Joint Resolution No. 5

JOINT RESOLUTION NO. 5, OF MAY 20, 2022

Provisions on interoperability in Open Finance.

The Central Bank of Brazil and the Private Insurance Superintendence make public that the Collegiate Board of the Central Bank of Brazil, in a session held on March 17, 2022, based on art. 9, item II, of Law No. 12,865, of October 9, 2013; the Monetary National Council, in a session held on March 24, 2022, based on art. 4, item VIII, of Law No. 4,595, of December 31, 1964; the Director Council of the Private Insurance Superintendence, in a session held on April 7, 2022, based on art. 9, item VIII, of Annex I of CNSP Resolution No. 428, of November 12, 2021; and the National Council of Private Insurance, in an extraordinary session held on May 20, 2022, based on art. 32, items I and II, of Decree-Law No. 73, of November 21, 1966, and having in view the provisions of art. 4, item VI, of Joint Resolution No. 1, of May 4, 2020, and art. 3, item VII, of CNSP Resolution No. 415, of July 20, 2021,

RESOLVED:

Art. 1 This Joint Resolution provides for interoperability in Open Finance.

Art. 2 For the purposes of this Joint Resolution, the following are considered:

I - interoperability in Open Finance: the standardized sharing of data, with client consent, in a secure, agile, and precise manner, among participants of the systems governed by the following normative acts:

a) Joint Resolution No. 1, of May 4, 2020, of the Central Bank of Brazil and the Monetary National Council; and

b) CNSP Resolution No. 415, of July 20, 2021, of the National Council of Private Insurance; and

II - support infrastructures: the support services for the participants of the systems referred to in item I, contracted in accordance with the applicable current regulation, related to:

a) the participant directory;

b) the service desk;

c) the dispute resolution platform;

d) the testing environment for Application Programming Interfaces (APIs); and

e) other services, as per specific regulation to be issued in the form of art. 4.

Art. 3 The participants of the systems mentioned in item I of art. 2, through the governance structures responsible for their implementations, must:

I - propose and implement technical standards and other operational procedures that ensure the interoperability of the systems that make up Open Finance; and

II - establish a forum for joint discussion and decision-making for the implementation and management of the support infrastructure necessary to guarantee interoperability in Open Finance.

§ 1 The proposals and implementations referred to in item I of the caput must meet the requirements provided for in the applicable current regulation for the participants of each system mentioned in item I of art. 2.

§ 2 The proposals referred to in item I of the caput must be submitted by November 30, 2023, through the governance structures of the systems mentioned in item I of art. 2, to the Central Bank of Brazil and the Private Insurance Superintendence for approval and, where applicable, evaluation of the feasibility of incorporating the content of the standards and other operational procedures, in whole or in part, into the regulation under the responsibility of the aforementioned agencies, or propose their incorporation into the regulation under the competence of the Monetary National Council and the National Council of Private Insurance.

Art. 4 The Central Bank of Brazil and the Private Insurance Superintendence, within the scope of their legal attributions, will adopt the necessary measures for compliance with the provisions of this Joint Resolution, including the issuance of joint acts aimed at implementing interoperability in Open Finance and covering the definition of the implementation schedule for the technical standards and operational procedures referred to in art. 3.

Art. 5 This Joint Resolution enters into force on January 2, 2023.

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

Alexandre Milanese Camillo Superintendent of the Private Insurance Superintendence