Regulatory Alerts2020-07-16 | Carta Circular 4070Circular Letter No. 4070 — Amends Circular Letter No. 4,056 of May 25, 2020, Establishing Procedures for Adherence to the Instant Payment Arrangement (PIX)
The Central Bank of Brazil, through Circular Letter No. 4070, amends Circular Letter No. 4,056 to update the testing requirements and deadlines for institutions adhering to the PIX instant payment system. The regulation mandates specific functional, capacity, and security tests for accessing the DICT, while granting exemptions for certain providers based on their digital channel usage or client base. Institutions must submit required declarations and exemption requests via designated email addresses or digital protocols by specified deadlines in July, August, and September 2020.
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