Circular Letter No. 4038

The Head of the Department of Financial System Organization (Deorf), using the authority granted by Article 23, item I, clause “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 84,287, of February 27, 2015,

CONSIDERING the provisions of Article 4, sole paragraph, of Decree No. 10,139, of November 28, 2019; and

CONSIDERING the need to adopt urgent measures to ensure the adequate preparation and swift conduct of authorization processes under this Unit's analysis, in the context of the current pandemic, especially given the temporary impossibility of receiving and sending documents and information in physical form,

RESOLVES:

Art. 1º For the purposes of preparing requests for authorizations whose technical analysis is carried out by the Department of Financial System Organization (Deorf), in accordance with the Internal Regulations of the Central Bank of Brazil, financial institutions, other institutions authorized to operate by it, and institutions part of the Brazilian Payments System (SPB) must send the necessary documents and information through the Central Bank's Digital Protocol (Digital Protocol).

Procedures for Process Preparation via Digital Protocol

Art. 2º In the preparation of the requests referred to in Art. 1º, the interested party must:

I - access the Digital Protocol through an institutional user account;

II - adopt the following procedures on the screen of the system referred to in item I:

a) fill in the “Description” field, using the following components, in the format “xx.xxx.xxx - Institution - subject”, where the component:

1. “xx.xxx.xxx” must correspond to the registration number (first eight digits) of the institution in the National Registry of Legal Entities (CNPJ);

2. “Institution” must correspond to the corporate name of the institution presenting the request; and

3. “subject” must correspond to the type of authorization request presented, as specified in Annex I to this Circular Letter;

b) select “Authorizations and Licensing for Supervised Institutions and SPB Members” in the “Select a subject” field; and

c) select, in the “Destination” field, the Deorf organizational component to which the request must be presented, according to the list contained in Annex II to this Circular Letter; and

III - send a single file in PDF/A format, encompassing all documents provided for in the specific regulation.

§ 1º The documents must be inserted into the file referred to in item III of the caput, preferably, in the order in which they are presented in the list of documents and information necessary for process preparation, contained in the regulation related to the type of authorization request to be presented, observing the provisions of §§ 4º and 5º, when applicable.

§ 2º In the case of presenting a request regarding the requests referred to in items I, II, or III of Annex I to this Circular Letter:

I - access to the Digital Protocol must be carried out through a natural person user account (citizen profile); and

II - the “Description” field must be filled in using the following components, in the format “xxx.xxx.xxx-xx - Applicant - subject”, where the component:

a) “xxx.xxx.xxx-xx” must correspond to the complete registration number of the representative of the applicant in the Individual Taxpayer Registry (CPF);

b) “Applicant” must correspond to the intended corporate name of the institution or SPB member presenting the request; and

c) “subject” must correspond to the type of authorization request presented.

§ 3º The sending of the file, in the case of § 2º, must also observe the provisions of items II, clauses “b” and “c”, and III of the caput, and §§ 1º, 4º, and 5º, when applicable, regarding the partitioning referred to in these two last devices.

§ 4º In the event that the file with the documents for the preparation of the requests exceeds the maximum size allowed by the system, the file must be partitioned, in which case the “Description” field must be filled in using the format “xx.xxx.xxx - Institution - subject - Part 1”, “xx.xxx.xxx - Institution - subject - Part 2”, and so on successively.

§ 5º In the case provided for in the previous paragraph, all subsequent files must be associated with the first file registered, being the file:

I - “xx.xxx.xxx - Institution - subject - Part 1”, for the requests referred to in the caput;

II - “xxx.xxx.xxx-xx - Applicant - subject - Part 1”, for the requests referred to in § 2º; and

III - “Applicant – subject – Part 1”, for the presentation of documents referred to in Art. 4º.

Procedures for Sending Requests for Information, Formalization of Requirements, Decisions, and General Communications

Art. 3º The request for information, the formalization of requirements, the communication of the decision, and the other communications related to the preparation and examination of authorization processes conducted by Deorf must be carried out via official letter sent:

I - to the requesting institution, by message from the Central Bank's Electronic Mail System (BC Correio), in the case of processes where the holder of the request is an institution authorized to operate by the Central Bank of Brazil; and

II - to the electronic address (e-mail) of the following natural persons, indicating the link by which it must be accessed on the Digital Protocol page, when it concerns requests for information and formalization of requirements:

a) the representative of the applicant, the prospective controller(s), the prospective holder(s) of qualified participation, the elected or appointed members of statutory or contractual bodies, or other natural persons, in the case of an institution requesting authorization for constitution and operation or for operation; and

b) the persons referred to in clause “a”, the controller(s), the holder(s) of qualified participation, the elected or appointed members of statutory or contractual bodies, the member(s) of statutory or contractual bodies, or other natural persons, in the case of an institution authorized to operate by the Central Bank of Brazil.

§ 1º Communications to authorized institutions that do not have access to BC Correio will be carried out in the manner mentioned in item II, clause “b”, of the caput.

§ 2º The sending of the link referred to in item II of the caput will only be carried out to the e-mail of natural persons who have informed their data in the Registrato System - Central Bank Information Registry Extract registration.

Art. 4º The presentation of a response to requests for information and formalization of requirements referred to in this Circular Letter must be carried out through the Digital Protocol, observing the following procedures:

I - access to the Digital Protocol must be carried out through an institutional user account or a natural person user account (citizen profile), as appropriate;

II - the “Description” field must be filled in using the following components, in the format “Applicant - subject”, where the component:

a) “Applicant” must correspond to the name:

1 - corporate name of the authorized institution holding the request; or

2 - intended by the institution or SPB member holding, in the case of an authorization request for constitution and operation; and

b) “subject” must correspond to the subject contained in the correspondence sent by Deorf; and

III - the “Electronic Administrative Process Number - PE” field must be filled in using the information about this number, contained in the official letter sent.

§ 1º The sending of the file with the responses to the communications referred to in the caput and the documents that serve as support for them must also observe the provisions of Art. 2º, items II, clauses “b” and “c”, and III of the caput, and §§ 4º and 5º, when applicable, regarding the partitioning referred to in these two last devices.

§ 2º The documents that serve as support for the responses to the communications referred to in the caput must be inserted into the file sent, preferably, in the order in which they are presented in the list of information and requirements contained in the official letter sent.

Art. 5º The communication regarding decisions related to authorization processes conducted by Deorf must be carried out via official letter, digitally signed by a competent server, which:

I - will have as an attachment the approved bylaws or social contract, in the event that a bylaws reform or contractual alteration has been deliberated;

II - will contain the list of elected or appointed persons whose names have been approved to hold positions in statutory or contractual bodies, in the case of requests related to the election or appointment of these persons; and

III - will refer to the other information that may be necessary for the registration of the corporate act in the Commercial Boards.

Sole Paragraph. There will be no return of authenticated corporate acts to the requesting institutions.

Art. 6º The filing of an appeal against the decision referred to in Art. 5º must be carried out through the Digital Protocol, observing the following procedures:

I - access to the Digital Protocol must be carried out in the manner of item I of the caput of Art. 4º;

II - the “Description” field must be filled in using the following components, in the format “Appellant - appeal”, where the component:

a) “Appellant” must correspond to the name:

1 - corporate name of the authorized institution holding the request; or

2 - intended by the institution or SPB member holding, in the case of an authorization request for constitution and operation; and

b) “appeal” must correspond to the subject regarding which the appeal is being presented; and

III - the “Electronic Administrative Process Number - PE” field must be filled in using the information about this number, contained in the official letter that sent the decision subject to the appeal.

§ 1º The sending of the file with the appeal referred to in the caput and the documents that serve as support for it must also observe the provisions of Art. 2º, items II, clauses “b” and “c”, and III of the caput, and §§ 4º and 5º, when applicable, regarding the partitioning referred to in these two last devices.

§ 2º The documents that serve as support for the appeal referred to in the caput must be inserted into the file sent, preferably, in the order in which they are presented in the text of the appeal.

Art. 7º The following are repealed:

I - Communication No. 28,063, of June 24, 2015; and

II - Communication No. 35,448, of April 1, 2020.

Art. 8º Circular Letter No. 4,017, of March 20, 2020, is revoked.

Art. 9º This Circular Letter enters into force on the date of its publication.

José Reynaldo de Almeida Furlani

ANNEX I

List of requests whose technical analysis has been assigned to the Department of Financial System Organization (Deorf), in accordance with the Internal Regulations of the Central Bank of Brazil

I – authorization for operation, in the case of direct credit societies, peer-to-peer lending societies, microentrepreneur and small business credit societies, and payment arrangements, settlement systems, including in the form of centralized deposit, clearinghouses, and compensation and settlement service providers, and asset registry systems, within the SPB;

II – authorization for constitution and operation, in the case of other financial institutions and other institutions authorized to operate by the Central Bank of Brazil;

III – authorization for operation, in the case of payment institutions;

IV – authorization for changes to regulations related to the aspects indicated in Article 22 of the Regulation annexed to Circular Letter No. 3,057, of August 31, 2001, or in paragraph 3 of Article 3 of the Regulation annexed to Circular Letter No. 3,743, of January 8, 2015, in the case of systems part of the SPB;

V – authorization for payment arrangements part of the SPB authorized to operate by the Central Bank of Brazil, for changes to documents and information required in the request for authorization for operation, when they refer to the aspects related in items I to VI and sole paragraph of Art. 18 of the Regulation annexed to Circular Letter No. 3,682, of November 4, 2013;

VI – authorization, in the case of financial institutions and other institutions authorized to operate by the Central Bank of Brazil, of the following subjects:

a) change of share capital;

b) transfer of corporate headquarters to another municipality;

c) change of corporate object to another type of institution part of the national financial system;

d) creation or cancellation of multiple bank operational portfolio;

e) change of credit cooperative category;

f) practice of foreign exchange, rural credit, or leasing operations;

g) provision of payment services;

h) change of corporate name;

i) change of bylaws or social contracts;

j) transfer or any other type of change in corporate control of the institution, directly or indirectly;

k) entry of shareholder or partner with qualified participation, assumption of the condition of shareholder or partner holding qualified participation, and expansion of qualified participation;

l) merger, incorporation, spin-off, or demerger, including of a financial institution or similar subsidiary or object of corporate participation, directly or indirectly, abroad;

m) corporate transformation;

n) installation of agencies in the country and branches abroad;

o) allocation of resources for branches abroad;

p) constitution of subsidiary abroad;

q) participation in other companies directly or indirectly, in the country and abroad, for subscription of capital increase and for increasing the relative position in capital;

r) operation, change of internal regulations, and cancellation of authorization for operation of branches, in the Country, of financial institutions headquartered abroad;

s) representation, in the Country, of financial institutions or similar headquartered abroad, as well as the cancellation of this authorization, the accreditation and de-accreditation of representatives of these institutions;

t) eligibility of capital and debt instruments for composition of Reference Equity – RE, as Main Capital, Complementary, and Level II, as provided in Resolution No. 4,192, of March 1, 2013;

u) repurchase or redemption, by the issuer, of the instruments authorized to compose Reference Equity-RE, as provided in Resolution No. 4,192, of March 1, 2013;

v) shareholder or partner agreement;

x) authorization to operate in a new modality of payment institution;

z) change of the administrative structure provided for in the bylaws or social contract of a payment institution.

VII – other requests specified in the Organization Manual of the Financial System – Sisorf, available for access on the Central Bank of Brazil's internet page:

a) Sisorf 3.4.20.20 (financial institutions and other institutions governed by Law No. 4,595, of December 31, 1964, except credit cooperatives);

b) Sisorf 3.4.20.30 (credit cooperatives);

c) Sisorf 3.4.20.40 (consortium administrators);

d) Sisorf 3.4.20.50 (payment institutions);

e) Sisorf 3.4.20.52 (payment arrangements);

f) Sisorf 3.4.20.60 (financial market infrastructures);

g) Sisorf 3.4.20.70 (other segments).

ANNEX II

List of financial institutions and other institutions authorized to operate by the Central Bank of Brazil, including SPB members and Deorf organizational components, to which documents and information for the preparation of requests must be sent:

I. Consortium Administrators

Destination	Headquarters or Domicile Location
Technical Management in Curitiba (GTCUR)	All federative units, except administrators part of a financial conglomerate whose leading institution has headquarters in the state of São Paulo
Technical Management in São Paulo (GTSPA)	Administrators part of a financial conglomerate whose leading institution has headquarters in the state of São Paulo

II. Banks

Destination	Headquarters or Domicile Location
Financial System Organization Division (Difin)	Federal District, except cooperative banks
Technical Management in Belo Horizonte (GTBHO)	Goiás, Minas Gerais, Tocantins, and cooperative banks headquartered in the Federal District
Technical Management in Curitiba (GTCUR)	Mato Grosso, Mato Grosso do Sul, and Paraná
Technical Management in Porto Alegre (GTPAL)	Rio Grande do Sul and Santa Catarina
Technical Management in Recife (GTREC)	Acre, Alagoas, Amapá, Amazonas, Ceará, Maranhão, Pará, Paraíba, Pernambuco, Piauí, Rio Grande do Norte, Rondônia, and Roraima
Technical Management in Rio de Janeiro (GTRJA)	Espírito Santo and Rio de Janeiro
Technical Management in Salvador (GTSAL)	Bahia and Sergipe
Technical Management in São Paulo (GTSPA)	São Paulo

III. Foreign Exchange Brokerage Societies

Destination	Headquarters or Domicile Location
Technical Management in Curitiba (GTCUR)	Espírito Santo, Mato Grosso, Mato Grosso do Sul, Paraná, and Rio de Janeiro
Technical Management in Porto Alegre (GTPAL)	Federal District, Goiás, Minas Gerais, Rio Grande do Sul, Santa Catarina, and Tocantins
Technical Management in Recife (GTREC)	Acre, Alagoas, Amapá, Amazonas, Bahia, Ceará, Maranhão, Pará, Paraíba, Pernambuco, Piauí, Rio Grande do Norte, Rondônia, Roraima, and Sergipe
Technical Management in São Paulo (GTSPA)	São Paulo

IV. Securities Brokerage Societies

Destination	Headquarters or Domicile Location
Technical Management in Rio de Janeiro (GTRJA)	All federative units, except São Paulo
Technical Management in São Paulo (GTSPA)	São Paulo

V. Securities Distribution Societies

Destination	Headquarters or Domicile Location
Technical Management in Rio de Janeiro (GTRJA)	All federative units, except São Paulo
Technical Management in São Paulo (GTSPA)	São Paulo

VI. Microentrepreneur and Small Business Credit Societies

Destination	Headquarters or Domicile Location
Technical Management in Recife (GTREC)	All federative units, except Bahia, Goiás, Minas Gerais, São Paulo, Sergipe, and Tocantins
Technical Management in Salvador (GTSAL)	Bahia, Goiás, Minas Gerais, São Paulo, Sergipe, and Tocantins

VII. Credit, Financing, and Investment Societies

Destination	Headquarters or Domicile Location
Technical Management in Porto Alegre (GTPAL)	All federative units, except Espírito Santo, Rio de Janeiro, and São Paulo
Technical Management in São Paulo (GTSPA)	Espírito Santo, Rio de Janeiro, and São Paulo

VIII. Direct Credit Societies and Peer-to-Peer Lending Societies

Destination	Headquarters or Domicile Location
Financial System Organization Division (Difin)	Federal District
Technical Management in Belo Horizonte (GTBHO)	Goiás, Minas Gerais, Tocantins
Technical Management in Curitiba (GTCUR)	Mato Grosso, Mato Grosso do Sul, and Paraná
Technical Management in Porto Alegre (GTPAL)	Rio Grande do Sul and Santa Catarina
Technical Management in Recife (GTREC)	Acre, Alagoas, Amapá, Amazonas, Ceará, Maranhão, Pará, Paraíba, Pernambuco, Piauí, Rio Grande do Norte, Rondônia, and Roraima
Technical Management in Rio de Janeiro (GTRJA)	Espírito Santo and Rio de Janeiro
Technical Management in Salvador (GTSAL)	Bahia and Sergipe
Technical Management in São Paulo (GTSPA)	São Paulo

IX. Credit Confederations, Central Credit Cooperatives, and Standalone Credit Cooperatives Not Affiliated to Centers

Destination	Headquarters or Domicile Location
Technical Management in Belo Horizonte (GTBHO)	Minas Gerais and São Paulo
Technical Management in Curitiba (GTCUR)	Goiás, Mato Grosso, Mato Grosso do Sul, Paraná, and Tocantins
Technical Management in Porto Alegre (GTPAL)	Rio Grande do Sul and Santa Catarina
Technical Management in Recife (GTREC)	Acre, Alagoas, Amapá, Amazonas, Ceará, Maranhão, Pará, Paraíba, Pernambuco, Piauí, Rio Grande do Norte, Rondônia, and Roraima
Technical Management in Rio de Janeiro (GTRJA)	Espírito Santo and Rio de Janeiro
Technical Management in Salvador (GTSAL)	Bahia, Federal District, and Sergipe

X. Standalone Credit Cooperatives Affiliated to Central Credit Cooperatives

Destination	Headquarters of the Central Credit Cooperative to Which the Standalone Cooperative is Affiliated or Domicile of the Group Organizing the Request
Technical Management in Belo Horizonte (GTBHO)	Minas Gerais and São Paulo
Technical Management in Curitiba (GTCUR)	Goiás, Mato Grosso, Mato Grosso do Sul, Paraná, and Tocantins
Technical Management in Porto Alegre (GTPAL)	Rio Grande do Sul and Santa Catarina
Technical Management in Recife (GTREC)	Acre, Alagoas, Amapá, Amazonas, Ceará, Maranhão, Pará, Paraíba, Pernambuco, Piauí, Rio Grande do Norte, Rondônia, and Roraima
Technical Management in Rio de Janeiro (GTRJA)	Espírito Santo and Rio de Janeiro
Technical Management in Salvador (GTSAL)	Bahia, Federal District, and Sergipe

XI. Payment Arrangements Part of the SPB

Destination	Headquarters or Domicile Location
Payment Arrangements Division (Dipag)	All federative units

XII. Clearinghouses and Compensation and Settlement Service Providers

Destination	Headquarters or Domicile Location
Financial Market Infrastructures Division (Dimef)	All federative units

XIII. Financial Asset Registry Entities

Destination	Headquarters or Domicile Location
Financial Market Infrastructures Division (Dimef)	All federative units

XIV. Centralized Financial Asset Deposit Entities

Destination	Headquarters or Domicile Location
Financial Market Infrastructures Division (Dimef)	All federative units

XV. Payment Institutions

Destination	Headquarters or Domicile Location
Financial System Organization Division (Difin)*	Federal District
Technical Management in Belo Horizonte (GTBHO)	Goiás, Minas Gerais, and Tocantins
Technical Management in Curitiba (GTCUR)	Mato Grosso, Mato Grosso do Sul, and Paraná
Technical Management in Porto Alegre (GTPAL)	Rio Grande do Sul and Santa Catarina
Technical Management in Recife (GTREC)	Acre, Amapá, Amazonas, Ceará, Maranhão, Pará, Paraíba, Pernambuco, Piauí, Rio Grande do Norte, Rondônia, Roraima
Technical Management in Rio de Janeiro (GTRJA)	Espírito Santo and Rio de Janeiro
Technical Management in Salvador (GTSAL)	Alagoas, Bahia, and Sergipe
Technical Management in São Paulo (GTSPA)	São Paulo

(*) The Financial System Organization Division (Difin) will analyze all authorization processes for operation of Payment Institutions (PIs), authorization for the provision of payment services by an institution authorized to operate by the Central Bank of Brazil, and authorization for the provision of a new modality of payment service, regardless of the federative unit where the PI's headquarters or domicile is located. Other requests related to PIs must be directed to the respective Deorf components presented in the table above.

XVI. Other Requesting Institutions

Destination	Headquarters or Domicile Location
Financial System Organization Division (Difin)	Federal District
Technical Management in Belo Horizonte (GTBHO)	Goiás, Minas Gerais, Tocantins
Technical Management in Curitiba (GTCUR)	Mato Grosso, Mato Grosso do Sul, and Paraná
Technical Management in Porto Alegre (GTPAL)	Rio Grande do Sul and Santa Catarina
Technical Management in Recife (GTREC)	Acre, Alagoas, Amapá, Amazonas, Ceará, Maranhão, Pará, Paraíba, Pernambuco, Piauí, Rio Grande do Norte, Rondônia, and Roraima
Technical Management in Rio de Janeiro (GTRJA)	Espírito Santo and Rio de Janeiro
Technical Management in Salvador (GTSAL)	Bahia and Sergipe
Technical Management in São Paulo (GTSPA)	São Paulo

ANNEX III

List of Deorf organizational components

I - Financial System Organization Technical Management in Belo Horizonte (DEORF/GTBHO)

Phone: (31) 3253–7448
E-mail: gtbho.deorf@bcb.gov.br

II - Financial System Organization Technical Management in Curitiba (DEORF/GTCUR)

Phone: (41) 3281–3350
E-mail: