Normative Instruction BCB No. 17 of 9/18/2020 - Operation of the SPI

The Bacen has just published BCB Normative Ruling no. 17 of September 18, 2020, disclosing the operating procedures for making functionalities available and the operating hours for the Instant Payment System (SPI), in a production environment, which will be observed until it reaches full operation.

From October 21 and until November 2, 2020, the SPI will be available on weekdays, from 9 a.m. to 6 p.m., to institutions approved in the approval stage for direct participation in the SPI, exclusively for sending messages from:

I - connectivity (messages PIBR.001 and PIBR.002);

II - registration and discontinuation of settlement service for indirect participant (messages REDA.014, REDA.016, REDA.017 and REDA.031); and

III - sending of information on the data of those responsible for operating the Instant Payment Account (PI Account) (REDA.022 message).

As a prerequisite to sending messages in the SPI production environment, participants must submit the digital signature (CERTPIA) and channel encryption (CERTPIC) certificates as of October 21, 2020.

The Central Bank of Brazil shall make available on its website, as from October 21, 2020, a daily updated file containing the list of direct and indirect participants registered in the SPI production environment.

Between November 3 and 15, 2020, the SPI shall be available for settlement of credit orders and other functionalities, subject to the limitations described in this article.

As of 6:30 a.m. on November 16, 2020, SPI will go into full operation.