RegAlert
2011-06-01 | Resolução CMN 3981

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Resolution CMN No. 3981 — Requires Collection of Banknotes Deemed Inadequate for Circulation Due to Damage Allegedly Caused by Anti-Theft Devices

Financial institutions holding Reserve Bank or Settlement accounts must retain and remit to the Central Bank of Brazil any banknotes considered inadequate for circulation due to suspected damage from anti-theft devices. This obligation also applies to banknotes owned by the institutions that were accidentally damaged or damaged during a failed theft attempt. Holders of banknotes damaged by anti-theft devices are not entitled to reimbursement. The Central Bank of Brazil is authorized to set deadlines for remittance, charge costs for analysis and replacement production, and issue necessary norms for execution.

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RESOLUTION No. 003981

Determines collection of banknotes considered inadequate for circulation due to damage allegedly caused by anti-theft devices.

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the National Monetary Council, in an extraordinary session held on May 31, 2011, having regard to the provisions of Article 4, item II, of the aforementioned Law, and Article 10 of Law No. 8,697, of August 27, 1993,

RESOLVES:

Article 1. Financial institutions holding Reserve Bank Accounts or Settlement Accounts, upon receiving banknotes considered inadequate for circulation with suspicion of damage caused by anti-theft devices, shall retain them and remit them to the Central Bank of Brazil.

Paragraph 1. The remittance to the Central Bank of Brazil also applies to banknotes owned by the financial institutions that were accidentally damaged or damaged in a failed attempt at theft or robbery.

Paragraph 2. Banknotes damaged by anti-theft devices shall not be subject to reimbursement to the holder.

Article 2. The Central Bank of Brazil is authorized to set deadlines for remittance, to charge costs related to the procedures for analysis of the collected material and production of replacement banknotes, as well as to issue norms and adopt measures deemed necessary for the execution of the provisions of this Resolution.

Article 3. This Resolution enters into force on the date of its publication.

Brasília, June 1, 2011.

Alexandre Antonio Tombini
President of the Central Bank

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Lineage: In force

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Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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