RESOLUTION BCB NO. 398, OF JULY 4, 2024

Amends Resolution BCB No. 32, of October 29, 2020, which establishes the technical requirements and operational procedures for the implementation of Open Finance in the country.

The Collegiate Board of the Central Bank of Brazil, in a session held on June 20, 2024, based on arts. 9 of Law No. 4.595, of December 31, 1964, 9, caput, item II, and 15 of Law No. 12.865, of October 9, 2013, and 51, caput, item I, of Joint Resolution No. 1, of May 4, 2020,

RESOLVES:

Art. 1 The summary of Resolution BCB No. 32, of October 29, 2020, published in the Official Gazette of the Union on November 3, 2020, shall be in effect with the following alterations:

"Establishes the technical requirements and operational procedures for the implementation of Open Finance in the Country." (NR)

Art. 2 Resolution BCB No. 32, of October 29, 2020, published in the Official Gazette of the Union on November 3, 2020, shall be in effect with the following alterations:

"Art. 1 This Resolution establishes the technical requirements and operational procedures for the implementation of Open Finance in the country to be observed by the participating institutions specified in art. 6 of Joint Resolution No. 1, of May 4, 2020.

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(NR)

"Art. 3 ....................................................................................................................

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III - Manual of Services Provided by the Open Finance Governance Structure;

IV - Open Finance Security Manual;

V - Open Finance Customer Experience Manual; and

VI - Open Finance Monitoring Manual.

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(NR)

"Art. 8 For monitoring purposes, participating institutions must make available administrative APIs dedicated exclusively to sharing with the directory referred to in art. 13." (NR)

"Art. 10. ....................................................................................................................

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III - the institution's adherence to the rights and obligations of the participant, as disclosed by the Open Finance Governance Structure, referred to in art. 44, § 1, of Joint Resolution No. 1, of May 4, 2020.

§ 1 The rights and obligations of the participant referred to in item III of the caput must encompass, among other aspects, issues related to privacy and data use, to the handling and resolution of disputes within the scope of Open Finance, as well as the contribution to the funding of the activities of maintaining the Open Finance Governance Structure.

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(NR)

"Art. 11. ....................................................................................................................

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§ 1 The provision in the caput is excepted for the voluntary exit of a participating institution referred to in art. 6, caput, item I, letter 'b', and item II, letter 'b', of Joint Resolution No. 1, of May 4, 2020, provided that the institution communicates its withdrawal from Open Finance:

I - to its clients who have active consent in Open Finance, at least thirty days before its effective implementation; and

II - to the participant directory referred to in art. 13, after fulfilling the period referred to in item I of § 1.

§ 2 The communication referred to in item II of § 1 must be kept available to the Central Bank of Brazil.

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§ 4 Institutions that are voluntary participants and do not have active client consents in Open Finance are exempt from the prior communication referred to in item I of § 1." (NR)

"CHAPTER VII

OF THE SERVICES PROVIDED BY THE GOVERNANCE STRUCTURE" (NR)

"Art. 12 The Manual of Services Provided by the Open Finance Governance Structure shall establish the technical requirements and operational procedures for the implementation of:

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(NR)

"Art. 13 The Open Finance Governance Structure in the country, referred to in art. 44, § 1, of Joint Resolution No. 1, of May 4, 2020, shall include a participant directory with the following responsibilities:

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(NR)

"Art. 14 The Open Finance Governance Structure referred to in art. 44, § 1, of Joint Resolution No. 1, of May 4, 2020, shall provide a free and available customer service channel, uninterrupted, for twenty-four hours a day and seven days a week, responsible for, at a minimum:

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(NR)

"Art. 15 The Open Finance Governance Structure referred to in art. 44, § 1, of Joint Resolution No. 1, of May 4, 2020, shall maintain an internet website to serve as the Open Finance portal in Brazil, which shall provide, in a single environment, updated information on its activities, interface standards, including versioning, and other information related to the implementation of Open Finance, organized in specific areas intended for the following audiences:

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(NR)

"Art. 15-A The Open Finance Governance Structure referred to in art. 44, § 1, of Joint Resolution No. 1, of May 4, 2020, shall maintain an API testing environment that allows participating institutions:

I - to submit functional and non-functional automated tests, even in the development stage, of their implementations of the applicable Open Finance and security APIs; and

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§ 1 For the purposes of the provision in item I of the caput, participating institutions must respect the policies, rules, and deadlines established by the Open Finance Governance Structure, when there is no contrary regulatory provision.

§ 2 The tests cited in item I of the caput must also be performed outside of certification periods due to API versioning, prior to each publication made in a production environment.

§ 3 Regarding the tests referred to in § 2, participating institutions are exempt from performing them when the compliance engine does not exist or is not available for execution." (NR)

"Art. 16-A. ................................................................................................................

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Sole Paragraph. .......................................................................................................

I - to cover the different possible use cases;

II - to be elaborated, reviewed, and periodically updated by the Open Finance Governance Structure referred to in art. 44, § 1, of Joint Resolution No. 1, of May 4, 2020; and

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(NR)

"Art. 16-D The Open Finance Governance Structure referred to in art. 44, § 1, of Joint Resolution No. 1, of May 4, 2020, must maintain a platform for resolving disputes between participants within the scope of Open Finance.

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(NR)

"CHAPTER VIII-C

OF MONITORING

Art. 16-E The Open Finance Monitoring Manual must contain:

I - the following items to be monitored by the Open Finance Governance Structure:

a) performance and availability of APIs;

b) specifications, registrations, certification, and publication of APIs;

c) handling of incident resolution demands;

d) reporting of information;

e) data quality; and

f) customer experience;

II - the monitoring process to be observed by the Open Finance Governance Structure and by participating institutions; and

III - the provisions regarding the transparency of information on the monitoring of Open Finance within the scope of the Open Finance Governance Structure and for the general public." (NR)

"Art. 17 The Open Finance Governance Structure referred to in art. 44, § 1, of Joint Resolution No. 1, of May 4, 2020, through its technical level, must maintain permanent discussion forums with experts and other stakeholders in the implementation of Open Finance in the country who are not represented in the technical groups constituted at this level." (NR)

"CHAPTER X

GENERAL PROVISIONS

Art. 17-A The Open Finance Governance Structure must report and account to participating institutions regarding the services provided and the monitoring referred to in Chapters VII and VIII-C of this Resolution." (NR)

Art. 3 The following provisions of Resolution BCB No. 32, of October 29, 2020, published in the Official Gazette of the Union on November 3, 2020, are revoked:

I - art. 1, sole paragraph;

II - Section VI of Chapter VII;

III - art. 15-B; and

IV - arts. 16-B and 16-C.

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

OTÁVIO RIBEIRO DAMASO

Regulation Director