PROVEN ERROR, IN WHICH CASE THE INSTITUTION, AS SOON AS IT BECOMES AWARE OF THE FACT, MUST COMMAND THE EXCLUSION FROM THE CCF, WITHOUT CHARGE TO THE CLIENT; C) AT ANY TIME, AT THE REQUEST OF THE DRAWING ESTABLISHMENT, PROVIDED THAT THE CLIENT PROVES TO IT THE PAYMENT OF THE CHECK THAT GAVE RISE TO THE OCCURRENCE, AND, IN CASE OF SHAM PRACTICE, REGULARIZES THE DEBT; D) BY DETERMINATION OF THE CENTRAL BANK OF BRAZIL.

ART. 20. A SERVICE FEE PER OCCURRENCE, CORRESPONDING TO 10 (TEN) BTN, SHALL BE CHARGED FROM BANKING ESTABLISHMENTS, ADMITTING REIMBURSEMENT FROM THE ACCOUNT HOLDER EXCLUSIVELY IN THE CASE PROVIDED FOR IN ALINÉA "C" OF ARTICLE 19:

A) AT THE TIME OF EXCLUSION, WHEN IT CONCERNS AN OCCURRENCE INCLUDED DURING THE VALIDITY OF THE "COMMITMENT OF READY ACCEPTANCE" AND PROVIDED THAT THE SCENARIO PROVIDED FOR IN ARTICLE 24 HAS NOT OCCURRED; B) AT THE TIME OF INCLUSION, IN THE REMAINING CASES.

CHAPTER IV

ON THE FUND FOR THE PROMOTION OF THE ADEQUATE USE OF CHECKS

ART. 21. THE SERVICE FEE REFERRED TO IN ARTICLE 20 WILL REVERT IN FAVOR OF A FUND, MANAGED BY THE CENTRAL BANK OF BRAZIL - DEPARTMENT OF ORGANIZATION AND BANKING AUTHORIZATIONS (DEORB), NAMED FUNCHEQUE - FUND FOR THE PROMOTION OF THE ADEQUATE USE OF CHECKS, DESTINED TO SPONSOR THE DISSEMINATION OF THE CORRECT USE OF CHECKS.

CHAPTER V

ON TRANSITORY PROVISIONS

ART. 22. OCCURRENCES INCLUDED IN THE REGISTER OF ISSUERS OF BOUNCED CHECKS (CCF) UP TO THE DATE OF ENTRY INTO FORCE OF THIS RESOLUTION WILL BE EXCLUDED:

A) AUTOMATICALLY, AFTER 2 (TWO) YEARS, COUNTING FROM THE HALF-MONTH OF THE LAST INCLUSION; B) AT THE REQUEST OF THE DRAWING BANK, OBSERVING THE PROVISIONS IN ALINÉAS "B" AND "C" OF ARTICLE 19, INCLUDING WHEN IT CONCERNS THE OLD CONTUMACY CRITERION; C) BY DETERMINATION OF THE CENTRAL BANK OF BRAZIL.

ART. 23. THE DRAWING ESTABLISHMENT MAY CHARGE THE ACCOUNT HOLDER A SERVICE FEE CORRESPONDING TO 10 (TEN) BTN, RELATIVE TO THE EXCLUSIONS OF OCCURRENCES PROVIDED FOR IN ALINÉA "B" OF ARTICLE 22, PROVIDED THAT IT HAS NOT DONE SO AT THE TIME OF INCLUSION.

CHAPTER VI

ON FINAL PROVISIONS

ART. 24. THE REVOCATION OF THE "COMMITMENT OF READY ACCEPTANCE" REFERRED TO IN ARTICLE 13 IMPLIES IMMEDIATE COLLECTION, IN THE FULL AMOUNT, OF UNCOLLECTED SERVICE FEES DUE TO THE PROVISIONS OF ALINÉA "A" OF ARTICLE 20 OF THIS REGULATION.

ART. 25. THE DRAWING BANK IS OBLIGED TO PROVIDE, WHEN REQUESTED BY THE HOLDER OF A CHECK RETURNED FOR REASONS 11 TO 14, 21, 22, AND 31, ALL INFORMATION THAT ALLOWS THE IDENTIFICATION AND LOCATION OF THE ISSUER.

ART. 26. FOR THE PURPOSES OF WHAT IS CONTAINED IN THIS REGULATION, THE VALUES MENTIONED IN ARTICLES 8, 13, 14, 20, AND 23 SHALL ALWAYS BE EXPRESSED IN NEW CRUZEIROS, DISREGARDING THE CENTS.

ART. 27. REGARDING CCF OCCURRENCES, THE FOLLOWING MUST BE OBSERVED:

A) THEY MUST BE MANDATORILY INFORMED TO THE ACCOUNT HOLDER WHO CAUSED THEM, WHEN REQUESTED AND AFTER PRIOR IDENTIFICATION; B) THEY MAY ONLY BE INFORMED BY THE INSTITUTIONS AND ENTITIES REFERRED TO IN ARTICLES 17 AND 18 TO OTHER USERS, FOR EXCLUSIVE USE BY THESE, FOR THE PURPOSE OF COMPOSING OR UPDATING THEIR OWN REGISTER, WITH DISCLOSURE TO THIRD PARTIES PROHIBITED; C) THE NAME AND CGC OR CPF NUMBER MUST MANDATORILY APPEAR IN THE INFORMATION PROVIDED.

ART. 28. NO REMUNERATION MAY BE CHARGED FROM AN INTERESTED PARTY WHOSE NAME APPEARS IN THE CCF FOR CONSULTATION OR FOR UPDATING AN OCCURRENCE CONTAINED IN THE CCF, EXCEPT WHEN THE SCENARIO PROVIDED FOR IN ARTICLE 19 IS CONFIGURED.

ART. 29. THE AGREEMENTS PROVIDED FOR IN ARTICLE 18 MUST CONTAIN CLAUSES THAT DETERMINE COMPLIANCE, INsofar AS APPLICABLE, WITH THE PROVISIONS OF THIS REGULATION, ESPECIALLY THOSE OF ARTICLES 27 AND 28."