CMN Resolution No. 4,888 — Amends Resolution No. 4,734 of June 27, 2019, regarding new homologatory testing stages for financial institutions and extends the effective date

Resolution

CMN RESOLUTION NO.
4,888, OF FEBRUARY 12, 2021

Amends Resolution No. 4,734, of June 27,
2019, providing for the carrying out of new stages of homologatory tests by financial institutions and extending the date for the entry into force of the aforementioned Resolution.

The Central Bank of Brazil, in accordance with art. 9 of Law No. 4,595, of December 31, 1964, makes public that the National Monetary Council, in an extraordinary session held on February 11, 2021, based on the provisions of arts. 4, items VI and VIII, of the aforementioned Law, and 26-A of Law No. 12,810, of May 15, 2013,

R E S O L V E D :

Art. 1 The Resolution
No. 4,734, of June 27, 2019, shall enter into force with the following alterations:

“Art. 7-B The financial institutions referred to in art.
7-A must be capable of complying with the provisions of this Resolution from the date mentioned in item II of art. 11.

§ 1 The aptitude referred to in the caput shall be attested by the successful completion of all stages of the integration homologatory tests referred to in art. 7-A, according to the schedule referred to in item I of art. 8.

§ 2 Failure to comply with any of the stages of the homologatory tests referred to in art. 7-A subjects the financial institutions to the sanctions and administrative measures provided for in the legislation in force, as well as, at the discretion of the Central Bank of Brazil, to the provisional suspension of the carrying out of the operations referred to in art. 1, from the date mentioned in item II of art. 11.

§ 3 The Central Bank of Brazil, when determining the suspension referred to in § 2, shall establish the conditions under which this suspension will be lifted.” (NR)

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

I - on the date of its publication, with respect to arts. 7-A, 7-B, 8 and 9; and

II - on June 7, 2021, with respect to the other provisions.” (NR)

Art. 2 Paragraphs 4 and 5 of art. 7-A of Resolution No. 4,734, of 2019, are revoked.

Art. 3 This
Resolution enters into force on the date of its publication.

Roberto de Oliveira Campos Neto
President of the Central Bank of Brazil