Financial Market: main news from 22 to 26/06
1. BCB launches “optimized journey” and expands balance and credit limit sharing in Open Finance
Last Monday (22), a new Open Finance feature came into effect allowing customers to choose to share available balance and credit limit data when connecting their account to contactless Pix in digital wallets or when authorizing automatic transfers between accounts held by the same owner. The so-called “optimized journey” combines, in a single step, consent for data sharing and authorization to link the account to the payment service, which were previously handled separately. According to BCB, the initiative aims to increase the effectiveness of payments via Open Finance, as insufficient balance is one of the main reasons transactions fail. The feature is optional, depends on the customer’s express authorization, and may be revoked at any time. For the BCB, the change also creates room for new products and smoother checkout solutions, with lower payment abandonment and faster purchase completion.
Greater efficiency in payments through the use of Open Finance
Pix via proximity: new Open Finance integration allows sharing of balance and credit limit data
2. BCB regulates succession policy for senior management positions
Last Tuesday (23), BCB published BCB Resolution No. 576, which sets rules for the succession policy of administrators at consortium administrators, foreign exchange brokers, securities brokers and dealers, payment institutions, and virtual asset service providers. This resolution requires these institutions to implement a policy compatible with their size, complexity, risk profile, and business model, covering processes for the recruitment, promotion, election, and retention of administrators. The policy must set out minimum criteria for assessing candidates, such as technical and managerial capacity, experience, interpersonal skills, legal and regulatory requirements, and knowledge of the responsibilities of the position. The text also determines that the policy must be approved and supervised by the board of directors or, in its absence, by the executive board, with review at least every five years or upon the occurrence of relevant events. The resolution takes effect on January 1, 2027.
3. BCB to launch electronic trade receivable ecosystem
Last Wednesday (24), the BCB announced the launch of the electronic trade receivables ecosystem, scheduled for June 30 in Brasília, marking the start of trading of these instruments in the Brazilian credit market. According to the BCB, the ecosystem’s entry into operation represents a new stage of maturity for the project and should bring benefits such as reduced information asymmetries, greater legal certainty in transactions, and a potential reduction in the cost of credit, with concrete effects on the real economy. The event will include the participation of the BCB’s Deputy Governor for Regulation and Deputy Governor for Financial System Organization and Resolution, as well as representatives from the Ministry of Finance, the productive sector, and the financial system.
The Central Bank will launch an ecosystem for electronic promissory notes on June 30th
4. Federal Police see similarities between Digimais and Master, increasing pressure on the FGC
Last Tuesday (23), the Federal Police launched Operation Miragem to investigate suspected crimes against the National Financial System involving Banco Digimais, linked to Bishop Edir Macedo. According to the Federal Police, the institution replicated a strategy similar to that of Banco Master, raising retail funding through CDBs and other securities offering above-market returns, while using the Credit Guarantee Fund (FGC) coverage as an attraction factor. The investigation points to signs of manipulation of balance sheets and accounting records to conceal the bank’s actual financial situation, overvaluation of assets, and prohibited transactions with related parties. The BCB had already been investigating possible irregularities since 2023, including transactions involving court-ordered government payment claims through structured funds, whose assets were allegedly artificially increased from BRL 71 million to around BRL 741 million. As part of the operation, nine search and seizure warrants were executed, and the blocking of up to BRL 670 million in assets of those under investigation was authorized. The case increases pressure on the FGC, which has already been affected by liquidations associated with Banco Master
Edir Macedo's Digimais bank replicated Master's 'modus operandi', says Federal Police
Digimais repeated Master's tactic by using the FGC, says Federal Police
Any intervention in Digimais would increase the bill for FGC
Following the Master scandal, Digimais increases pressure on FGC
5. ANBIMA releases Q&A on integration of Pre-matching with trading platforms
Last Tuesday (23), the Brazilian Financial and Capital Markets Association (ANBIMA) released a Q&A document on the integration of the Pre-matching platform with electronic trading platforms. Pre-matching matches trades between financial institutions before registration with Selic, a process that currently depends on manual confirmation by phone or email. Starting in the second half of this year, the tool will include automation for receiving trade information directly from trading platforms. According to Selic’s superintendent, the objective of the change is to simplify the transaction registration flow, eliminating the need for institutions to manually re-enter data and specifications already processed in the trading environment. The document consolidates the information presented to the market in an open meeting held on May 27 and can be accessed through Selic Conecta, Selic’s digital API documentation catalog.
