Instruction Normative BCB No. 509 — Establishes guidelines, conditions, and deadlines for production testing by participating institutions, the control point schedule for publishing API version 2.0.0 in production, and the validity period of consent for payment transaction initiation service without redirection in Open Finance

Resolution No. 222

INSTRUCTION NORMATIVE
BCB No. 509, OF AUGUST 30, 2024

Establishes the guidelines, conditions, and deadlines for conducting production tests by participating institutions, the schedule of control points for the process of publishing version 2.0.0 (or later) of the application programming interface (API) in production, and the validity period of consent regarding the sharing of the payment transaction initiation service without redirection in Open Finance.

The Heads of the Department of Financial System Regulation (Denor), the Department of Supervision of Cooperatives and Non-Bank Institutions (Desuc), and the Department of Banking Supervision (Desup), in the exercise of the powers conferred upon them by art. 23, item I, letter "a", of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, having in view the provisions of art. 44, § 1º, of Joint Resolution No. 1, of May 4, 2020, and art. 7 of Resolution BCB No. 406, of August 2, 2024,

R E S O L V E:

Art. 1º This Instruction Normative establishes the guidelines, conditions, and deadlines for conducting production tests by participating institutions, the schedule of control points for the process of publishing version 2.0.0 (or later) of the application programming interface (API) in production, and the validity period of consent regarding the sharing of the payment transaction initiation service without redirection in Open Finance.

Art. 2º The sharing of the payment transaction initiation service without redirection in Open Finance must be implemented, in an obligatory manner, by account-holding institutions belonging to the conglomerates and cooperative systems listed in Annex I of this Instruction Normative, within the following deadlines:

I - from November 14, 2024, on a limited basis for production testing; and

II - from February 28, 2025, for the general public.

Art. 3º Production tests, during the period referred to in Art. 2, item I, regarding the sharing of the payment transaction initiation service without redirection in Open Finance, must:

I - be conducted by participating institutions that will implement the service, regardless of whether participation is mandatory or optional;

II - be conducted using the production validation tool developed by the Open Finance Governance Structure and between the participating institutions that will implement the service;

III - be restricted to a pre-selected client base jointly chosen by the account-holding institution and the payment transaction initiating institution, plus a list of clients provided by the Open Finance Governance Structure and a list of clients provided by the Central Bank of Brazil; and

IV - cover the functionalities of the API and customer experience journeys as specified by current regulation and by the documentation of the Open Finance Governance Structure.

§ 1º In the case of payment transaction initiating institutions, the tests must be conducted by institutions that offer the service based on bilateral contracts or that will offer the service to the general public starting February 28, 2025.

§ 2º The Central Bank of Brazil may, at its discretion, determine the conduct of tests between pairs of account-holding institutions and payment transaction initiating institutions.

§ 3º The Open Finance Governance Structure must detail the scope of the tests, including the conditions to be observed.

§ 4º The detailing referred to in § 3º must be submitted to the Central Bank of Brazil for approval by October 14, 2024.

Art. 4º Participating institutions must demonstrate to the Central Bank of Brazil the adherence of customer experience journeys in the account linking and payment transaction stages to current regulation and to the documents of the Open Finance Governance Structure.

Sole Paragraph. The demonstration of adherence referred to in the caput:

I - may be carried out through verification operationalized by the Open Finance Governance Structure; and

II - must be submitted to the Central Bank of Brazil by December 16, 2024.

Art. 5º Institutions that implemented the sharing service of the payment transaction initiation service without redirection based on bilateral contracts are exempt from the obligation to observe the conditions defined in Art. 3º in payment transactions carried out based on these contracts.

Art. 6º Account-holding institutions belonging to the conglomerates and cooperative systems that will implement the payment transaction initiation service without redirection in an obligatory manner must follow the control points of the process of publishing version 2.0.0 (or later) of the API of this service, whose specifications are found on the Open Finance portal, according to the following schedule:

I - on the date of publication of this Instruction Normative: success in the test modules that make up the Test Framework A;

II - September 13, 2024: deadline for executing tests in the compliance engine and achieving success in at least 60% (sixty percent) of the test modules;

III - October 11, 2024: deadline for executing tests in the compliance engine and achieving success in 100% (one hundred percent) of the test modules;

IV - November 11, 2024: deadline for requesting functional certification; and

V - November 13, 2024: deadline for certification and publication of the API in the Open Finance Participants Directory and for making the payment transaction initiation service without redirection available, according to the criteria established in this Instruction Normative.

Sole Paragraph. For the calculation of success:

I - specific test modules may be disregarded on a given deadline, at the discretion of the Open Finance Governance Structure; and

II - the results obtained with the most recent version of the engine available on the date of execution will be considered, which may be based on the previous stable version of the API (1.3.1), a beta version, a release candidate version, or a stable version of the specifications.

Art. 7º The Open Finance Governance Structure may, based on the monitoring of the execution of the tests referred to in Art. 6º, with the objective of obtaining timely maturity of the compliance engines, publish an informational notice requesting prioritization of specific tests.

§ 1º The prioritization referred to in the caput may relate to test modules:

I - that the institution must execute by the next deadline established for test execution;

II - in which the institution must achieve success by the next deadline established for test execution;

III - that must be re-executed within two business days, regardless of the previous development stage and success of each institution; and

IV - in which the institution must achieve success within five business days, regardless of the deadlines established for test execution.

§ 2º Regarding the deadlines referred to in § 1º, items II and IV, cases of impossibility of achieving success on the demanded date must be registered in the Service Desk of the Open Finance Governance Structure according to guidelines to be issued by it.

Art. 8º The standard validity period of the consent referred to in Art. 3º of Resolution BCB No. 406, of August 2, 2024, must be five years.

Sole Paragraph. The account-holding institution must allow the client to change the standard period referred to in the caput to indefinite or to shorter periods.

Art. 9º This Instruction Normative enters into force on the date of its publication.

GILNEU FRANCISCO ASTOLFI VIVAN ADALBERTO FELINTO DA CRUZ JUNIOR Head of Denor Head of Desuc

BELLINE
SANTANA
Head of Desup

ANNEX I TO INSTRUCTION NORMATIVE BCB No.
509, OF AUGUST 30, 2024

The conglomerates and the cooperative systems whose account-holding institutions must implement the sharing of the payment transaction initiation service without redirection in Open Finance are the following:

I - Banco do Brasil;

II - Bradesco;

III - BTG
Pactual;

IV - C6;

V - Caixa Econômica
Federal;

VI - Inter;

VII - Itaú;

VIII - Mercado Pago;

IX - Nu Pagamentos;

X - Original;

XI - Pagseguro;

XII - Santander; and

XIII - Sicredi.

NOTE
574/2024-BCB/DENOR, OF August 29, 2024

Justifies proposal for the issuance of an instruction normative that establishes the guidelines, conditions, and deadlines for conducting production tests by participating institutions, the schedule of control points for the process of publishing version 2.0.0 (or later) of the application programming interface (API) in production, and the validity period of consent of the account linking stage regarding the sharing of the payment transaction initiation service without redirection in Open Finance.

Dear Head of Denor,

This Note justifies a proposal for the issuance of an instruction normative by the Department of Financial System Regulation (Denor), the Department of Supervision of Cooperatives and Non-Bank Institutions (Desuc), and the Department of Banking Supervision (Desup), in the exercise of the power provided for in art. 23, item I, letter "a", of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, based on art. 44, §1º, of Joint Resolution No. 1, of May 4, 2020, and Resolution BCB No. 406, of August 2, 2024,

2.           Regarding this,  
   

the proposal concerns the issuance of an instruction normative that establishes the guidelines, conditions, and deadlines for conducting production tests by participating institutions, the schedule of control points for the process of publishing version 2.0.0 (or later) of the application programming interface (API) in production, and the validity period of consent of the account linking stage regarding the sharing of the payment transaction initiation service without redirection in Open Finance.

3.           The proposal  
   

for the instruction normative also presents the schedule of control points for the process of publishing version 2.0.0 (or later) of the API of the payment transaction initiation service without redirection that must be followed by account-holding institutions that have an obligation to implement the service.

4.           Finally, in  
   

compliance with the provisions of art. 5º of Law No. 13.874, of September 20, 2019, Decree No. 10.411, of June 30, 2020, determines that proposals for normative acts of general interest to economic agents formulated by bodies and entities of the direct, autarchic, and foundational federal public administration, as well as by collegiate bodies through the body or entity responsible for providing them with administrative support, must be preceded by a Regulatory Impact Analysis (RIA).

5.           However,  
   

as the proposal in question only details the production tests to be conducted in a production environment, the schedule of control points for the publication of the API, the consent period for the account linking stage, and the disclosure of the conglomerates that will implement the service, whose criteria were established in Resolution BCB No. 406, of August 2, 2024, I consider that such a proposal falls under the possibility of exemption from RIA established in art. 4º, item III, of Decree No. 10.411, of 2020, as it can be considered a low-impact normative act.

6.           In turn, art. 9º-A, § 2º, of the aforementioned Decree No. 10.411, of 2020, establishes that in the case of exemption because the normative act is considered low-impact, the proposal for the normative act must be subject to public consultation or another type of social participation mechanism. In this regard, I clarify that the proposals were presented and discussed by interested parties through bilateral and multilateral meetings with the associations representing the institutions participating in *Open Finance*. Thus, I understand that the requirement to adopt a mechanism to ensure social participation has been met.
   

For your consideration.

MARDILSON FERNANDES QUEIROZ
Consultant of Denor

RICARDO SIVIERI ZENI
Deputy Head of Desup

IVENS ARUA NEVES DE MIRANDA
Deputy Head of Desuc

Agreed.

GILNEU FRANCISCO ASTOLFI VIVAN
Head of Denor

BELLINE SANTANA
Head of Desup

ADALBERTO FELINTO DA CRUZ JUNIOR
Head of Desuc