Instruction Normative BCB No. 370 of April 10, 2023

Resolution No. 222

INSTRUCTION NORMATIVE BCB No. 370, OF APRIL 10, 2023

Amends
Instruction Normative BCB No. 243, of March 16, 2022, which disseminates procedures to be observed for direct participation in the Instant Payments System (SPI), for the opening of the Instant Payments Account (Instant Payments Account) and defines the maximum time limits for validation and for settlement of instant payment orders, as provided for in the Regulation annexed to Resolution BCB No. 195, of March 3, 2022.

The Head of the Department of Banking Operations and Payment Systems (Deban), in the exercise of the powers conferred by art. 23, item I, letter “a”, and by art. 111, item V, of the Internal Regulations of the Central Bank of Brazil, anexed to Ordinance No. 84.287, of February 27, 2015, and taking into account the provisions of the Regulation annexed to Resolution BCB No. 195, of March 3, 2022,

R E S O L V E :

Art. 1º The art. 19 of Instruction
Normative BCB No. 243, of March 16, 2022, shall be amended as follows:

“Art.
19. The maximum time limit for settlement, as provided for in art. 42, caput,
of the SPI Regulation, annexed to Resolution BCB No. 195, of 2022, is:

I

• 40 (forty) seconds for orders posted on the Primary Message Transmission Channel,
  as defined in the Communication Interfaces Manual; and

II

• 45 (forty-five) minutes for orders posted on the Secondary Message Transmission Channel,
  as defined in the Communication Interfaces Manual.” (NR)

Art. 2º This Instruction
Normative enters into force on October 29, 2023.

Rogério Antônio Lucca

note

This Instruction Normative aims to update the maximum time limits for settlement of instant payment orders in the Instant Payments System (SPI), due to the creation of the Secondary Message Transmission Channel. The secondary channel will be used in the processing of Pix transactions where there is no, neither by the paying user nor by the receiving user, the expectation of immediate settlement of Pix in a few seconds (such as scheduled payments). The segregation of channels for message transmission by SPI participants, by allowing all members of the settlement cycle to rationally prioritize technological resources, is important to ensure the proper processing of Pix in the current environment of increasing use of this payment instrument.

Given the need for adaptations in Central Bank and participants' systems, the segregation of channels is scheduled to be implemented in the SPI production environment on October 29, 2023.

Considering that SPI operates 24 hours a day, every day of the year, the implementation of changes in its infrastructure is carried out on Sundays, days of lower traffic in the system, with the objective of mitigating the risks that these changes affect its good performance and impact Pix users. Thus, for the purposes of art. 4º, sole paragraph, of Decree No. 10.139, of November 28, 2019, the arguments described justify the entry into force of this Instruction Normative on October 29, 2023.

Since it is a normative act that aims to preserve the integrity of payment systems, as well as to reduce requirements, providing a reduction in regulatory cost by allowing a more rational use of technological resources, the preparation of a regulatory impact analysis (AIR) is waived, as provided for in art. 4º, item V, letter “c”, and item VII of Decree No. 10.411, of June 30, 2020.

Rogério Antônio Lucca
Head of the Department of Banking
Operations and Payment Systems