On Nov. 19, 2025, BRZ CB issued Resolution 524 to amend Resolution 195, of 2022.
Access to SPI participants to SPI module of SPB-Web for consultation of data and registration re operational parameters in SPI and the management of their IP Account.
Promoted proper management of IP Account, 24 hours a day, every day of the year.
Resolution 524 shall come into force on Dec. 1, 2025.
On Feb. 15, BRZ CB made changes to certain payment operations.
BRZ CB amended instant payments system (SPI) and payments account operation.
Issued Instruction 350 to amend provisions of Instruction 243 of Mar. 16, 2022, which discloses procedures to be observed for direct participation in the payment system.
Also for opening Instant payments account (PI Account); set time limits for validation and settlement of instant payment orders per Resolution 195, of Mar. 2022, #131014.
Amendment Highlights
Instruction 243 was amended to provide that from the confirmation of the beginning of the process, by Deban, the applicant must complete the proof tests and forward to Deban the declaration of aptitude to operate in the SPI production environment.
It must do so according to the model presented in the Roadmap, within 5 months.
Extension of 5-month period will be automatic, if extension of period for completing approval stage of process of joining the Pix is granted, pursuant to Decem regulations.
The closure of the process of joining the Pix arrangement implies closing the process for requesting direct participation in the SPI and opening a PI Account.
Applicant must provide for registration of director or officer responsible for matters related to the SPI in BRZ CB's Information System on Entities of Interest (Unicad).
The applicant must inform Decem, at least three business days in advance, of the date and time scheduled for the start of operations in the SPI production environment.
Repeals Articles 12 and 14 of normative Instruction 243 of 2022.
Effectiveness
Instruction 350 comes into force on Mar. 1, 2023.
Mar. 2023 BRZ CB Payment Settlement, Encumbrances
On Mar. 20, 2023, BRZ CB issued Resolution 304 on settlement systems operations.
Also, centralized deposit of financial assets and encumbrances on deposited assets.
Applies to financial market system operating institutions (IOSMFs) whose financial market systems (SMF) or whose activity is under the supervision of the BRZ CB.
Resolution includes provision on applying for authorization to operate in system.
IOSMFs are subject to the specified corporate governance requirements in Res 304.
Also, they must have a risk management program, including procedures to identify, monitor and manage its general business risk, ensure continuity of operations.
Sets out disclosure, operational procedures, and market data obligations for them.
Resolution 304 repeals numerous prior resolutions; enters into force on May 2, 2023.
Apr. 2023 BRZ CB Instant Payment System (SPI)
On Apr. 10, 2023, BRZ CB issued Instruction 370 to amend Instruction 243, of Mar. 16, 2022, which discloses procedures to be observed for direct participation in the SPI.
Specifically, procedures for opening Instant Payment Account (PI Account) and defines the maximum limits of time for validation and settlement of instant payment orders.
The maximum time limit for settlement, dealt with in Art. 42 of Ins 243 is 40 (forty) seconds for orders posted on the Primary message transmission channel.
45 (forty-five) minutes for orders posted on Secondary message transmission channel.
Instruction 370 comes into force on Oct. 29, 2023.
May 16, 2023 BRZ CB Amendments
On May 16, 2023, BRZ CB issued Instruction 382 to amend Instruction 243 of 2022.
Instruction 243 governed procedures for direct participation in the Instant payment system (SPI) and for opening an Instant payment account (PI Account).
It also defined maximum limits of time for validation and settlement of payment orders
Instruction 382 provides what an applicant must do up to the business day prior to the scheduled date for the start of operations in the SPI production environment.
Applicant must send the digital certificates, according to specifications in SFN Network Manual, Communication Interfaces Manual, SFN Security Manual, Pix Security Manual.
Must test connectivity by sending PIBR.001 message and receiving PIBR.002 from SPI.
Mon-compliance with the deadline implies cancellation of the procedure for starting operations in the SPI production environment and requires new operations start date.
Procedures for change modality/type of SPI participation from indirect to direct.
Instruction 382 comes into force on Jun. 1, 2023.
May 18, 2023 BRZ CB Pix Updates
On May 18, 2023, BRZ CB issued Instruction 384 informing on version 5.1 of the Pix times manual, and BRZInstruction 383 to amend Instruction 32 of Oct. 26, 2020.
Ins 32 established format, frequency and information provided by Pix participants.
Instruction 383 specifies information that must be reported periodically by Pix participants; Instruction 383 comes into effect on February 1, 2024.
Instruction 384 revokes Instruction 369/2023, and comes into force on Jan. 1, 2024.
In Jun. 2023, BRZ CB issuedInstruction 397, amending 103/2021, see #177893.
Dec. 2023 BRZ CB Procedures Update
On Dec. 15, 2023, BRZ BRZ Instruction 439 to amend Instructions 243 of Mar. 2022.
Instruction 243 governs procedures for direct participation in the Instant payment system (SPI) as well as for opening the Instant payments account (PI Account).
It also defines maximum time limits for settlement of instant payment orders.
Added to Article 15 of Instruction 243 a provision to test connectivity on the primary message transmission channel, as defined in the Communication interfaces manual.
Instruction 429 comes into force on Jan. 2, 2024.
Oct. 4, 2024 BRZ CB Contact Telephone
On Oct. 4, 2024, BRZ CB published Instruction 529 to amend Instruction 243, of 2022.
Clarified that BRZ CB may share contact telephone numbers of those responsible for managing the PI Account of a direct SPI participant with other direct participants.
Measure meets need for bilateral communications between parties to deal with issues.
Instruction 529 shall come into force on Oct. 14, 2024.
Dec. 20, 2024 BRZ CB Payment Services
On Dec. 20, 2024, BRZ CB issued Instruction 569 to amend Instruction 103, of 2021.
This Instruction establishes instructions required for the request for authorization to extinguish the audit committee referred to in Art. 16, of Resolution 130, of Aug. 2021.
Promotes regulatory consolidation recommended by Art. 67 of Decree 12.002, of Apr. 22, 2024, and adds and amends provisions in Instruction 103, of Apr. 30, 2021.
Art. 4 of Decree 10.411 established cases in which the performance of RIA is waived.
Instruction 569 comes into force on the date of its publication.
Apr. 30, 2025 BRZ CB Collateral Contribution
On Apr. 30, 2025, BRZ CB issued Resolution 469 to amend Annex of Resolution 304.
Amendments with the aim of allowing clearing and settlement functions and service providers to accept the contribution of collateral abroad from resident investors.
Clearing and settlement functions and service providers may accept the provision of collateral abroad, provided that their total amount does not exceed 8% of the total.
Resolution 469 comes into force on the date of its official publication.
Sep. 1, 2025 BRZ CB Pix Required Information
On Sep. 1, 2025, BRZ CB issued Instruction 653 to amend Instruction 32, of 2020.
Pix participants must send information re Pix transactions settled in their systems, according to format specified in message TRCK.002, in the SPI Message Catalog.
Changed list of the information that must be sent periodically by Pix participants.
Instruction 653 comes into force on its publication date, taking effect from Nov. 25.
Nov. 19, 2025 BRZ CB SPI Module Access
On Nov. 19, 2025, BRZ CB issued Resolution 524 to amend Resolution 195, of 2022.
Access to SPI participants to SPI module of SPB-Web for consultation of data and registration re operational parameters in SPI and the management of their IP Account.
Promoted proper management of IP Account, 24 hours a day, every day of the year.
Resolution 524 shall come into force on Dec. 1, 2025.
Regulators
BRZ CB
Entity Types
B/D; Bank; CU; MSB; Thrift
Reference
OG, 11/19/2025; Res 524, 11/18/2025; OG, 9/1/2025; Ins 653, 8/28/2025; Res 469, 4/30/2025; Ins 569, 12/20/2024; Ins 529, 10/4/2024; Ins 439, 12/15/2023; Ins 384, 5/18/2023; Ins 383, 5/18/2023; Rpl Ins 369/2023; Ins 382, 5/16/2023; Ins 370, 4/10/2023; Res 304, 3/20/2023; Ins 350, 2/15/2023;
