Resolution No. 2,215

RESOLUTION NO. 002215 ------------------- System for Registration of Credit Operations with the Public Sector - establishes criteria and extends the deadline for the beginning of collection of pecuniary fines established in Circular No. 2,584, of 28.06.95. THE CENTRAL BANK OF BRAZIL, in the form of art. 9 of Law No. 4,595, of 31.12.64, makes public that the NATIONAL MONETARY COUNCIL, in a session held on 29.11.95, based on arts. 9 and 37 of the aforementioned Law, and in view of the provisions of arts. 8, 10 and 11 of Resolution No. 2,008, of 28.07.93, R E S O L V E D: Art. 1 Establish that the delay and incorrect registration of data in the System for Registration of Credit Operations with the Public Sector (CADIP), instituted by Circular No. 2,367, of 23.09.93, subject Financial Institutions and Leasing Companies to the payment of a pecuniary fine calculated based on the criteria established in this Resolution. Paragraph 1 The maintenance of incorrect registration in the System shall be treated, for the purposes of this Resolution, as late information, for the period of time in which, in that condition, it has remained in the System's database. Paragraph 2 The fine for delay and for incorrect registration shall be individualized per credit operation and calculated based on the number of business days counted from the date established for the registration of the data, in accordance with the criteria defined in art. 3 of Circular No. 2,544, of 23.02.95. Paragraph 3 The events subject to fine are individualized by information module of each credit operation, as established in art. 1 of Circular No. 2,544, of 23.02.95, prevailing, for the calculation of the amount of the fine related to a credit operation, the occurrence of that module in which the greatest number of days of delay in the registration or rectification of data has been verified. Paragraph 4 Differences lower, in absolute value, than 2.5% (two and a half percent) of the amounts originally registered shall not be considered for the purpose of applying a fine. Paragraph 5 The fines shall be calculated up to the fifth business day of each month, based on the events occurring in the previous month, and debited on the 15th day of the calculation month or the immediately following business day, if that day is not a business day. Art. 2 Establish the following limits for the application of the pecuniary fines referred to in this Resolution: a) the pecuniary fine to be applied per business day of delay or of maintenance of incorrect registration in the System's database is R$ 150.00 (one hundred and fifty reais); b) the amount of the pecuniary fine to be applied per credit operation and per calculation period, for late registration or maintenance of incorrect registration in the System's database is limited to R$ 4,500.00 (four thousand five hundred reais) or 2% (two percent) of the institution's net equity, registered in the balance sheet immediately prior to the regularization of the
pending issue, whichever is lower; c) the cumulative amount of the fine per calculation period and per Financial Institution or Leasing Company is limited to R$ 100,000.00 (one hundred thousand reais) or 6% (six percent) of the institution's net equity, registered in the balance sheet immediately prior to the regularization of the pending issue, whichever is lower. Art. 3 Extend to 01.01.96 the deadline for the beginning of collection of fines arising from delay and incorrect registration of data in the System for Registration of Credit Operations with the Public Sector (CADIP). Art. 4 Establish that the fines referred to in this Resolution shall be debited to the "Banking Reserves" account of the institution holding it. Paragraph 1 Institutions that do not hold the Banking Reserves account must enter into an agreement under the terms provided in Circular No. 2,425, of 15.06.94. Paragraph 2 Until the agreement referred to in the previous paragraph is signed, the penalized institution must pay the fine at the Regional Office of the Central Bank of Brazil of its jurisdiction. Art. 5 Authorize the Department of Public Debt and the Department of Information Technology of the Central Bank of Brazil to adopt the complementary measures necessary for compliance with the provisions of this Resolution. Art. 6 The fines referred to in this Resolution shall be applied without prejudice to the other penalties provided in art. 44 of Law No. 4,595, of 31.12.64. Art. 7 This Resolution enters into force on the date of its publication. Art. 8 Art. 5 of Circular No. 2,367, of 23.09.93, art. 4 of Circular No. 2,544, of 23.02.95, and Circular No. 2,584, of 28.06.95 are revoked. Brasília, 29 November 1995 Gustavo Jorge Laboissière Loyola President