SAO PAULO – The Central Bank (BC) released, through BCB Resolution No. 138, the minimum scope of data to be shared in phase 4 of the Open Banking, scheduled to start on December 15th.
This stage covers the sharing of data on foreign exchange, accreditation service, investment, insurance and pensions, and at this beginning, participating institutions must make public information about the products and services they make available related to the aforementioned scope.
According to the Central Bank, among the investment products, data may be shared on:
- a) Bank Deposit Certificate (CDB);
- b) Bank Deposit Receipt (RDB);
- c) Real Estate Credit Bills (LCI);
- d) Agribusiness Letters of Credit (LCA);
- e) investment fund shares;
- f) federal public bonds made available by the Treasury Direct;
- g) actions;
- h) shares of index funds listed on a stock exchange;
- i) debentures;
- j) Certificates of Real Estate Receivables (CRI); and
- k) Agribusiness Receivables Certificates (CRA).
Regarding exchange operations, the following data will be shared: Total Effective Value (VET) and exchange rate. Accreditation data, in turn, include fees and service charges.
The data referring to insurance and open supplementary pension will follow the scope defined by the Superintendence of Private Insurance (SUSEP) – the InfoMoney already explained how Open Insurance should work in a recent report.
Also, with phase 4, Open Banking starts sharing a set of information in addition to traditional banking products and services, which marks the beginning of its migration to Open Finance.
O InfoMoney published a special explaining what the financial world will be like with the arrival of Open Finance and he also invited economist Ricardo Amorim to present his perspective on the subject. Look:
It is worth remembering that, currently, phase 2 of Open Banking is in effect for a very small portion of the population, and that phase 3 starts on October 29th after a postponement of deadlines due to requests from participating institutions.