Regulatory Alerts2020-05-25 | Carta Circular 4055Circular Letter No. 4055 — Establishes Procedures and Schedule for Formal Homologation Testing for Direct Participants in the Instant Payment System (SPI)
The Central Bank of Brazil issued Circular Letter No. 4055 to define the mandatory testing procedures and timeline required for institutions to obtain authorization as direct participants in the Instant Payment System (SPI) production environment. The regulation mandates that institutions complete nine specific technical tests, including connectivity, liquidity, and capacity checks, within specified windows between June and October 2020 to meet the October 16 deadline for system launch. Successful completion of these tests and submission of an aptitude declaration are prerequisites for direct participation in the SPI.
The Head of the Department of Banking Operations and Payment Systems (Deban) and the Head of the Information Technology Department, in exercise of the powers conferred upon them respectively by Article 111, item V, and Article 62, item IV, and Article 23, item I, letter "a", of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 84,287 of February 27, 2015, and considering the provisions of Articles 4, 6, and 9 of Circular Letter No. 3,985 of February 18, 2020,
RESOLVE:
Article 1. This Circular Letter establishes the procedures and schedule for the tests of the formal homologation stage for the authorization of direct participants in the production environment of the Instant Payment System (SPI) for the start of system operations, to be observed by institutions that requested registration in the direct participation modality in the SPI, as addressed in Circular Letter No. 4,006 of February 20, 2020, and Circular Letter No. 4,022 of April 9, 2020.
Article 2. The description of the procedures and schedule whose compliance, by October 16, 2020, constitutes a necessary condition for the authorization of the institution as a direct participant in the SPI production environment is contained in the annexed table.
Article 3. This Circular Letter enters into force on June 1, 2020.
Flávio Túlio Vilela
Head of the Department of Banking Operations and Payment Systems
Haroldo Jayme Martins Froes Cruz
Head of the Information Technology Department
ANNEX
Table of Procedures and Deadlines for Compliance with Mandatory Tests for Access to the SPI on the Date of System Launch
Object of the Tests
For compliance purposes, the institution must:
Period
- Connectivity Tests
Send a pibr.001 and successfully receive the pibr.002 from the SPI (ECO message).
June 1, 2020 to June 30, 2020
- Payment and Return Liquidity Tests, Balance Inquiry for the PI Account, and Transaction Details
Send a pacs.008 and successfully receive the pacs.002 from the SPI confirming the settlement of the operation;
Receive a pacs.008 and accept its receipt, sending a pacs.002 with an acceptance status;
Receive a pacs.008 and reject its receipt, sending a pacs.002 with a rejection status and code;
Send a pacs.004 and successfully receive the pacs.002 from the SPI confirming the settlement of the operation;
Receive a pacs.004 and accept its receipt, sending a pacs.002 with an acceptance status;
Receive a pacs.004 and reject its receipt, sending a pacs.002 with a rejection status and code;
Send a camt.060 message and successfully receive a camt.053 with current balance information;
Send a camt.060 message and successfully receive a camt.053 with closing balance information for a previous day; and
Send a camt.060 message and successfully receive a camt.054 with transaction details.
June 1, 2020 to August 31, 2020
- Transaction List Inquiry Tests
Send a camt.060 message and successfully receive a camt.052 indicating the file containing a list of transactions; and
Download the file with the list of transactions.
June 15, 2020 to August 31, 2020
- Liquidity Mechanism Contribution and Withdrawal Tests, using the STR, for the PI Account
Receive an LPI0001 (transfer from RB/CL account to PI Account) in your PI Account, via your own command or the liquidator's command in the STR;
Successfully command an LPI0003 (transfer from PI Account to RB/CL account) for contribution to your own RB/CL or the liquidator's RB/CL in the STR;
If you are a holder of a CCME account:
Receive an LPI0002 (transfer from CCME account to PI Account) in your PI Account, via your own command; and
Successfully command an LPI0004 (transfer from PI Account to CCME) for contribution to your own CCME;
If you are an STR participant and/or holder of a CCME account:
Send an LPI0005 (automatic transfer configuration), configuring a transfer from your RB/CL and/or CCME; and
Successfully receive an LPI0006 (STR informs execution of automatic transfer).
Observations:
The STN will send LPI0007 messages (Treasury transfer from subaccount of Single Account to PI Account) and LPI0008 (Treasury transfer from PI Account to subaccount of Single Account);
The STR will begin sending the second STR0016 with second balance information, after the supplementary contribution schedule, starting from June 15, 2020; and
Non-STR participating institutions must command LPI group messages via STR-Web.
June 15, 2020 to September 15, 2020
- SPI Rediscount Line Operation Test with TPF (only for financial institutions that are direct participants in the SPI and Selic), using Selic, for contribution to the PI Account
Successfully command in Selic a request for operation on the SPI rediscount line – message SEL1009 (IF requests liquidity in PI Account);
Successfully command in Selic a partial payment for a contracted operation – message SEL1016 (IF requests liquidity payment in PI Account) with Return Type for SPI liquidity payment = 2;
Successfully command in Selic a total payment for contracted operations – message SEL1016 (IF requests liquidity payment in PI Account) with Return Type for SPI liquidity payment = 1.
June 15, 2020 to September 15, 2020
- Indirect Participant Settlement Service Registration Tests
If you wish to act as a Liquidator of indirect participants in the SPI:
Send a reda.014 (settlement service registration for indirect participant) and successfully receive the reda.016 from the SPI confirming the operation;
Send a reda.031 (discontinuation of settlement service for indirect participant) and successfully receive the reda.016 from the SPI confirming the operation.
Observation:
Initially, indirect participants will be manually registered in the SPI to allow settlement tests starting from June 1, 2020. Nevertheless, their liquidators may use operations "6.b" and "6.a" to exclude and reinclude the institutions for which they provide settlement services.
July 1, 2020 to September 30, 2020
- Capacity Test
Send pacs.008 messages distributed uniformly over 10 minutes, being:
A total of 10,000 messages for PSPs with up to 1 million transactional accounts (that is, 1,000 messages per minute);
A total of 20,000 messages for PSPs with up to 10 million transactional accounts (that is, 2,000 messages per minute); or
A total of 40,000 messages for PSPs with more than 10 million transactional accounts (that is, 4,000 messages per minute);
Receive pacs.008 messages distributed uniformly over 10 minutes and accept them by sending pacs.002, being:
A total of 10,000 messages for PSPs with up to 1 million transactional accounts (that is, 1,000 messages per minute);
A total of 20,000 messages for PSPs with up to 10 million transactional accounts (that is, 2,000 messages per minute); or
A total of 40,000 messages for PSPs with more than 10 million transactional accounts (that is, 4,000 messages per minute).
Observations:
Tests "7.a" and "7.b" must be successfully executed once by the SPI direct participant, on a date and time (from 9 am to 6 pm on business days) that must be requested via email to spi@bcb.gov.br;
The verification of test compliance will be carried out by the Central Bank of Brazil (BCB) on the date and time agreed upon for the participant's test execution;
Success in the tests requires compliance with the service level agreements established for the settlement of operations;
For the execution of test "7.a", the participant may seek another partner institution or, if preferred, send payments to the "virtual receiving PSP", which will be created by the BCB to serve as the receiving counterparty in the institutions' tests, always responding with pacs.002 acceptance messages to any payment order received. The ISPB of the "virtual receiving PSP" will be disclosed in due course;
For the execution of test "7.b", the participant may seek another partner institution or, if preferred, request that the BCB use the "virtual paying PSP" to generate the pacs.008 messages;
The pacs.008 messages sent by the BCB using the "virtual paying PSP" will always be generated with agency, account, account type, and CPF data of a "virtual receiving client" to be defined by the BCB. The ISPB of the "virtual paying PSP" and the data of the "virtual receiving client" will be disclosed in due course.
The request to use the "virtual paying PSP" must be made together with the email in which the institution indicates the date and time for the capacity test.
August 3, 2020 to September 30, 2020
- Contact Registration Tests for Persons Responsible for PI Account Operation and Receipt of SPI Operational Alerts
Send a reda.022 (information of data of persons responsible for PI Account operation) and successfully receive a reda.016 from the SPI confirming the inclusion of data;
Receive and properly handle, taking due measures, an admi.004 message (SPI operational alerts) sent by the SPI;
Receive and properly handle a camt.014 (notice of inclusion or exclusion of participant in the SPI), sent by the BCB using virtual PSPs created for this purpose; and
Receive and properly handle a reda.041 (notice of change in SPI participant registration data), sent by the BCB using virtual PSPs created for this purpose.
Observation:
The BCB may, occasionally, during the tests, contact the institution via phones registered through the reda.022 message to verify compliance with items "8.b" to "8.d".
August 3, 2020 to October 16, 2020
- Submission of Aptitude Declaration to Operate in the SPI Production Environment
After completion of all tests specified in this table, submit a declaration of completion and proof of operational and technological capacity to operate in the SPI production environment, according to a model to be disclosed in due course.
Observation:
The declaration must be sent via BC Correio sent through the Sisbacen user of the Director or holder of an equivalent administrative position who is responsible for compliance with regulations related to the SPI.
By October 16, 2020.
The homologation tests in the SPI will be reopened and may be executed at any time starting from December 1, 2020.