BCB Resolution No. 40 — Amends provisions of the Regulation annexed to Circular No. 4,027 of June 12, 2020, governing the Instant Payment System (SPI) and Instant Payment Account (Conta PI) at the Central Bank of Brazil

Resolution No. 40

BCB RESOLUTION NO. 40, OF NOVEMBER 13, 2020

Regulatory document revoked, as of April 1, 2022, by BCB Resolution No. 195, of March 3, 2022.

Amends provisions of the Regulation annexed to Circular No. 4,027, of June 12, 2020, which regulates the operation of the Instant Payment System (SPI) and the Instant Payment Account (Conta PI) at the Central Bank of Brazil, due to the changes introduced in the Regulation of the Pix payment arrangement, annexed to BCB Resolution No. 1, of August 12, 2020.

The Collegiate Board of the Central Bank of Brazil, in an extraordinary session held on November 13, 2020, based on art. 10, item IV, of Law No. 4,595, of December 31, 1964, art. 10 of Law No. 10,214, of March 27, 2001, arts. 7, 9, 10, 14 and 15 of Law No. 12,865, of October 9, 2013, arts. 9 and 11 of Resolution No. 2,882, of August 30, 2001, and Resolution No. 4,282, of November 4, 2013,

R E S O L V E:

Art. 1 The Regulation annexed to Circular No. 4,027, of June 12, 2020, shall enter into force with the following alterations:

“Art. 16. ......

I - issue and receive instant payments:

a) for the benefit of its clients or of clients of indirect participants for whom it acts as a clearing agent in the SPI;

b) for the benefit of bodies, funds or similar entities linked to public administration whose account or sub-account is operated by it;

c) relating to its own obligations and rights, provided that the other party to the transaction is not another payment institution or another financial institution; and

d) relating to the typical activities of the STN;

......”
(NR)

“Art. 17. ......

......

III - refuse, in the case provided for in art. 16, item I, subsection “a”, the receipt of an instant payment order, before its settlement, in cases where the beneficiary is not its client, has restrictions on receiving, or, in the case of return of an instant payment, the information is incompatible with the original instant payment object of the return;

......”
(NR)

Art. 2 This Resolution enters into force on the date of its publication.

Bruno Serra Fernandes
Monetary Policy Director