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

This instruction establishes the procedures for financial institutions to apply for direct participation in the Instant Payment System (SPI) and to open an Instant Payment (PI) Account, including mandatory technological and operational capability tests. It sets a maximum validation time limit of 34 seconds for instant payment orders and defines settlement limits of 40 seconds for the Primary Message Transmission Channel and 45 minutes for the Secondary Message Transmission Channel. The regulation also outlines the specific processes for changing participation modalities from indirect to direct, or vice versa, and revokes several prior circulars and instructions.

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NORMATIVE INSTRUCTION BCB NO. 243, OF MARCH 16, 2022

Discloses procedures to be observed for direct participation in the Instant Payment System (SPI), for the opening of the Instant Payment Account (PI Account), and defines the maximum time limits for validation and for settlement of payment orders, as provided in the Regulation attached to BCB Resolution No. 195, of March 3, 2022.

The Head of the Department of Banking Operations and Payment Systems (Deban), using 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, attached to Ordinance No. 84.287, of February 27, 2015, and taking into account the provisions of the Regulation attached to BCB Resolution No. 195, of March 3, 2022,

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Lineage: Amended

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

Timeline

Amended 5 times · last 2024-10-04

2024-10-04BCBNormative Instruction BCB No. 529 of October 4, 2024amends
2023-12-15BCBInstruction Normative BCB No. 439 — Amends Instruction Normative BCB No. 243 Regarding Direct Participation in the Instant Payment System (SPI)amends
2023-05-16BCBBCB Instruction No. 382 of May 16, 2023 — Amends BCB Instruction No. 243 Regarding Direct Participation in the Instant Payment System (SPI) and Account Opening Proceduresamends
2023-04-10BCBInstruction Normative BCB No. 370 of April 10, 2023amends
2023-02-15BCBNormative Instruction BCB No. 350 of February 15, 2023amends

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