RegAlert2023-03-28 | Instrução Normativa BCB 365Added
Normative Instruction BCB No. 365 — Procedures for Submission of Adaptation Plan for Open Finance Participation Obligations and Non-Compliance Communication
Normative Instruction BCB No. 365 establishes the procedures for institutions participating in Open Finance to submit an adaptation plan to the Central Bank of Brazil when they cannot meet the obligations within the statutory deadline. The plan must detail the reasons for non-compliance and include a schedule for fulfilling the requirements, and it must be submitted via the Digital Protocol to the relevant supervisory department. Additionally, institutions are required to have their internal audit monitor the plan's execution and notify the Central Bank within two business days if compliance is not achieved.
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INSTRUCTION NORMATIVA BCB NO. 365, OF MARCH 28, 2023
Establishes the procedures for submission to the Central Bank of Brazil of an adaptation plan for the obligations for the exercise of the participation modalities in Open Finance and for communication in case of non-compliance.
The Heads of the Department of Supervision of Cooperatives and Non-Bank Institutions (Desuc) and of the Banking Supervision Department (Desup), in use of the attribution that confers them 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 § 6, art. 10-A, of Resolution BCB No. 32, of October 29, 2020,
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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
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