BCB Resolution No. 423 — Amending the Regulations of the Executive Management Committee and the Real Digital Platform Pilot Project

Resolution No. 423

RESOLUTION
BCB NO. 423, OF OCTOBER 10, 2024

Amends the Regulation of the Executive Management Committee – CEG of the Real Digital Platform Pilot Project – Piloto RD and the Regulation of the Piloto RD, Annexes I and II to BCB Resolution No. 315, of April 27, 2023.

The Collegiate Board of Directors of the Central Bank of Brazil, in a session held on October 2, 2024, based on art. 11, item V, letter “u”, of the Internal Regulations of the Central Bank of Brazil, annexed to BCB Resolution No. 340, of September 21, 2023, and having in view the provisions of Vote 167/2024–BCB, of October 2, 2024, Vote 66/2024–BCB, of May 15, 2024, Vote 73/2023–BCB, of April 26, 2023, and Vote 31/2023–BCB, of February 14, 2023,

R E S O L V E
:

Art. 1º The Regulation of the Executive Management Committee – CEG of the Real Digital Platform Pilot Project – Piloto RD, Annex I to BCB Resolution No. 315, of April 27, 2023, published in the Official Gazette of the Union on April 28, 2023, shall enter into force with the following alterations:

“Art. 6º .....................................................................................................................

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XIV - propose to Dirad, Dipom, and Dinor the submission to the Collegiate Board of Directors of a proposal to update the guidelines of the Piloto RD;

XV - convene the participants of the Piloto RD to present use case proposals, to be evaluated regarding their interest and compatibility with the work to be developed in this pilot project, considering their guidelines, in order to ensure the own implementation of smart contracts;

XVI - decide regarding the opening and closing dates of the deadline for receiving application proposals from entities interested in participating in the Piloto RD; and

XVII - publish on the website of the Central Bank of Brazil the decisions and other information of interest to the Piloto RD, such as alterations in the frameworks, phases, and schedule of work of this pilot project, as well as regarding the opening and closing of the deadline for receiving application proposals from entities interested in participating in the Piloto RD.” (NR)

Art. 2º The Regulation of the Real Digital Platform Pilot Project – Piloto RD, Annex II to BCB Resolution No. 315, of April 27, 2023, published in the Official Gazette of the Union on April 28, 2023, shall enter into force with the following alterations:

“Art. 5º The Executive Management Committee – CEG shall establish, considering the technical and operational capacity of the Central Bank of Brazil, the maximum number of participants in the Piloto RD, selected according to criteria and procedures provided for in this Regulation.

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(NR)

“Art. 10. The CEG shall publish, on the website of the Central Bank of Brazil, the periods for receiving application proposals from entities interested in participating in the Piloto RD.” (NR)

“Art. 11. ....................................................................................................................

I - the transactions of issuance, redemption, or transfer of the financial assets that intend to simulate in the Piloto RD, as well as the financial flows resulting from negotiation events, when applicable to the financial asset subject to the test, correlating the adequacy of these operations to its business model, or the adequacy of its business model to the proposed environment, observed the provisions of art. 16, § 4º;

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Sole Paragraph. With a view to clarifying the content of the application proposals, the CEG may, until the signing of the Participation Term contained in Annex III to this Resolution, promote diligence, request information, and conduct technical interviews with the representatives of the interested institutions, if it deems such measures necessary to form its conviction regarding the aptitude and level of technical capacity of the candidates.” (NR)

“Art. 12. In addition to the procedures and criteria established in art. 11, the diversity of the participating institutions regarding the following may also be considered for their selection:

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(NR)

“Art. 19. ....................................................................................................................

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§ 4º For effective participation in the Piloto RD, it will be necessary to have access to the Network of the National Financial System (RSFN).” (NR)

Art. 3º The following provisions of the Regulation of the Piloto RD, Annex II to BCB Resolution No. 315, of April 27, 2023, published in the Official Gazette of the Union on April 28, 2023, are hereby revoked:

I - art. 5º, § 1º; and

II - art. 11, §§ 1º, 2º, and 3º.

Art. 4º This Resolution enters into force on the date of its publication.

GABRIEL MURICCA GALÍPOLO RODRIGO ALVES TEIXEIRA Director of Monetary Policy Director of Administration

AILTON DE AQUINO SANTOS CAROLINA DE ASSIS BARROS Substitute Director of Regulation Director of Relationships, Citizenship and Conduct Supervision