backNewsletter (#005/2025) on Fintechs, Banks, Financial Services, and Virtual Assets by Campos Thomaz Advogados
Alerts, materials, and updates on Fintechs, Banks, Financial Services, and Virtual Assets.
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Topics for 2025 – Stay tuned for upcoming newsletters
- Open Finance
- Virtual Assets
- Bank as a Service
- Tokeniization
- Artifical intelligence
Alerts
AI Ethics as a Service: Governance and Risk Assessment in Artificial Intelligence Systems
The ethical governance of artificial intelligence (AI) has been gaining increasing relevance in the Brazilian legal and regulatory landscape, especially with the progress of Bill No. 2338/2023 and the upcoming AI regulation in the European Union (AI Act). In this context, the AI Ethics as a Service model emerges as a strategic solution for organizations seeking to develop, procure, or use AI systems in a safe, responsible, and legally compliant manner. Learn more.
Central Bank Regulates Fee Limits for Interoperability Charges Between Registrars and Card Receivables
Resolution BCB No. 472, which takes effect on June 1, 2025, standardizes the interoperability events that may be charged and sets limits on the fees applied between registrars in operations involving card receivables. The measure aims to increase usage and reduce the cost of these credit operations, in line with the BC# Agenda – Competitiveness. Learn more.
BC approves issuance of LCI by finance companies
The Central Bank has approved Resolution No. 471, allowing finance companies (credit, financing, and investment institutions) to issue real estate credit bills (LCIs). Learn more.
Open Public Consultations – Contact Our Team
Central Bank
- 117/2025 | Draft Joint Resolution of CMN and the Central Bank on the Naming of Financial Institutions. Access here
Consultation end date: 05/31/2025
This public consultation submits a draft joint resolution of the National Monetary Council and the Central Bank of Brazil, which regulates the naming of institutions authorized to operate by the Central Bank of Brazil. -
118/2025 | Public Consultation on Regulation of Payment Arrangements within the Brazilian Payment System. Access here
Consultation deadline: June 2, 2025
Discloses information to enable a social participation mechanism, in the form of a public consultation, aiming to gather contributions for the regulation of payment arrangements that are part of the Brazilian Payment System (SPB) and their participation modalities. -
119/2025 | Draft Resolutions from the CMN and Central Bank on Accounting Criteria for Sustainability Assets and Liabilities. Access here
Consultation deadline: May 31, 2025
Submits for public consultation draft resolutions from the National Monetary Council and the Central Bank of Brazil that establish accounting criteria to be observed by financial institutions and other entities authorized to operate by the Central Bank of Brazil regarding the measurement, recognition, derecognition, and disclosure of sustainability-related assets and liabilities. - 120/2025 | Draft Resolutions of the CMN and Central Bank on the Process for Public Requests for Input. Access here
- Consultation deadline: June, 30, 2025
- Discloses a public participation initiative, in the form of a Public Request for Input, aiming to gather contributions and information to revise the Combined Balance Sheet of the Cooperative System, as regulated by Resolution No. 4,151 of October 30, 2012.
Regulatory Update
BCB Normative Instructions
Amendments to Normative Instructions
Normative Instruction BCB No. 612, April 25, 2025 – Amends Normative Instruction BCB No. 385, dated May 30, 2023 on accouting definitions for prudential regulation of financial institutions.
Procedures for Joining Pix
Normative Instruction BCB No. 613, April 30, 2025 – Amends Normative Instruction BCB No. 511, dated August 30, 2024, which establishes the procedures for joining Pix, to adjust provisions related to deadlines for Automatic Pix.
Operational Procedures for Automatic Pix, Scheduled Pix, and Pix Billing
Normative Instruction BCB No. 614, May 5, 2025 – Amends Normative Instruction BCB No. 513, dated August 30, 2024, which defines the operational procedures for Automatic Pix, Scheduled Pix, and Pix Billing, to include provisions related to instructions and payment orders within the scope of Automatic Pix.
Publication of Version 7.0 of the Open Finance API Manual
Normative Instruction BCB No. 615, May 6, 2025 – Publishes Version 7.0 of the Open Finance API Manual.
Guidelines and Conditions for Production Testing by Institutions
Normative Instruction BCB No. 616, May 6, 2025 – Establishes the guidelines and conditions for participating institutions to carry out production testing related to Automatic Pix under Open Finance.
Procedures for Submitting Information Related to the Calculation of Regulatory Limits and Standards
Normative Instruction BCB No. 617, May 6, 2025 – Amends Normative Instruction BCB No. 85, dated March 10, 2021, which defines procedures for submitting information related to the calculation of regulatory limits and standards as per Article 3 of BCB Resolution No. 69, dated February 10, 2021. It also modifies the layout and instructions for completing document code 2062 – Statement of Individual Operational Limits (DLI), as outlined in Instruction No. 85.
Definition of Accounting Entries in the Chart of Accounts for Regulated Institutions
Normative Instruction BCB No. 619, May 9, 2025 – Amends Normative Instructions BCB Nos. 426, 428, 429, 431, 432, and 433, all dated December 1, 2023, which define accounting entries in the Chart of Accounts for institutions regulated by the Central Bank of Brazil (Cosif).
Consolidation of Instructions on the Use of the Document Submission Control System – CRD
Normative Instruction BCB No. 620, May 9, 2025 – Consolidates instructions on the use of the Document Submission Control System (CRD).
Procedures for Submitting Information on Accrued Interest and Charges
Normative Instruction BCB No. 621, May 13, 2025 – Establishes procedures for the monthly submission of information to the Central Bank of Brazil on accrued interest and charges related to revolving credit card operations and installment plans, as provided in BCB Resolution No. 468, dated April 30, 2025.
Preparation and Submission of Periodic Information on Retail Payments and Service Channels
Normative Instruction BCB No. 622, May 15, 2025 – Amends the layout of Document 6209 for the preparation and submission of periodic information related to retail payments and service channels, as established in Normative Instruction No. 335, dated December 8, 2022.
BCB Resolutions
Rules and Criteria for the Leave of Civil Servants in the Specialist Career
Resolution BCB No. 464, April 29, 2025 – Establishes rules and criteria for the leave of civil servants in the Specialist Career of the Central Bank of Brazil to serve in international organizations in which Brazil participates or with which it cooperates.
On Expenses to Be Executed
Resolution BCB No. 465, April 29, 2025 – Regulates expenses related to the granting of travel allowances and tickets, as well as the organization of events.
On Authorization for the Establishment of Bank Branches in Brazil and the Provision of Information
Resolution BCB No. 466, April 30, 2025 – Amends Resolution BCB No. 3, dated August 12, 2020, which regulates information and procedures for authorizing the establishment of bank branches in Brazil and for providing information regarding branches of financial institutions and other entities authorized to operate by the Central Bank of Brazil.
Rules for the Boleto Payment Arrangement, Types of Boleto Instruments, Their Issuance and Presentation
Resolution BCB No. 467, April 30, 2025 – Amends Resolution BCB No. 443, dated December 12, 2024, which regulates the boleto payment arrangement, the types of boleto instruments, their issuance, presentation methods, and the settlement of associated fund transfers.
Rules for the Collection and Submission of Information on Accrued Interest and Charges
Resolution BCB No. 468, April 30, 2025– Regulates the collection and submission of data on accrued interest and charges from revolving credit card operations and installment plans related to credit cards and other postpaid payment instruments.
Permission for the Use of Clearinghouses and Service Providers
BCB Resolution No. 469, dated April 30, 2025 – Amends the regulation attached to BCB Resolution No. 304, dated March 20, 2023, with the purpose of allowing clearinghouses and providers of clearing and settlement services to accept collateral posted abroad by resident investors.
Rules for Calculating the Daily Value of Risk-Weighted Asset Portions
Resolution BCB No. 470, April 30, 2025 – Establishes procedures for the standardized calculation of the daily value of the risk-weighted asset (RWA) portion related to market risk sensitivities – RWASENS, and amends Resolutions BCB Nos. 200 (March 11, 2022), 111 (July 6, 2021), 265 (November 25, 2022), and 313 (April 26, 2023).
Conditions for Issuing Real Estate Credit Bills (LCI)
Resolution BCB No. 471, May 8, 2025 – Amends Circular No. 3,614, dated November 14, 2012, which regulates the conditions for issuing Real Estate Credit Bills (LCI).
Standardization of Interoperability Events Subject to Fees Between Receivables Registrars
Resolution BCB No. 472, May 8, 2025 – Regulates the standardization of interoperability events subject to fees between receivables registrars for payment arrangements and sets maximum fee limits and charging methods.
Operational Changes in the Execution of Market Instruments
Resolution BCB No. 473, May 20, 2025 – Amends Resolution BCB No. 76 (February 23, 2021) and Resolution BCB No. 350 (November 8, 2023) to reflect operational changes in the Central Bank of Brazil’s execution of market instruments in the Brazilian foreign exchange market.
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Produced by Alan Campos Thomaz and Stephanie Pintor do Vale Correia.
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