Normative Instruction BCB No. 358 — Establishes Procedures for Submitting Requests for Exemption from Mandatory Open Finance Participation to the Central Bank of Brazil

NORMATIVE INSTRUCTION
BCB NO. 358, OF MARCH 2, 2023

Establishes the procedures for submission to the Central Bank of Brazil of requests for exemption from mandatory participation in Open Finance.

The Heads of the Department of Supervision of Cooperatives and Non-Banking Institutions (Desuc) and the Department of Banking Supervision (Desup), using the authority granted to them by Art. 23, item I, letter "a" of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 84,287, of February 27, 2015, and based on Art. 3 of Resolution BCB No. 295, of February 23, 2023,

R E S O L V E:

Art. 1. Institutions holding accounts classified under Art. 1 of Resolution BCB No.
295, of February 23, 2023, that are registered in the Directory of Participants of the Structure Responsible for the Governance of Open Finance, if they choose to exercise the right to exemption from mandatory participation in Open Finance, must request the Structure to exclude their activity in the role of payment.

Art. 2. Institutions holding accounts that wish to submit requests for exemption regarding the scenarios covered by Art. 2 of Resolution BCB No. 295, of 2023, must follow the procedures described in this Normative Instruction.

Art. 3. For the purpose of submitting a request for exemption from mandatory participation in Open Finance, the institutions referred to in Art. 2 must send, via the Digital Protocol:

I - the form contained in Annex I of this Normative Instruction, if the request for exemption relates to Art. 2, item I, of Resolution BCB No. 295, of 2023; or

II - the form contained in Annex II of this Normative Instruction, if the request for exemption relates to Art. 2, item II, of Resolution BCB No. 295, of 2023.

Art. 4. The model forms for instructing processes regarding matters governed by this Normative Instruction will be made available on the website of the Central Bank of Brazil on the internet.

Art. 5. The forms containing the information referred to in Art. 3 of this Normative Instruction must be signed by the Responsible Director for Open Finance.

Art. 6. During the analysis process of the request, the Central Bank of Brazil may summon the controllers and administrators of the requesting institution to provide clarifications and additional information.

Art. 7. Until a decision is issued by this Autonomy, the Institution maintains its unchanged status of obligation regarding Open Finance.

Art. 8. This Normative Instruction enters into force on April 1, 2023.

                    Harold Paquete Espínola Filho                                         Belline Santana Head of the Department of Supervision of                    Head of the Department of Cooperatives and Non-Banking Institutions               Banking Supervision

ANNEX I

FORM RELATIVE TO
REQUEST FOR EXEMPTION FROM MANDATORY PARTICIPATION IN THE CASE WHERE THE INSTITUTION OFFERS FREE-FLOW ACCOUNTS ONLY TO A SPECIFIC AND LIMITED SET OF NATURAL PERSON CLIENTS (RESOLUTION BCB NO. 295, OF 2023, ART. 2, ITEM I)

OPEN FINANCE – REQUEST FOR EXEMPTION FROM MANDATORY PARTICIPATION
**A.**Information about the interested institution
Name of the interested institution
CNPJ (Tax ID)
Contact phones related to this request
E-mails related to this request
**B.**Information about the request for exemption from mandatory participation in Open Finance
1. Brief description of the institution's business model, addressing the justification for the exemption request and the way of interaction with clients.
2. Detailing of all active accounts of the institution, regarding the specificity or limitation applicable to natural person clients.

ANNEX II

FORM RELATIVE TO
REQUEST FOR EXEMPTION FROM MANDATORY PARTICIPATION IN THE CASE WHERE THE INSTITUTION DOES NOT PROVIDE CLIENTS ACCESS TO ELECTRONIC CHANNELS FOR MOVING THEIR ACCOUNTS, EXCEPT IN CONTINGENCY SITUATIONS (RESOLUTION BCB NO. 295, OF 2023, ART. 2, ITEM II)

OPEN FINANCE – REQUEST FOR EXEMPTION FROM MANDATORY PARTICIPATION
**A.**Information about the interested institution
Name of the interested institution
CNPJ (Tax ID)
Contact phones related to this request
E-mails related to this request
**B.**Information about the request for exemption from mandatory participation in Open Finance
1. Brief description of the institution's business model, addressing the justification for the exemption request and the way of interaction with clients.
2. Survey of all active accounts of the institution, with details regarding the number of accounts eligible to perform transfers only by batch or file or to perform transfers via manual means in contingency regime and statistics of occurrences in the last 12 months.

NOTE

Supports proposal for issuance of normative instruction
that establishes procedures for submission to the Central Bank of Brazil of requests for exemption from mandatory participation
in Open Finance.

Gentlemen Heads of Desuc and Desup,

This Technical Note supports the proposal for the issuance of a normative instruction, which establishes the procedures for submitting a request for exemption from mandatory participation in Open Finance, in the scenarios covered by Resolution BCB No. 295, of February 23, 2023.

2.                The  
   

proposed normative act aims to establish the procedure for submitting requests for exemption from mandatory participation in Open Finance, as well as the documents and minimum information to be delivered by the interested institutions, in line with the aforementioned Resolution BCB No. 295, of 2023.

3.                In  
   

compliance with the provisions of Art. 5 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 federal administration, autonomous entities and foundations, as well as by collegiate bodies through the body or entity responsible for providing administrative support, must be preceded by Regulatory Impact Analysis (RIA).

4.                However,  
   

it should be noted that the Normative Instruction under analysis only establishes a procedure for submitting a request for exemption from mandatory participation in Open Finance, without creating new regulatory requirements for financial institutions and other institutions authorized to operate by the Central Bank of Brazil. In this sense, according to Art. 4, item III, of the aforementioned Decree, the normative act now proposed is exempt from the preparation of an RIA as it is considered low impact.

For your consideration.

Rodrigo Monteiro
Deputy Head of the Department of Supervision of Cooperatives and Non-Banking Institutions

Ricardo Seviere Zeni
Deputy Head of the Department of
Banking Supervision

Agreed.

Harold Paquete
Espínola Filho
Head of the Department of Supervision of
Cooperatives and Non-Banking Institutions

Belline Santana
Deputy Head of the Department of
Banking Supervision