Resolution CMN No. 2817 — Dispenses formalities for opening and operating electronic deposit accounts and sets communication requirements

Resolution No. 2,817, of February 22, 2001 1

RESOLUTION NO. 2,817

Provides for the opening and operation of deposit accounts exclusively through electronic means, as well as regarding the use of this communication instrument.

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 February 22, 2001, based on Articles 3, item V, and 4, item VIII, of the aforementioned law and Law No. 4,728, of July 14, 1965,

R E S O L V E D:

Article 1. Establish that financial institutions and other institutions authorized to operate by the Central Bank of Brazil, when opening and operating deposit accounts exclusively through electronic means, are exempt from complying with the formalities pertinent to the verification of documentation in the presence of originals and the preparation of a liability declaration, as provided in Article 3 of Resolution No. 2,025, of November 24, 1993.

Paragraph 1. For the purposes of this Resolution, electronic means are considered to be the Internet, self-service terminals, telephone, and other distance communication means made available by the institution for the purpose of customer relations.

Paragraph 2. The deposit accounts referred to in the caput may only be opened by individuals and legal entities residing or domiciled in the country, holders of checking or savings accounts in the same institution or in another financial institution, and the respective proposal form must record information regarding the identification of the financial institution, the branch, and the aforementioned checking or savings deposit account.

Paragraph 3. The deposit accounts referred to in the caput may only receive deposits through:

I - debits in checking or savings accounts of the same ownership, identified in accordance with Paragraph 2, permitted only the use - provided that the deposit account number, the registration number in the Individual Taxpayer Registry (CPF) or the National Registry of Legal Entities (CNPJ), and the name(s) of the owner(s) are perfectly identified - of checks or transfer documents (DOC "C" and DOC "D") or electronic fund transfers;

II - credits related to the settlement of investments made on behalf and order of the owners of the deposit accounts, carried out by the institution that maintains them.

Paragraph 4. For the purposes of this Article, the ownership of the deposit accounts referred to in the caput must be verified:

Resolution No. 2,817, of February 22, 2001 2

I - in the case of an individual account, with respect to the same owner of an individual or joint checking or savings account;

II - in the case of a joint account, with respect to the same owners of a joint checking or savings account.

Paragraph 5. When the deposit accounts referred to in the caput are maintained in an institution that is not a multiple bank with a commercial portfolio, a commercial bank, or the Federal Savings Bank, the ownership referred to in this Article must be verified when funds transit through checking accounts of the same institution.

Paragraph 6. Except for the formalities referred to in the caput, the provisions of this Article do not relieve the responsible manager and the director designated in accordance with Articles 3 and 15 of Resolution No. 2,025, of 1993, from the responsibility set forth in Article 64 of Law No. 8,383, of December 30, 1991, and from compliance with the other provisions established in the legislation and current regulations.

Paragraph 7. The responsibility for observing procedures related to the prevention and combating of activities related to the crimes set forth in Law No. 9,613, of March 3, 1998, and complementary regulation, also applies to institutions in which deposit accounts referred to in the caput are opened.

Paragraph 8. The institution is authorized, with prior and express consent of the owners of the deposit accounts referred to in the caput, to convert these accounts into freely operable deposit accounts, provided that all formalities established in Resolution No. 2,025, of 1993, and subsequent regulations are observed.

Article 2. Financial institutions and other institutions authorized to operate by the Central Bank of Brazil that make electronic means available for customer relations must:

I - clearly and precisely state in them:

a) their corporate name and their status as a financial institution and/or an institution authorized to operate by the Central Bank of Brazil;

b) their customer service telephone numbers, available at least from 8:00 to 18:00 hours, on business days for purposes of operations practiced in the financial market, as well as the electronic addresses of the Internet page and electronic mail, if applicable;

c) the list of fee-based services and respective values;

II - maintain, on their respective Internet pages, electronic message sending instruments, the receipt of which must be confirmed, observing also the maximum period of 5 days for formulating responses to requests for clarification and complaints made by owners of the deposit accounts referred to in this Resolution;

Resolution No. 2,817, of February 22, 2001 3

III - assume, through its board of directors, in accordance with Resolution No. 2,554, of September 24, 1998, responsibility for the control systems that guarantee the confidentiality and security of the electronic means made available, as well as the adequate monitoring of information related to the operation of the deposit accounts referred to in this Resolution, with said systems being duly evaluated and certified through audits conducted by an entity of recognized technical capacity;

IV - communicate to the Central Bank of Brazil or to the Securities and Exchange Commission, when applicable, in the manner and timeframe to be defined by said Autonomous Entities, the electronic means made available, including the Internet page and electronic mail addresses, if any.

Sole Paragraph. A period of 120 days, counted from the date of entry into force of this Resolution, is granted for institutions that are already using electronic means for customer relations to make the necessary changes to comply with the provisions established in this Article.

Article 3. The Central Bank of Brazil may establish conditions regarding the formalities set forth in Articles 1 and 3 of Resolution No. 2,025, of 1993, specifically with respect to the deposit accounts referred to in this Resolution, as well as regarding their operation.

Article 4. The Central Bank of Brazil and the Securities and Exchange Commission are authorized, within their respective areas of competence, jointly or separately, to issue norms and adopt measures deemed necessary for the execution of the provisions of this Resolution, including:

I - requesting additional information from institutions that make electronic means available for customer relations;

II - suspending or restricting the use of electronic means in customer relations when the institution is acting in disagreement with the provisions of this Resolution, as well as rendering the suspension or restriction void when the situation is regularized.

Article 5. This Resolution enters into force on the date of its publication.

Brasília, February 22, 2001.

Armínio Fraga Neto
President

This text does not replace the published version in the DOU and Sisbacen.