Instruction Normative BCB No. 703 — Amends Instruction Normative BCB No. 511 of August 30, 2024, to include provisions on proof of share capital and net worth and adjust the value recovery test

INSTRUCTION NORMATIVE BCB NO. 703, OF January 28, 2026

Amends Instruction Normative BCB No. 511, of August 30, 2024, which establishes the procedures necessary for adherence to Pix, to include provisions regarding proof of share capital and net worth, and to adjust a provision regarding the value recovery test.

The Head of the Department of Competition and Financial Market Structure (Decem), using the attribution conferred by him 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, based on art. 94, item IX, of the aforementioned Regulations, and taking into account the provisions of art. 25-A, § 5º, of the Regulation annexed to Resolution BCB No. 1, of August 12, 2020,

RESOLVES:

Art. 1º Instruction Normative BCB No. 511, of August 30, 2024, published in the Official Gazette of the Union on September 4, 2024, shall enter into force with the following alterations:

“Art. 14-A. Institutions that intend to act in the modality of transactional account provider, except credit cooperatives, and that do not observe the minimum limits of paid-up share capital and net worth referred to in art. 3º-A of Resolution BCB No. 1, of August 12, 2020, shall have their request denied in the registration stage.

Sole paragraph. Proof of compliance with the limits referred to in the caput shall be made by sending information to the Central Bank of Brazil regarding paid-up share capital and net worth, as regulated by current regulations.” (NR)

“Art. 43-B. ..............................................................................................................................

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§ 1º Institutions in the process of adhering to Pix must successfully conclude the formal homologation tests referred to in the caput during the homologation stage, if they do not conclude this stage by January 29, 2026.

§ 2º It is optional for Pix participants and institutions in the process of adhering to Pix who complete the homologation stage by January 29, 2026 to perform the tests referred to in the caput.” (NR)

“Art. 98-B. Institutions in the onboarding process that have already been approved in the registration stage must comply with the provisions of art. 14-A by the end of the restricted operation stage.” (NR)

Art. 2º This Instruction Normative enters into force on the date of its publication.

RICARDO TEIXEIRA
LEITE MOURÃO

NOTE

Decree No. 10.411, of June 30, 2020, provides for the mandatory realization of 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 the other documents that integrate, detail, and complement it, does not constitute a regulatory act of coercive force, having, in truth, an eminently contractual nature. Thus, modifications made to the aforementioned regulation and to the other documents that integrate, detail, and complement it are not subject to the prior production of AIR.

RICARDO
TEIXEIRA LEITE MOURÃO