Financial Market: main news from 13 to 17/04
1. BCB and CVM expanded technical cooperation to improve credit data sharing
Last Monday (13), the BCB and CVM announced the signing of a new technical cooperation agreement, this time aimed at enhancing the sharing of information on credit operations in the country, with a focus on standardizing, improving, and expanding the database used in macroprudential supervision by both authorities. The initiative expands practices that have already been implemented and consolidated, including the submission of information by Credit Rights Investment Funds (FIDCs) to the Credit Information System (SCR), and provides for the receipt of data from other entities regulated by the CVM, such as securitization companies, in order to offer a more comprehensive view of indebtedness and to support supervision and macroprudential analyses. According to the BCB and the CVM, the expansion of the informational repository as a result of the cooperation agreement is expected to improve credit analysis by securitization companies and investment funds, as well as reduce information asymmetries in the Brazilian financial and capital markets.
Central Bank and CVM strengthen cooperation to improve credit information in the country
2. BCB sets rules and timelines for production testing of the “optimized journey” for payment initiation in Open Finance
On Thursday (16), the BCB issued Normative Instruction No. 725, which provides guidance, conditions, and timelines for production testing of the optimized payment initiation journey with data sharing in Open Finance. The regulation provides that the offering of this service is optional for data recipient institutions and payment initiation service providers, while data transmitting institutions and account-holding institutions must make the corresponding customer journeys available, in accordance with the scope defined in the regulation. With respect to the timeline, it was established that production testing will begin on April 22, 2026, on a limited basis, and that the service will be available to the general public as of June 22, 2026..
3. BCB considers limits and rule changes for funding via insured deposits
On Wednesday (15), the BCB Regulation Director, Gilneu Vivan, said that for 2026 the BCB is discussing improvements to the rules governing funding through insured deposits, including setting limits on leverage associated with these instruments. The director also indicated that the BCB may review the rules for the distribution of financial assets and the structure of the deposit guarantee system, especially in light of 2025 events involving institutions that expanded their funding by leveraging products backed by FGC coverage. The remarks were made at an event hosted by the Brazilian Association of Fintechs (ABFintechs) and are part of a broader regulatory agenda, including fraud, cybersecurity, fees, and foreign exchange.
Central Bank discusses improving rules for attracting secured deposits, says Central Bank director
4. Abecs proposes a “click-to-pay” solution through payment initiation service providers to bring cards into Open Finance
The Brazilian Association for Credit Cards and Services Companies (Abecs) is developing a “click-to-pay” solution via payment initiation service providers to integrate card transactions into the Open Finance ecosystem. The association expects to formalize its position on the solution within the next 60 days, then submit the proposal to the BCB to advance discussions and support potential regulations. According to Abecs, the proposal aims to expand the use of Payment Transaction Initiators (ITPs) beyond Pix, creating a revenue stream for these players and enabling card-based transactions within Open Finance. Currently, payment initiation in Open Finance occurs only via Pix. In 2025, Pix-based payment initiation reached BRL 15.3 billion (up from BRL 3.2 billion in 2024), and the number of institutions eligible to operate as ITPs rose to around 60.
5. PF flags rise in banking malware and AI-enabled fraud, and invite institutions to join the national anti-fraud platform
On Wednesday (15), during the Electronic Payments Congress promoted by Abecs, Federal Police (PF) agent Gustavo Pires de Sá warned about the rising incidence of digital fraud and said that 8 of every 13 banking malware strains produced worldwide originate in Brazil. He noted that one such malware family accounts for roughly 5% of global banking trojans and affects around 1,700 financial institutions. The PF representative also highlighted the “ghost tap” scam, which exploits contactless payments, and the growing use of artificial intelligence in fraud, citing an 830% increase in deepfakes between 2024 and 2025 and stating that 42.5% of financial fraud already involves AI. Additionally, the PF representative reiterated its invitation for banking-sector institutions to integrate with the Tentáculos Platform, a national system designed for intelligent anti-fraud efforts, and referenced its cooperation agreement with Abecs to support onboarding and sector integration into the platform.
Brazil is the world's largest producer of banking malware, says Federal Police
