BCB Normative Instruction No. 585

BCB NORMATIVE INSTRUCTION No. 585, OF 29 JANUARY 2025

Normative document revoked by BCB Normative Instruction No. 714, of 3/4/2026.

Discloses procedures and document templates necessary for the instruction of authorization requests related to payment arrangements belonging to the Brazilian Payment System (SPB).

The Deputy Head of the Department of Competition and Financial Market Structure (Decem), in the exercise of the attribution conferred by art. 23, item I, subitem "a", and 95, item I, subitem "a", of the Internal Regulations of the Central Bank of Brazil, annexed to BCB Resolution No. 340, of 21 September 2023, based on art. 6 of BCB Resolution No. 150, of 6 October 2021,

R E S O L V E S :

Art. 1 The following document templates necessary for the instruction of authorization requests related to payment arrangements belonging to the Brazilian Payment System (SPB) are disclosed:

• I - authorization request for the establishment of a payment arrangement, in the form of the template proposed in Annex I;

• II - prior authorization request for changes in the documents and information required in the authorization request, in the form of the template presented in Annex II;

• III – authorization cancellation request, resulting from the termination of activities, in the form of the template presented in Annex III;

• IV – authorization cancellation request, due to a drop in volume, in the form of the template presented in Annex IV.

• V – declaration by the establisher of the arrangement of compliance with the requirements demanded by the regulation, in the form of the template presented in Annex V.

Art. 2 Changes in the documents and information required in the authorization request that do not depend on prior authorization must be communicated in the form of the template presented in Annex VI.

Art. 3 The authorization requests referred to in this Normative Instruction must be filed with the Central Bank of Brazil, directed to the Department of Competition and Financial Market Structure (Decem), accompanied by the pertinent documents and information.

Art. 4 In compliance with the provisions of § 6 of art. 16 of Annex I to BCB Resolution No. 150, of 2021, the establisher of the payment arrangement (IAP) must keep the Central Bank of Brazil updated on any change in the responsible directors referred to in item III of the caput of the aforementioned article, providing the name, CPF, email and telephone number of each director, accompanied by a copy of the articles of association or social contract that proves their appointment.

Art. 5 We clarify that the information and documents referred to in arts. 1 to 4 must be sent through the Central Bank's Digital Protocol system, available on this Autarchy's website on the internet. The applicant must select as the origin of the demand "Regulated Entity"; in the "Subject" field select "Processes of Surveillance and Authorizations of Payment Arrangements" and in the "Destination or Subsubject" field, select "Authorizations related to Payment Arrangements".

Art. 6 BCB Normative Instruction No. 181, of 28 October 2021, is revoked.

Art. 7 This Normative Instruction enters into force on 29 January 2025.

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ANNEX I - AUTHORIZATION REQUEST FOR THE ESTABLISHMENT OF A PAYMENT ARRANGEMENT

1. IDENTIFICATION (mandatory fields)

Corporate name:

CNPJ:

Trade name:

Full address:

Website (if any):

Municipalities and States of any branches:

Person responsible for conducting the request: provide name, CPF, telephone and email.

2. FORMALIZATION OF THE REQUEST

The establisher of the payment arrangement (IAP) qualified above, in accordance with the provisions of art. 16 of Annex I to BCB Resolution No. 150, of 6 October 2021, hereby REQUESTS from the Central Bank of Brazil, Department of Competition and Financial Market Structure (Decem), authorization for the establishment of the following payment arrangement(s):

(Note: fill in the declaration below for each arrangement)

I – Identification of the arrangement:

II – Volume of the arrangement, as determined by item II of art. 2 of BCB Resolution No. 150, of 2021:

Month/Year

Total value of transactions (R$)

Number of transactions

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Month 7

Month 8

Month 9

Month 10

Month 11

Month 12

12-month accumulated

III – Date on which any of the above volumes (total value of transactions or number of transactions) exceeded any of the limits established in item II of art. 2 of BCB Resolution No. 150, of 2021: MM/YYYY.

Filling guidelines:

• I. Consider exclusively the payment transactions that are authorized and settled by a participant that provides payment services disciplined by the arrangement and in accordance with the rules of the arrangement, and between end users, payers and receivers, of the arrangement.

• II. Do not consider amounts whose deposit or withdrawal was made through another arrangement (examples of which are TED, DOC, PIX, boleto and payment card arrangements), even if as a result of an interoperability relationship.

• III. The volumes of services provided through a payment instrument issued by a business company intended for the acquisition of goods or services offered by it should not be included (§ 3, art. 6, of Law No. 12,865, of 9 October 2013).

• IV. Do not consider payment transactions disciplined by payment arrangements in which the payment instrument is offered within the scope of a program intended to grant benefits to natural persons due to employment relationships, provision of services or similar, established by law or by act of the federal, state or municipal Executive Branch (item III, art. 2, of BCB Resolution No. 150, of 2021).

3. INSTRUCTION OF THE PROCESS

3.1 The documents indicated below are attached, in accordance with the provisions of art. 16 of Annex I to BCB Resolution No. 150, of 2021:

• the description of the main characteristics of the business, containing, at a minimum, the indication of the payment services to be provided within the scope of the arrangement (using as reference the services listed in items “a” to “h” of clause III of art. 6 of Law No. 12,865, of 9 October 2013), target audience, purpose of the arrangement, type of relationship of end users with the participating institution and territorial scope (in accordance with the modalities provided for in arts. 8, 9 and 10 of Annex I to BCB Resolution No. 150, of 2021), whether the arrangement is closed or open (in accordance with the definitions provided for in art. 2 of Annex I to BCB Resolution No. 150, of 2021), location of the head office and any branches;

• the identification of the members of the controlling group of the institutor;

• the identification of the directors responsible for responding to the demands of the Central Bank of Brazil related to issues concerning the arrangement and of the directors responsible for the areas that perform the activities listed in clauses I to III of art. 31 of Annex I to BCB Resolution No. 150, of 2021, providing name, CPF, e-mail and telephone of each director, accompanied by a copy of the articles of association or social contract that proves their appointment;

• the regulation, compiled in a single document, containing exclusively the operating rules of each arrangement, as set out in art. 19 of Annex I to BCB Resolution No. 150, of 2021;

• the models of contracts or terms of participation of the different modalities of participation in the arrangement, where applicable;

• the declaration signed by the institutor of the arrangement attesting that it complies with the provisions of clause I of the sole paragraph of art. 3 of Annex I to BCB Resolution No. 150, of 2021, in the form of the model presented in Annex V.

3.2 The IAP, in compliance with the provisions of §4 of art. 16 of Annex I to BCB Resolution No. 150, of 2021, LISTS below, EXHAUSTIVELY, the other documents and information that govern the operation of the arrangement:

• i. xxxxxx;

• ii. xxxxxx;

• iii. .....

3.3 The IAP, for the purpose of complying with the provisions of §5 of art. 16 of Annex I to BCB Resolution No. 150, of 6 October 2021, DECLARES to the Central Bank of Brazil the prevalence of the provisions of the regulation of the payment arrangement referred to in clause IV of the caput of art. 16 over any other documents or information that govern the operation of the arrangement and the nullity of any condition that conflicts with the provisions of said regulation.

3.4. The IAP, for the purpose of complying with the provisions of the caput of art. 27 of Annex I to BCB Resolution No. 150, of 2021, DECLARES that it maintains an electronic system for participants to send, at any time, proposals, suggestions and manifestations regarding topics that impact their operations and business model and for the recording of participants' manifestations and the respective responses of the institutor and that the electronic system remains open to participants, through registration and individual access. (only for open arrangements)

3.5 – The IAP, for the purpose of complying with the provisions of clause II of art. 33 of Annex I to BCB Resolution No. 150, of 2021, DECLARES that the risk management routines and procedures were previously approved by the governing bodies of the institutor in accordance with its established policies and strategies.

3.6 – The IAP, for the purpose of complying with the provisions of clause IV of art. 33 of Annex I to BCB Resolution No. 150, of 2021, DECLARES that the continuous risk management structure provides for systems dedicated to the execution of the routines and procedures for risk management throughout the payment flow of the arrangement.

3.7 – The IAP, for the purpose of complying with the provisions of §3 of art. 33 of Annex I to BCB Resolution No. 150, of 2021, DECLARES that it provides for a business continuity and disaster recovery plan for its operations in each arrangement and for the operations of the respective participants.

4. OTHER INFORMATION/REMARKS:

5. SIGNATURES

(Place and date)
(Full name, CPF and position) (Full name, CPF and position)

(Note: the application must be digitally signed by the director responsible for responding to the demands of the Central Bank of Brazil related to issues concerning the arrangement, duly identified in accordance with the terms of clause III of the caput of art. 16 of Annex I to BCB Resolution No. 150, of 2021)

ANNEX II - APPLICATION FOR PRIOR AUTHORIZATION FOR CHANGES IN THE DOCUMENTS AND INFORMATION REQUIRED IN THE AUTHORIZATION APPLICATION

1. IDENTIFICATION

Corporate name:

CNPJ:

Full address:

Person responsible for conducting the application: provide name, CPF, telephone and e-mail.

2. FORMALIZATION OF THE APPLICATION

The payment arrangement institutor (IAP) qualified above, in accordance with the provisions of art. 20 of Annex I to BCB Resolution No. 150, of 6 October 2021, hereby REQUESTS from the Central Bank of Brazil, Department of Competition and Financial Market Structure (Decem), authorization to change documents and information required in the authorization application of the payment arrangement classified as ... (the purpose of the arrangement, the modality of relationship of end users with the participating institution, the territorial scope of the arrangement), referred to in arts. 16 and 19 of the aforementioned Regulation, which require prior authorization from this Authority.

3. LEGAL BASIS (select one or more options below)

3.1. Select the clause(s) / item(s) applicable to the change(s):

Related aspects:

• I - to the provision of new modalities of participation, the exclusion of existing modalities and changes in the duties and responsibilities of each modality;

• II - to the criteria and requirements for admission, permanence, suspension and exclusion of participants;

• III - to the conditions related to the participation requirements, responsibilities of the participant itself or attributed to it as a result of its relationship with contracted third parties;

• IV - changes to rights or duties that have the potential to increase costs or risks for participants or, furthermore, to limit their operation within the scope of the arrangement;

• V - criteria or conditions for the outsourcing of activities that have the potential to limit competition in the provision of payment services by different participants of the arrangement;

• VI - rules governing the governance of decision-making processes within the scope of the arrangement, such as dispute resolutions, arbitration process, penalties and criteria for authorization and rejection of transactions;

• VII - mechanisms for managing financial and operational risks incurred by participants;

• VIII - settlement periods for transactions between participants and for making funds available to the recipient;

• IX - changes in the pricing structure, fees and other forms of remuneration defined within the scope of the arrangement, charged by the arrangement's institutor to its participants or owed between participants of the arrangement, when referring to (Note: This includes the creation and extinction of fees, changes in the definition of the paying participant or the receiving participant, changes in the triggering event that gives rise to the fee or changes in processes that directly impact the flow of fee payments between participants):

  • a) payment transactions and processes related to their flow;

  • b) payment instruments issued;

  • c) sharing of technological infrastructure between participants of the arrangement;

  • d) homologation processes and access to the institutor's systems necessary for the provision of the payment service addressed by the arrangement;

  • e) the dispute resolution process between participants, including the fund return procedure;

  • f) use of the brand; and

  • g) provision of information intended for determining the positions of participants for the purpose of settling transactions or reconciling data.

• X - criteria and rules governing interoperability between participants of the arrangement or between payment arrangements that affect participants of the arrangement; and

• XI - provision of registration and transactional information of users by a participant to the institutor or to another participant.

4. INSTRUCTION OF THE PROCESS

4.1. Attach, in accordance with the provisions of § 3 of art. 20 and art. 28 of Annex I to BCB Resolution No. 150, of 2021, the following documents:

• Document containing the summary of the changes made;

• Copy of the communications sent to all participants of the arrangement of all participation modalities established in the arrangement's regulation;

• Arrangement regulation, compiled in a single document, highlighting the changes in relation to the current version; and

• Executive summary in accordance with art. 28 of Annex I to BCB Resolution No. 150, of 2021.

• Electronic address where the current version of the arrangement regulation referred to in item IV of art. 16 of Annex I to BCB Resolution No. 150, of 2021, is available, evidencing version control and change history.

• Electronic address where the document contemplating the changes submitted for authorization by the Central Bank of Brazil and still pending decision by this Autarchy is available, with an indication of the part of the regulation in which they are inserted.

As established by art. 11 of Annex I to BCB Resolution No. 150, of 2021, participants are all entities that perform activities provided for in the participation modalities expressly established in the arrangement's regulation, which also includes subacquirers, domicile institutions and network service providers and, therefore, all obligations contained in § 3 of art. 20 and in art. 28 of Annex I to BCB Resolution No. 150, of 2021, apply to all participants of the arrangement of all participation modalities.

For the definition of size referred to in item II of art. 28 of Annex I to BCB Resolution No. 150, of 2021, it is recommended to consider as large participants those that, individually, are responsible for more than 10% (ten percent) of the arrangement's transactions in their participation modality, and the other participants should be considered as small. If there is no participant that processes more than 10% (ten percent) of the transactions in any modality of the arrangement, the 3 (three) participants of that modality that process the most transactions must be classified as large.

4.2. The IAP for the purpose of complying with the provisions of the caput of art. 27 of Annex I to BCB Resolution No. 150, of 2021, DECLARES that it maintains an electronic system for all participants of the arrangement of all participation modalities established in the arrangement's regulation, (as defined in art. 11 of Annex I to BCB Resolution No. 150, of 2021) to send, at any time, proposals, suggestions and manifestations regarding topics that impact their operation and business model and for the recording of participants' manifestations and the respective responses of the institutor and that such electronic system remains open to participants, through registration and individual access. (only for open arrangements)

4.3. The IAP for the purpose of complying with the provisions of the caput of art. 28 of Annex I to BCB Resolution No. 150, of 2021, DECLARES that:

• It complied with the minimum consultation period for all participants of the arrangement of all participation modalities established in the arrangement's regulation, (as defined in art. 11 of Annex I to BCB Resolution No. 150, of 2021), not less than 21 (twenty-one) days; or

• It did not comply with the minimum prior consultation period for participants due to urgency (in this case, present the justification informed to the participants of the arrangement).

4.4 – The IAP, for the purpose of complying with the provisions of item II of art. 33 of Annex I to BCB Resolution No. 150, of 2021, DECLARES that the risk management routines and procedures were previously approved by the governing bodies of the institution in accordance with its established policies and strategies. (fill in only if the change(s) refer(s) to the risk management structure)

4.5 – The IAP, for the purpose of complying with the provisions of item IV of art. 33 of Annex I to BCB Resolution No. 150, of 2021, DECLARES that the continuous risk management structure provides for systems dedicated to the execution of the routines and procedures for risk management throughout the payment flow of the arrangement. (fill in only if the change(s) refer(s) to the risk management structure)

4.6 – The IAP, for the purpose of complying with the provisions of §3 of art. 33 of Annex I to BCB Resolution No. 150, of 2021, DECLARES that it provides for a business continuity and disaster recovery plan for its operations in each arrangement and for the operations of the respective participants.

5. SIGNATURES:

(Place and date)
(Full name, CPF and position) (Full name, CPF and position)

(Note: the application must be digitally signed by a director responsible for meeting the demands of the Central Bank of Brazil related to issues concerning the arrangement, duly identified in accordance with item III of the caput of art. 16 of Annex I to BCB Resolution No. 150, of 2021)

ANNEX III - APPLICATION FOR CANCELLATION OF AUTHORIZATION RESULTING FROM THE CLOSURE OF ACTIVITIES

1. IDENTIFICATION

Corporate name:

CNPJ:

Full address:

Person responsible for conducting the request: provide name, CPF, telephone and email.

2. FORMALIZATION OF THE REQUEST

The payment arrangement institution (IAP) qualified above requests the Central Bank of Brazil, Department of Competition and Financial Market Structure (Decem), to cancel the authorization for the establishment of the payment arrangement(s) classified as ... (the purpose of the arrangement, the modality of relationship of end users with the participating institution, the territorial scope of the arrangement), based on art. 22 of Annex I to BCB Resolution 150, of 2021.

3. INSTRUCTION OF THE PROCESS

Attaches an orderly exit plan, which includes the following aspects:

• I - the expected deadline for the closure of activities; and

• II - the mechanisms to be adopted to mitigate possible risks to the normal functioning of retail payment transactions, where applicable, especially regarding:

  • a) the form and deadline for settlement of pending transactions; and

  • b) the form and deadline for the withdrawal of funds stored in payment accounts.

4. SIGNATURES:

(Place and date)
Full name, CPF and position) (Full name, CPF and position)

(Note: the application must be digitally signed by a director responsible for meeting the demands of the Central Bank of Brazil related to issues concerning the arrangement, duly identified in accordance with item III of the caput of art. 16 of Annex I to BCB Resolution No. 150, of 2021)

ANNEX IV - APPLICATION FOR CANCELLATION OF AUTHORIZATION DUE TO DROP IN VOLUME

1. IDENTIFICATION

Corporate name:

CNPJ:

Full address:

Person responsible for conducting the request: provide name, CPF, telephone and email.

2. FORMALIZATION OF THE REQUEST

The payment arrangement institution (IAP) qualified above requests the Central Bank of Brazil, Department of Competition and Financial Market Structure (Decem), to cancel the authorization for the establishment of the payment arrangement(s) classified as ... (the purpose of the arrangement, the modality of relationship of end users with the participating institution, the territorial scope of the arrangement), based on art. 23 of Annex I to BCB Resolution 150, of 2021.

3. INSTRUCTION OF THE PROCESS

Declares the updated volume of the arrangement(s) as follows:

(Note: fill in the declaration below for each arrangement)

I – Identification of the arrangement:____________________________

II – Volume of the arrangement, as determined by item II of art. 2 of BCB Resolution No. 150, of 2021:

Month/Year

Total value of transactions (R$)

Number of transactions

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Month 7

Month 8

Month 9

Month 10

Month 11

Month 12

12-month accumulated

III – Date on which the two volumes above (total value of transactions or number of transactions) fell below the limits established in item II of art. 2 of BCB Resolution No. 150, of 2021: MM/YYYY and MM/YYYY.

Filling guidelines:

• a) Consider exclusively payment transactions that are authorized and settled by a participant that provides payment services governed by the arrangement and in accordance with the rules of the arrangement, and between end users, payers and receivers, of the arrangement.

• b) Do not consider amounts whose deposit or withdrawal was made through another arrangement (examples of which are TED, DOC, PIX, boleto and payment card arrangements), even if as a result of an interoperability relationship.

• c) The volumes of services provided through a payment instrument issued by a business company intended for the acquisition of goods or services offered by it should not be included (§ 3, art. 6, of Law No. 12.865, of 9 October 2013).

• d) Do not consider payment transactions governed by payment arrangements in which the payment instrument is offered within the scope of a program intended to grant benefits to natural persons due to employment relationships, provision of services or similar, established by law or by act of the federal, state or municipal Executive Branch (item III, art. 2, of BCB Resolution No. 150, of 2021).

4. SIGNATURES:

(Place and date)
(Full name, CPF and position) (Full name, CPF and position)

(Note: the application must be digitally signed by the director responsible for meeting the demands of the Central Bank of Brazil related to issues concerning the arrangement, duly identified under the terms of item III of the caput of art. 16 of Annex I to BCB Resolution No. 150, of 2021)

ANNEX V - DECLARATION OF COMPLIANCE WITH THE REQUIREMENTS DEMANDED BY THE REGULATION

The ... (name of the payment arrangement institutor), CNPJ ..., represented by the director responsible for the arrangement identified below and for the purposes of complying with the provisions of the sole paragraph of art. 3 of Annex I to BCB Resolution No. 150, of 2021, DECLARES to the Central Bank of Brazil that:

• I - it has technical-operational, organizational, administrative and financial capabilities to fulfill the obligations imposed on it in Annex I to BCB Resolution No. 150, of 2021, and other norms to which it is subject, and its duties within the scope of the arrangement it institutes;

• II - it has established effective and transparent governance mechanisms in order to contemplate, including, the interests of participants and end users;

• III - it has defined policies and strategies aimed at ensuring the normal functioning of the payment arrangement, including with respect to the duties of the arrangement's participants and of the institutor itself and its respective outsourced agents; and

• IV - it has implemented risk management and monitoring and auditing structures for the arrangement's participants.

(Place and date)
(Full name, CPF and position)

(Note: the declaration must be digitally signed by the director responsible for meeting the demands of the Central Bank of Brazil related to issues concerning the arrangement, duly identified under the terms of item III of the caput of art. 16 of Annex I to BCB Resolution No. 150, of 2021)

ANNEX VI - COMMUNICATION OF CHANGES IN THE DOCUMENTS AND INFORMATION REQUIRED IN THE AUTHORIZATION APPLICATION THAT DO NOT DEPEND ON PRIOR AUTHORIZATION.

1. IDENTIFICATION

Corporate name:

CNPJ:

Full address:

Person responsible for conducting the request: provide name, CPF, telephone and email.

2. FORMALIZATION OF THE REQUEST

The payment arrangement institutor (IAP) qualified above, in accordance with the provisions of §§ 2 and 3 of art. 20 of Annex I to BCB Resolution No. 150, of 6 October 2021, hereby COMMUNICATES to the Central Bank of Brazil, Department of Competition and Structure of the Financial Market (Decem), changes in the documents and information required in the authorization application of the payment arrangement classified as ... (the purpose of the arrangement, the modality of relationship of end users with the participating institution, the territorial scope of the arrangement), referred to in arts. 16 and 19 of the aforementioned Regulation, which do NOT require prior authorization from this Autarchy.

3. INSTRUCTION OF THE PROCESS

3.1. In accordance with the provisions of § 3 of art. 20 of Annex I to BCB Resolution No. 150, of 2021, attaches the following documents:

• Document containing the summary of the changes made;

• Copy of the communications sent to the arrangement's participants; and

• Arrangement regulation, compiled in a single document, highlighting the changes in relation to the current version.

3.2. Declares, in accordance with the provisions of the caput of art. 27 of Annex I to BCB Resolution No. 150, of 2021, that the institutor maintains an electronic system for participants to send, at any time, proposals, suggestions and manifestations regarding topics that impact their performance and business model and for the recording of participants' manifestations and the respective responses of the institutor and that the electronic system remains open to participants, through registration and individual access. (only for open arrangements)

3.3. Declares, in accordance with the provisions of § 1 of art. 28 of Annex I to BCB Resolution No. 150, of 2021, that:

• The changes subject of this communication do not refer to the aspects listed in items I to XI of art. 20 of Annex I to BCB Resolution No. 150, of 2021, which must be submitted to prior authorization from the Central Bank of Brazil;

• It complied with the minimum period of prior consultation with participants, not less than 15 (fifteen) days from the entry into force of the change(s); or

• It did not comply with the minimum period of prior consultation with participants due to urgency (in this case, present the justification informed to the arrangement's participants).

3.4. Date of entry into force of the change(s) referred to in this communication: dd.mm.yyyy.

3.5 – the IAP, for the purposes of complying with the provisions of item II of art. 33 of Annex I to BCB Resolution No. 150, of 2021, DECLARES that the risk management routines and procedures were previously approved by the institutor's governing bodies in accordance with its established policies and strategies. (fill in only if the change(s) refer(s) to the risk management structure)

4. SIGNATURES:

(Place and date)
(Full name, CPF and position) (Full name, CPF and position)

(Note: the communication must be digitally signed by the director responsible for meeting the demands of the Central Bank of Brazil related to issues concerning the arrangement, duly identified under the terms of item III of the caput of art. 16 of Annex I to BCB Resolution No. 150, of 2021)

NOTE

Decree No. 10.411, of 30 June 2020, provides for the mandatory conduct of regulatory impact analysis (RIA) for the issuance of normative acts of general interest produced by the bodies and entities of the direct and indirect federal public administration.

However, according to art. 4, item II, of the Decree, the RIA may be waived, provided there is a reasoned decision by the competent body or entity, in the cases of a normative act intended to regulate rights or obligations defined in a hierarchically superior norm that does not allow, technically or legally, different regulatory alternatives.

In this sense, it is understood that this normative instruction meets the aforementioned criteria, since the normative act now proposed is intended to clarify the manner of complying with obligations defined in the regulations in force.

RICARDO PEREIRA DE ARAÚJO