Regulatory Alerts2024-10-29
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Compilation of Payment System Regulations - Modifications in Books IV, VII and IX
The Central Bank of Uruguay adopted Resolution No. D/321/2024 on October 23, 2024, to modify the Compilation of Payment System Regulations, specifically amending Books III, IV, VII, and IX. These changes were introduced by the Payment System Management based on an analysis of current regulations and market evolution, aiming to modernize the National Payment System. The resolution mandates the communication of these provisions via Circular No. 2467 to the relevant entities.
Compilation of Payment System Regulations - Modifications in Books IV, VII and IX
Montevideo, October 29, 2024
CIRCULAR NO. 2467
Ref:
It is brought to your attention that this Central Bank adopted, on October 23, 2024, Resolution No. D/321/2024, which is attached, followed by the referenced text.
ANA CLAUDIA DE LOS HEROS MENDEZ PAYMENT SYSTEM MANAGEMENT
(Exp. No. 2023-50-1-02336) Diagonal Fabini 777 - C.P. 11100 - Tel.: (598 2) 1967 - Montevideo, Uruguay - www.bcu.gub.uy
BOARD OF DIRECTORS - RESOLUTION
Montevideo, October 23, 2024.
BOARD OF DIRECTORS
VISTO: The proposal from the Payment System Management to modify Books III, IV, VII, and IX of the Compilation of Payment System Regulations.
RESULTING FROM: That the Payment System Management, based on the analysis of current regulations, considers it convenient to introduce modifications in the aforementioned regulations, as well as incorporate new articles taking into account market evolution.
CONSIDERING:
I) That for more than a decade, the National Payment System and, in particular, the retail payment system, have been undergoing a modernization process, both in terms of their operational processes and the range of instruments and actors participating in the payment chain;
II) That driven by technological advances implemented both nationally and internationally, the participants themselves are in a continuous search for new alternatives that translates into improvements for the market, in terms of cost reduction, speed, usability, and security;
III) That with the aim of favoring a solid, efficient, innovative, and accessible payment system, the regulatory norms must be symmetric and transparent, so it is considered appropriate to introduce the proposed regulatory changes, taking into account the principle of proportionality based on the risk that each type of entity or system generates for the National Payment System.
ATTENTIVE: To the above, to the provisions of Law No. 16.696 of March 30, 1995, as amended by Article 5 of Law No. 18.401 of October 24, 2008, to Law No. 18.573 of September 13, 2009, to Law No. 19.210 of April 29, 2014, and its amendments, to the opinions of the Legal Advisory No. 2024/0078 of March 12, 2024, and No. 2024/0302 of September 4, 2024, to what was reported by the Payment System Management on October 14, 2024, and other background information appearing in file No. 2023-50-1-2336,
IT IS RESOLVED:
- Modify the Compilation of Payment System Regulations, according to the text attached from folio 210 to 233 of file No. 2023-50-1-2336.
R.N°: D-321-2024 CIRCULAR NO. 2467
BOARD OF DIRECTORS - RESOLUTION
- Entrust the communication of the provisions, by means of a Circular, to the Payment System Management.
(Today's Session - Minutes No. 3734) (File No. 2023-50-1-2336)
Jorge Christy General Secretary
Aar/am
Publishable Resolution R.N°: D-321-2024 Signatory: Jorge Eduardo Christy Davies Date: 23/10/2024 19:22:18 CIRCULAR NO. 2467
File No.: 2023-50-1-02336 _Informe PDR Proyecto Normativo final.pdf Folio No. 210 CIRCULAR NO. 2467
File No.: 2023-50-1-02336 _Informe PDR Proyecto Normativo final.pdf Folio No. 211 CIRCULAR NO. 2467
File No.: 2023-50-1-02336 _Informe PDR Proyecto Normativo final.pdf Folio No. 212 CIRCULAR NO. 2467
File No.: 2023-50-1-02336 _Informe PDR Proyecto Normativo final.pdf Folio No. 213 CIRCULAR NO. 2467
File No.: 2023-50-1-02336 _Informe PDR Proyecto Normativo final.pdf Folio No. 214 CIRCULAR NO. 2467
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File No.: 2023-50-1-02336 _Informe PDR Proyecto Normativo final.pdf Folio No. 217 CIRCULAR NO. 2467
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File No.: 2023-50-1-02336 _Informe PDR Proyecto Normativo final.pdf Folio No. 221 CIRCULAR NO. 2467
File No.: 2023-50-1-02336 _Informe PDR Proyecto Normativo final.pdf Folio No. 222 CIRCULAR NO. 2467
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File No.: 2023-50-1-02336 _Informe PDR Proyecto Normativo final.pdf Folio No. 226 CIRCULAR NO. 2467
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File No.: 2023-50-1-02336 _Informe PDR Proyecto Normativo final.pdf Folio No. 230 CIRCULAR NO. 2467
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File No.: 2023-50-1-02336 _Informe PDR Proyecto Normativo final.pdf Folio No. 232 CIRCULAR NO. 2467
File No.: 2023-50-1-02336 _Informe PDR Proyecto Normativo final.pdf Folio No. 233 CIRCULAR NO. 2467
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