Circular No. 4031 — Amends Circular No. 3,682 of November 4, 2013, to establish conditions for payment arrangements to integrate into the Brazilian Payments System (SPB) due to risks to the normal functioning of retail payment transactions

The Collegiate Board of Directors of the Central Bank of Brazil, in a session held on June 23, 2020, based on the provisions of Articles 9, item I, and 15 of Law No. 12,865 of October 9, 2013, and considering the provisions of Resolution No. 4,282 of November 4, 2013,

R E S O L V E:

Art. 1º Circular No. 3,682 of November 4, 2013, shall enter into force with the following alterations:

“Art. 3º If the Central Bank of Brazil considers that a certain arrangement poses a risk to the normal functioning of retail payment transactions based on the parameter defined in Article 6, sole paragraph, item VI, of Resolution No. 4,282 of November 4, 2013, it shall decide on its integration into the SPB and notify its sponsor of the decision.

Sole paragraph. The norms applicable to arrangements that integrate the SPB, including regarding the eventual need for authorization to operate, shall apply to the arrangement and its sponsor after 30 (thirty) days, counted from the date of receipt of the communication referred to in the main text, unless the Central Bank of Brazil specifies a different period in its decision or conditions the start or continuation of the arrangement's activities on obtaining authorization.” (NR)

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

João Manoel Pinho de Mello
Director of Organization of the Financial System and Resolution