Regulatory Alerts2020-11-27 | Resolução Conjunta 2Joint Resolution No. 2 of November 27, 2020, Amending Joint Resolution No. 1 of May 4, 2020, Regarding the Implementation of the Open Banking System
The Central Bank of Brazil and the National Monetary Council issued Joint Resolution No. 2 to amend the implementation deadlines for the Open Banking System established in Joint Resolution No. 1. The resolution mandates that financial institutions implement data sharing for customer service channels and products by February 1, 2021, and for registration and transaction data by July 15, 2021. Further requirements for service sharing and additional product and transaction data sharing must be completed by August 30, 2021, and December 15, 2021, respectively.
Resolution No. 2 JOINT RESOLUTION NO. 2, OF NOVEMBER 27, 2020 Document revoked by Joint Resolution No. 3, of 6/24/2021. Amends Joint Resolution No. 1, of May 4, 2020, which provides for the implementation of the Open Financial System ( Open Banking ). The Central Bank of Brazil, in accordance with Art. 9 of Law No. 4,595, of December 31, 1964, makes public that its Executive Board, in a session held on November 4, 2020, and the National Monetary Council, in a session held on November 26, 2020, based on Art. 4, item VIII, of the aforementioned Law, and on Art. 9, full text and item II, of Law No. 12,865, of October 9, 2013, RESOLVED: Art. 1 Joint Resolution No. 1, of May 4, 2020, shall enter into force with the following amendments: "Art. 55. This Joint Resolution enters into force on June 1, 2020, with observance of the following deadlines: I - by February 1, 2021, for the implementation of the provisions set forth in items III and VI of Art. 44, as well as the requirements necessary for the sharing of data regarding customer service channels and products and services referred to in Art. 5, item I, letters "a" and "b", items 1 to 5; II - by July 15 2021, for the implementation of the provisions set forth in item IV of Art. 44, as well as the requirements necessary for the sharing of registration data and transactions referred to in Art. 5, item I, letters "c" and "d", items 1 to 5; III - by August 30 2021, for the implementation of the requirements necessary for the sharing of services referred to in Art. 5, item II; and IV - by December 15 2021, for the implementation of the requirements necessary for the sharing of: a) data regarding products and services referred to in Art. 5, item I, letter "b", items 6 to 10; and b) transaction data referred to in Art. 5, item I, letter "d", items 6 to 11." (NR) Art. 2 This Joint Resolution enters into force on the date of its publication. Roberto de Oliveira Campos Neto President of the Central Bank of Brazil