Central Bank of Brazil Instruction Normative No. 728 of April 27, 2026

Resolution No. 222

INSTRUCTION NORMATIVE BCB No. 728, OF APRIL 27, 2026

Amends Instruction Normative BCB No. 198, of December 9, 2021, which establishes the procedures necessary to enable the withdrawal agent to offer the Pix Withdrawal and Pix Change products, and Instruction Normative BCB No. 199, of December 9, 2021, which establishes the operational procedures for charging and effecting the reimbursement of operational costs related to each Pix with the purpose of withdrawal or change, to improve provisions related to the withdrawal service facilitator; and revokes Instruction Normative BCB No. 200, of December 9, 2021, which established the operational procedures for charging and effecting the reimbursement of operational costs related to each Pix with the purpose of withdrawal or change settled outside the Instant Payment System.

The Head of the Department of Competition and Financial Market Structure (Decem), in the exercise of the authority conferred upon him by Art. 23, item I, clause "a", of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, based on Art. 94, item IX, of the aforementioned Regulations, and taking into account the provisions of Arts. 11-N and 96-B, § 6º, of the Regulation annexed to Resolution BCB No. 1, of August 12, 2020,

RESOLVES:

Art. 1º Instruction Normative BCB No. 198, of December 9, 2021, published in the Official Gazette of the Union on December 13, 2021, shall enter into force with the following alterations:

“Art. 1º ...................................................................................................................................

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III - keep updated the set of information referred to in item I; and

IV - exclude the set of information referred to in item I when there is termination of the contract by either party.

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§ 4º The central credit cooperative or the multiple cooperative bank acting as a withdrawal service facilitator must make available the information regarding the filling of the QR Code necessary for the singular credit cooperative acting as a transaction account provider for the withdrawal agent to operationalize the Pix with the purpose of withdrawal or change.” (NR)

“Art. 2º ...................................................................................................................................

I - initiate the operationalization of Pix with the purpose of withdrawal or change and enable the generation of a QR Code associated with this product;

II - suspend or finalize the operationalization of Pix with the purpose of withdrawal or change and prevent the generation of a QR Code associated with this product; and

.......................................................................................................................................” (NR)

Art. 2º Instruction Normative BCB No. 199, of December 9, 2021, published in the Official Gazette of the Union on December 13, 2021, shall enter into force with the following alterations:

“Art. 2º ...................................................................................................................................

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Sole Paragraph. .....................................................................................................................

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II - consider Pix transactions with the purpose of withdrawal or change settled in the systems of the direct participant of the SPI and involving a withdrawal service facilitator that uses the settlement service of this direct participant of the SPI, settled in the month immediately preceding the month of calculation of the net position, when it concerns a singular credit cooperative and the central credit cooperative or the multiple cooperative bank to which it is affiliated; and

.......................................................................................................................................” (NR)

“Art. 4º The reimbursement of operational costs related to each Pix transaction with the purpose of withdrawal or change settled in the systems of the direct participants of the SPI and involving a withdrawal service facilitator that uses the settlement service of this direct participant of the SPI must be carried out by the tenth business day of each month, referring to transactions carried out in the immediately preceding month, when it concerns a singular credit cooperative and the central credit cooperative or the multiple cooperative bank to which it is affiliated.

Sole Paragraph. The operational procedures for the reimbursement referred to in the caput must be freely established between the parties in the settlement service provision contract between the singular credit cooperative and the central credit cooperative or the multiple cooperative bank to which it is affiliated.” (NR)

Art. 3º The following are revoked:

I - the following provisions of Instruction Normative BCB No. 198, of December 9, 2021:

a) items V and VI of the caput of Art. 1º;

b) § 2º of Art. 1º;

c) sole paragraph of Art. 2º; and

d) Art. 3º; and

II - Instruction Normative BCB No. 200, of December 9, 2021, published in the Official Gazette of the Union on December 13, 2021.

Art. 4º This Instruction Normative enters into force on July 1, 2026.

RICARDO TEIXEIRA LEITE MOURÃO

NOTE

Decree No. 10.411, of June 30, 2020, provides for the mandatory implementation of a regulatory impact analysis (AIR) for the issuance of normative acts of general interest produced by the organs and entities of the direct and indirect federal public administration.

However, as defined in paragraph 8 of Vote 280/2021–BCB, of November 10, 2021, the Pix Regulation, including other documents that integrate, detail, or complement it, do not characterize themselves as regulatory acts of coercive force, possessing, in truth, an eminently contractual nature. Thus, modifications promoted in the aforementioned regulation and in the other documents that integrate, detail, or complement it are not subject to the prior production of an AIR.

RICARDO TEIXEIRA LEITE MOURÃO