Central Bank of Brazil Instruction Normative No. 596 of March 24, 2025

Instruction Normative BCB No. 596 amends Instruction Normative No. 374/2023 to update the procedures, documents, and information required for authorizing Financial Market Infrastructures (FMIs) within the Brazilian Payments System. The amendments introduce requirements for independent evaluations of regulatory compliance and operational fitness, specifically for systems handling financial asset centralization or registration, including those involving book-entry promissory notes. The rule also mandates additional documentation for cloud services provided abroad when no information exchange agreement exists between the Central Bank and foreign supervisory authorities. Furthermore, it grants the Central Bank the discretion to waive certain Phase 2 document submissions if sufficient evidence of compliance is already provided, aiming to streamline authorization processes and reduce regulatory costs.

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Resolution No. 222

INSTRUCTION NORMATIVE
BCB No. 596, OF MARCH 24, 2025

Amends
Instruction Normative No. 374, of April 26, 2023, which published the procedures, deadlines, documents, and information necessary for the processing of authorization requests related to the operation of Financial Market Infrastructures (FMIs) within the scope of the Brazilian Payments System (SPB), and the types of changes in FMIs and their regulations that represent relevant risk to their safety, efficiency, or solidity and normal operation of the SPB or the National Financial System (SFN).

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This document amends: Normative Instruction BCB No. 374 of April 26, 2023

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works