Instruction Normative BCB No. 370 of April 10, 2023

This regulation amends Article 19 of Instruction Normative BCB No. 243 to establish maximum settlement time limits for instant payment orders in the Instant Payments System (SPI). Specifically, it sets a limit of 40 seconds for orders posted on the Primary Message Transmission Channel and 45 minutes for orders posted on the Secondary Message Transmission Channel. These changes take effect on October 29, 2023, to accommodate the new secondary channel used for payments without immediate settlement expectations, such as scheduled Pix transactions.

BCB published 15 documents in the last 30 days — get each new one by email the day it lands.

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.

Read the rest free, and get an email when BCB publishes again

Email me when BCB publishes something newOne email per publication, same day. Sign in below to keep reading.

Lineage: In force

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Timeline

This document amends: Normative Instruction BCB No. 243 — Procedures for Direct Participation in the Instant Payment System (SPI), Instant Payment Account (PI Account) Opening, and Maximum Time Limits for Validation and Settlement

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works