Normative Instruction BCB No. 336 — Amends Normative Instruction BCB No. 123 of 2021 to establish deadlines for sending documents with data on new sources of amounts to be refunded, and adopts other measures

BCB NORMATIVE INSTRUCTION NO. 336, OF DECEMBER 8, 2022

Amends the BCB Normative Instruction No. 123, of 2021, to establish deadlines for sending documents with data on new sources of amounts to be refunded, and adopts other measures.

The
Acting Head of the Institutional Service Department, in the exercise of the powers conferred upon him by arts. 23, item I, letter "a", and 120, item IV, of the Internal Regulations of the Central Bank of Brazil, annexed to Portaria No. 84,287, of February 27, 2015, based on art. 6 of BCB Resolution No. 98, of June 1, 2021,

R E S O L V E :

Art.
1º The BCB Normative Instruction No. 123, of
July 8, 2021, shall be amended as follows:

“Art. 1º ...........................................................................................................

I

• ......................................................................................................................

a) to the amounts to be refunded referred to in art. 3º, items I, II, III, IV, V, VI, VII and VIII, of BCB Resolution No. 98, of June 1, 2021; and

..................................................................................................................” (NR)

“Art. 2º ...........................................................................................................

I

• ......................................................................................................................

c) source of the amount to be refunded, as per art. 3º, items I, II, III, IV, V, VI and VIII, of BCB Resolution No. 98, of 2021; and

II

• .....................................................................................................................

b) source of the amount, as per art. 3º, items I, II, III, IV, V, VI, VII and VIII, of BCB Resolution No. 98, of 2021; and

.........................................................................................................................

§ 2º .................................................................................................................

I

• ......................................................................................................................

b)
IV and V, specifically regarding information on amounts to be refunded provided for in Commitment Terms entered into with the Central Bank of Brazil, under BCB Resolution No. 131, of August 20, 2021, whether in force or not, regarding the improper collection of fees and installments or obligations related to credit operations: September 2021;

c) IV and V, regarding information on amounts to be refunded not provided for in Commitment Terms entered into with the Banco Central do Brasil, under BCB Resolution No. 131, of 2021, regarding the improper collection of fees and installments or obligations related to credit operations: February 2022; and

d) II, III and VIII: December 2022.

II - .....................................................................................................................

b) IV and V, specifically regarding information on amounts refunded provided for in Commitment Terms entered into with the Banco Central do Brasil, under BCB Resolution No. 131, of 2021, whether in force or not, regarding the improper collection of fees and installments or obligations related to credit operations: October 2021;

c) IV and V, regarding information on amounts refunded not provided for in Commitment Terms entered into with the Banco Central do Brasil, under BCB Resolution No. 131, of 2021, regarding the improper collection of fees and installments or obligations related to credit operations: March 2022; and

d) II, III and VIII: January 2023.” (NR)

Art.
2º Annex II of BCB Normative Instruction No.
123, of 2021, shall be amended as follows:

“Art. 2º The
Central Bank of Brazil will make available to adhering institutions the Pix keys selected by users in the Amounts to be Received Information System (SVR), solely for the purpose of facilitating the refund of amounts belonging to these users.

§ 1º In the case of adhering institutions that are indirect participants of the Instant Payment System (SPI), the Central Bank of Brazil will forward the following attributes of the Pix keys selected by users in the SVR:

..................................................................................................................” (NR)

“Art. 3º The
Central Bank of Brazil will make available to adhering institutions contact data indicated by users in the SVR, subject to the provisions of art. 2º, § 2º, of this Annex, provided that the user has selected, in the SVR, one of their Pix keys.” (NR)

“Art 5º The adhering institutions have up to 12 (twelve) business days, counted from the date of the refund request in the SVR, to effect the refund of amounts.

..................................................................................................................” (NR)

“Art. 6º ...........................................................................................................

II - agree on the method and deadline for effecting the refund, informing the user of the necessary procedures for payment, in cases where the refund cannot be made via credit to the transactional account to which the Pix key is linked.” (NR)

“Art. 9º ............................................................................................................

§ 1º The exclusion referred to in the caput cannot be performed with retroactive effect and will take effect within 5 (five) business days, counted from the date of the request.

..................................................................................................................” (NR)

Art.
3º This Normative Instruction enters into force on the date of its publication.

Denis Muniz da Silva
Carvalho

NOTE

The
BCB Resolution No. 98, of June 1, 2021, provides for the Amounts to be Received Information System (SVR) and for the submission to the Central Bank of Brazil (BCB), by financial institutions and other institutions authorized to operate by the BCB, of information relating to amounts to be refunded to natural and legal persons, in the periodicity defined in the normative act.

2. In the scope of the regulatory competence provided for in art. 6 of this Resolution, the BCB issued the Normative Instruction (NI) No. 123, of July 8, 2021, which establishes procedures for the submission of the aforementioned information and provides for the optional adherence to the conditions for the consensual refund of amounts.

3. NI No. 123, of 2021, establishes the obligation to send only the information provided for in art. 3º, items I, IV, V and VI, of BCB Resolution No. 98, of 2021. In this sense, the present NI amends NI No. 123, of 2021, to establish that financial institutions and other institutions authorized to operate by the BCB shall begin to send, from defined dates, also the information provided for in the remaining items of art. 3 of BCB Resolution No. 98, of 2021, namely: II - prepaid and postpaid payment accounts closed with available balance; III - registration accounts maintained by securities brokerage and distribution companies for registration of closed client operations with available balance; and VIII - other situations giving rise to amounts to be refunded recognized by the institutions.

4. Furthermore, the present NI modifies the amount request process provided for in NI No. 123, of 2021, which allows the user to request the redemption of amounts via SVR by selecting 1 (one) of their Pix keys registered with any Payment Service Provider (PSP), indicating their personal contact data (phone and email), or both. To increase the effectiveness of the refund process, the selection of 1 (one) Pix key by the user who wishes to request the redemption of amounts directly via the system becomes mandatory (the indication of contact data will be optional for users who make such Pix key selection). This change arises from reports from supervised entities regarding the difficulty of refunding resources to some users who only indicated contact data, i.e., did not select the Pix key, and who did not respond to contact attempts by these institutions, during the first phase of the SVR (from February to April 2022). For the record, it is worth noting that the option for the user to contact the debtor entity through the channels provided in the system remains preserved, in case they do not have a Pix key or do not wish to select one, or in case the entity has not adhered to the Term referred to in Annex II of NI No. 123, of 2021.

5. Decree No. 10,411, of June 30, 2020, regulated the conduct of a regulatory impact analysis (RIA) as a prerequisite for the issuance of a normative act. However, in its article 4º, the aforementioned Decree establishes the hypotheses for dispensing with the conduct of an RIA. The present NI falls under the hypotheses provided for in items II and III of this article, since the additions of new sources of amounts to be refunded are already provided for in BCB Resolution No. 98, of 2021, a norm of hierarchically superior rank, and the adjustments in the refund process result in low impact for economic agents and regulated entities, as they are operational changes to make the refund process more effective and given that the option for the user to contact the entity responsible for the refund of amounts is preserved.

6. Thus, based on items II and III of art. 4 of Decree No. 10,411, of 2020, I understand that the issuance of the present BCB NI is exempt from the conduct of an RIA.