Central Bank of Brazil Instruction Normative No. 748 - Procedures for verifying compliance with minimum paid-in capital and net worth limits for Pix transactional account providers

The Head of the Department of Competition and Financial Market Structure (Decem), using the powers conferred by Articles 23, item I, letter “a”, and 94, item IX, of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, and considering the provisions of Article 3º-A of Resolution BCB No. 1, of August 12, 2020,

RESOLVES:

Article 1. The verification of compliance with the minimum limits of paid-in capital and net worth referred to in Article 3º-A of Resolution BCB No. 1, of August 12, 2020, will be carried out based on the information contained in the following documents provided for in Instruction Normative BCB No. 195, of December 9, 2021, observing the methodology provided in Articles 3º and 3º-A of Joint Resolution No. 14, of November 3, 2025:

I - Analytical Balance Sheet – code 4010, in months when there is no semi-annual closing, considering the following accounts:

a) 6.1.1.00.00.00‑4 (Social capital), added to the balance of account 6.1.5.10.00.00-1 (Legal reserve), for the purpose of calculating paid-in capital; and

b) 6.0.0.00.00.00‑4 (Net worth), added to the balances of result accounts 7.0.0.00.00.00‑3 and 8.0.0.00.00.00‑2, considered with their respective accounting signs, and deducted from the balances of accounts 6.1.6.00.00.00‑9 (Asset valuation adjustments) and 6.1.4.00.00.00‑5 (Revaluation reserve), for the purpose of calculating net worth; and

II - Analytical Balance Sheet – code 4016, in the months of June and December, observing the same accounts referred to in letters “a” and “b” of item I of the main text.

Article 2. If a Pix participant presents, for paid-in capital or net worth, a balance lower than the minimum limit provided for in Article 3º-A of Resolution BCB No. 1, of 2020, or fails to send the documents referred to in Article 1 until the deadline established in Instruction Normative BCB No. 195, of 2021, Decem will send a communication to the participant, preferably through the Central Bank of Brazil’s Electronic Mail System – BC Correio, informing about the need to prove compliance with regulatory limits.

Sole Paragraph. The proof of compliance with the minimum limits will be carried out exclusively through the documents mentioned in Article 1, observing the deadlines and conditions established in Instruction Normative BCB No. 195, of 2021.

Article 3. The deadline for proving compliance with the minimum limits of paid-in capital and net worth, referred to in letter “b” of item I of § 1º of Article 31 of the Pix Regulations, annexed to Resolution BCB No. 1, of 2020, will correspond to the deadline for submitting the documents mentioned in Article 1, referring to the third month following the one in which the non-compliance with regulatory limits occurred.

Sole Paragraph. The failure to present the documents within the deadline referred to in the main text will be considered as non-observance of the minimum limits of paid-in capital and net worth provided for in Article 3º-A of Resolution BCB No. 1, of August 12, 2020.

Article 4. Decem may admit a different deadline from that provided for in Article 3, provided that:

I - the non-compliance results from an event of an operational, systemic, or extraordinary nature, duly justified by the participant; or

II - the participant demonstrates the temporary nature of the situation and the existence of objective conditions for the recomposition of regulatory limits.

Article 5. This Instruction Normative enters into force on the date of its publication.

RICARDO TEIXEIRA LEITE MOURÃO

NOTE

Decree No. 10.411, of June 30, 2020, provides for the obligation to carry out a regulatory impact analysis (RIA) for the issuance of normative acts of general interest produced by the organs and entities of the direct and indirect federal public administration.

However, in line with Vote 280/2021–BCB, of November 10, 2021, the Pix Regulations, as well as the documents that integrate, detail, or complement it, do not characterize as a regulatory act of coercive force, possessing an eminently contractual nature. Thus, modifications made to said regulations and to the other documents that integrate, detail, and complement it are not subject to the prior production of an RIA.

RICARDO TEIXEIRA LEITE MOURÃO