CMN Resolution No. 4867 — Amends Resolution No. 4734 regarding payment arrangement receivables discounting operations

Resolution No. 4,867

CMN RESOLUTION
NO. 4,867, OF OCTOBER 29, 2020

Amends Resolution No. 4,734, of June 27, 2019, which establishes conditions and procedures for the conduct of discounting operations of payment arrangement receivables based on a post-paid account and a demand deposit, and of credit operations secured by such receivables, by financial institutions.

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the National Monetary Council, in an extraordinary session held on October 29, 2020, based on the provisions of Article 4, items VI and VIII, of the aforementioned Law,

R E S O L V E D:

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

“Art. 7-A. Financial institutions intending to conduct discounting operations of payment arrangement receivables or credit operations secured by payment arrangement receivables as provided in this Resolution must participate in homologation integration tests with the payment arrangement receivables registration systems.

§ 1. The institutions referred to in the caput must notify the Central Bank of Brazil, by November 17, 2020, of their intention to participate in the homologation tests.

§ 2. The notification referred to in § 1 must indicate the director responsible for conducting the homologation tests.

§ 3. The director mentioned in § 2 may perform other functions within the institution, provided there is no conflict of interest.

§ 4. Failure to comply with the tests established in the caput, according to the plan approved by the Central Bank of Brazil, subjects financial institutions to provisional suspension of the conduct of the operations referred to in Article 1, starting from the date mentioned in item II of Article 11.

§ 5. In the event that the Central Bank of Brazil determines the suspension treated in § 4, the conditions under which this suspension will be lifted must be established.” (NR)

“Art. 8. The Central Bank of Brazil is authorized to establish the procedures necessary for compliance with the provisions of this Resolution, including regarding the definition:

I - of the schedule and documentation necessary for the conduct of the homologation tests referred to in Art. 7-A; and

II - of the measures to be adopted by financial institutions that fail to comply with the test schedule referred to in item I, especially aiming to publicize this fact.” (NR)

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

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

II - on February 17, 2021, with respect to the remaining provisions.” (NR)

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

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