Resolution CMN No. 3417 — Amends Resolution 3.265 of March 4, 2005, regarding the foreign exchange market, and Resolution 3.389 of August 4, 2006, regarding the receipt of Brazilian export values

RESOLUTION NO. 003417

Amends Resolution 3.265, of March 4, 2005, which provides for the foreign exchange market and gives other provisions, and Resolution 3.389, of August 4, 2006, which provides for the receipt of the value of Brazilian exports and gives other provisions.

The CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law 4.595, of December 31, 1964, makes public that the MONETARY COUNCIL, in an extraordinary session held on October 27, 2006, based on Article 4, items V, VIII, and XXXI, of the aforementioned Law, and on Provisional Measure 315, of August 3, 2006,

RESOLVES:

Art. 1 The caput of Article 13 of Resolution 3.265, of March 4, 2005, shall be effective with the following wording:

"Art. 13 Foreign exchange operations, whose instrument of formalization and classification will follow a model defined by the Central Bank of Brazil, shall have a maximum term of seven hundred and fifty days for settlement, counted from the date of their contracting, observing:

...... (NR)"

Art. 2 Article 1 of Resolution 3.389, of August 4, 2006, shall be effective supplemented by the following §§ 3 and 4:

"§ 3 The institutions that are part of the National Financial System with which foreign exchange contracts for exports are entered into must, by the 15th (fifteenth) day of the month following the corresponding settlements, provide, through an electronic mechanism regulated by the Central Bank of Brazil, for exclusive access by the Federal Revenue Secretariat, the following data:

I - corporate name and National Registry of Legal Entities (CNPJ) number of the seller of foreign currency, if a legal entity, or name and Individual Taxpayer Registry (CPF) number, if a natural person;

II - amount of settlements, consolidated monthly by type of foreign currency and by nature of the operation;

III - amount of the equivalent in reais of the settlements referred to in item II, consolidated monthly; and

IV - name and National Registry of Legal Entities (CNPJ) number of the institution that is part of the National Financial System authorized to operate in the foreign exchange market, purchaser of the foreign currency.

§ 4 The data referred to in § 3 comprise the settlements of foreign exchange contracts relating to the shipment of goods and provision of services referred to in § 2. (NR)"

Art. 3 The Central Bank of Brazil is authorized to issue the rules and adopt the measures necessary for the execution of the provisions of this Resolution.

Art. 4 This Resolution enters into force on the date of its publication.

Belo Horizonte, October 27, 2006.

Henrique de Campos Meirelles
President