Normative Instruction BCB No. 485 — Discloses the categorization of Open Finance participating institutions and the net asset value ranges for calculating contributions to the Open Finance Governance Structure funding

NORMATIVE INSTRUCTION BCB NO. 485, OF JULY 4, 2024

Discloses the categorization of Open Finance participating institutions and the net asset value ranges that must be used in the calculation of the contribution for the funding of the Open Finance Governance Structure.

The Head of the Financial System Regulation Department (Denor), in the exercise of the powers conferred by Article 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, having regard to the provisions of Article 44, §1, of Joint Resolution No. 1, of May 4, 2020, and of Resolution BCB No. 400, of July 4, 2024,

R E S O L V E:

Article 1
This Normative Instruction discloses the categorization of Open Finance participating institutions and the net asset value ranges used in the calculation of the contribution for the funding of the Open Finance Governance Structure.

Article 2
The number of votes to which each participating institution will be entitled in the governance body, referred to in Article 6 of Resolution BCB No. 400, of 2024, shall be determined according to its classification into the net asset value ranges disclosed in Annex I to this Normative Instruction.

Sole Paragraph. In the case of Open Finance participating institutions that are part of a prudential conglomerate or a cooperative system, the definition referred to in the caput must consider the respective prudential conglomerate or cooperative system.

Article 3
The representatives of the categories that make up the senior management body must be designated by the representative entities of the Open Finance participating institutions categorized in the manner of Annex II to this Normative Instruction, in observance of the provisions of Article 8, § 2, of Resolution BCB No. 400, of 2024.

Article 4
Open Finance participating institutions must inform the Open Finance Governance Structure of only one category of the senior management body among those listed in Annex II to this Normative Instruction by which they wish to be represented.

Sole Paragraph. In the case of Open Finance participating institutions that are part of a prudential conglomerate, the classification referred to in the caput must correspond to that of the lead institution of the respective prudential conglomerate.

Article 5
The calculation of the contribution based on the size of the Open Finance participating institutions, referred to in Article 14 of Resolution BCB No. 400, of 2024, shall:

I - be carried out monthly, on a date fixed by the Open Finance Governance Structure and communicated to the participating institutions; and

II - observe the contribution percentages on the total expense for the net asset value ranges indicated in Annex I to this Normative Instruction.

§ 1º For the purposes of classifying participating institutions into the net asset value ranges referred to in item II of the caput, the net asset value of the last disclosed balance sheet in which it was positive must be considered.

§ 2º In the event of entry or exit of institutions in Open Finance, in accordance with current regulations, of changes in the net asset value of Open Finance participating institutions, or of any other change in the composition of Open Finance participating institutions, the contribution of the participating institutions must be calculated with an increase or decrease in percentage terms, as appropriate, in order to reach the amount necessary for the execution of the budget of the Open Finance Governance Structure.

Article 6
The contribution of Open Finance participating institutions that are part of a prudential conglomerate or a cooperative system must be made in a consolidated manner, considering the net asset value of the conglomerate or cooperative system.

Article 7
This Normative Instruction enters into force on the date of its publication.

GILNEU
FRANCISCO ASTOLFI VIVAN

ANNEX I TO NORMATIVE INSTRUCTION BCB NO. 485,
OF JULY 4, 2024

Net Asset Value Ranges (PL)	Contribution per institution/conglomerate (as % of Total Expense)
PL<=500,000	0.0010%
500,000<PL<=1,000,000	0.0020%
1,000,000<PL<=2,000,000	0.0040%
2,000,000<PL<=3,000,000	0.0050%
3,000,000<PL<=5,000,000	0.0100%
5,000,000<PL<=10,000,000	0.0150%
10,000,000<PL<=20,000,000	0.0200%
20,000,000<PL<=40,000,000	0.0250%
40,000,000<PL<=100,000,000	0.0300%
100,000,000<PL<=150,000,000	0.0400%
150,000,000<PL<=200,000,000	0.0600%
200,000,000<PL<=300,000,000	0.1000%
300,000,000<PL<=400,000,000	0.1500%
400,000,000<PL<=600,000,000	0.2000%
600,000,000<PL<=800,000,000	0.3000%
800,000,000<PL<=1,000,000,000	0.3500%
1,000,000,000<PL<=1,200,000,000	0.4000%
1,200,000,000<PL<=1,500,000,000	0.5000%
1,500,000,000<PL<=1,800,000,000	0.6000%
1,800,000,000<PL<=2,000,000,000	0.7000%
2,000,000,000<PL<=2,500,000,000	0.8000%
2,500,000,000<PL<=3,000,000,000	0.9000%
3,000,000,000<PL<=4,000,000,000	1.0000%
4,000,000,000<PL<=5,000,000,000	1.2000%
5,000,000,000<PL<=6,000,000,000	1.4000%
6,000,000,000<PL<=7,500,000,000	1.6000%
7,500,000,000<PL<=9,000,000,000	1.8000%
9,000,000,000<PL<=10,000,000,000	2.0000%
10,000,000,000<PL<=15,000,000,000	2.4000%
15,000,000,000<PL<=25,000,000,000	3.0000%
25,000,000,000<PL<=50,000,000,000	3.5000%
50,000,000,000<PL<=75,000,000,000	4.0000%
75,000,000,000<PL<=100,000,000,000	5.0000%
100,000,000,000<PL<=150,000,000,000	5.5000%
PL>150,000,000,000	7.0000%

ANNEX II TO NORMATIVE INSTRUCTION BCB NO. 485, OF JULY 4, 2024

Category	Representative Entity
Segments 1 (S1) and 2 (S2)	Brazilian Federation of Banks (Febraban)
Segments 3 (S3), 4 (S4) and 5 (S5), with the exception of credit cooperatives, payment institutions, direct credit societies (SCD) and peer-to-peer lending societies (SEP)	Brazilian Association of Banks (ABBC) and National Association of Credit, Financing and Investment Institutions (ACREFI)
Credit Cooperatives	Brazilian Cooperatives Organization (OCB)
Payment institutions acting as acquirers classified in S1 or S2 or controlled by institutions classified in S1 or S2	Brazilian Association of Credit Card and Services Companies (ABECS)
Payment institutions acting as acquirers that are not classified as S1 or S2	Brazilian Association of Payment Institutions (ABIPAG), Brazilian Internet Association (ABRANET) and Brazilian Chamber of the Digital Economy (Câmara-e.net)
Payment institutions initiating payment transactions	Association of Payment Transaction Initiators (INIT)
Payment institutions holding accounts	Zetta Fintechs Association (ZETTA)
SCD and SEP	Brazilian Digital Credit Association (ABCD) and Brazilian Fintechs Association (ABFintechs)

NOTE 416/2024-BCB/DENOR, OF JULY 3, 2024

Justifies the proposal for the issuance of a normative instruction that discloses the categorization of Open Finance participating institutions and the net asset value ranges that must be used in the calculation of the contribution for the funding of the Open Finance Governance Structure.

                        Head of  

Denor,

                        This Note justifies the proposal for the issuance of a normative instruction by the Financial System Regulation Department (Denor), in the exercise of the power provided for in Article 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 Article 44, §1, of Joint Resolution No. 1, of May 4, 2020, and Resolution BCB No. 400, of July 4, 2024,

2. Regarding this, the proposal
deals with the issuance of a normative instruction that discloses the categorization of Open Finance participating institutions and the ranges of net asset value that must be used in the calculation of the contribution for the funding of the Open Finance Governance Structure.

3.                     Finally, in compliance  
   

with the provisions of Article 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 federal direct, autarchic and foundation administration, as well as by collegial bodies through the body or entity responsible for providing administrative support, must be preceded by a Regulatory Impact Analysis (RIA).

4.                     However, as the  
   

proposal under consideration only discloses the categorization of the institutions participating in Open Finance and the net asset value ranges that must be used in the calculation of the contribution for the costing of the Open Finance Governance Structure, whose criteria were established in Resolution BCB No. 400, of July 4, 2024, I consider that the alterations proposed here fall within the possibility of exemption from conducting an RIA established in Article 4, item III, of Decree No. 10,411, of 2020, since it can be considered a low-impact normative act.

5.                     In turn, Article 9-A, § 2, of the aforementioned Decree No. 10,411, of 2020, establishes  
   

that in the event that the normative act is exempted for being considered low impact, the proposal for the normative act must be subject to public consultation or another type of social participation mechanism. In this regard, I clarify that the proposals were presented and discussed by the interested parties through bilateral or multilateral meetings with the representative associations of the Open Finance participating institutions. Thus, I understand that the requirement to adopt a mechanism to ensure social participation has been met.

                        For your consideration.

MARDILSON
FERNANDES QUEIROZ
Consultant of
Denor

                        Agreed.

GILNEU
FRANCISCO ASTOLFI VIVAN
Head of Denor