The Central Bank has changed the rules on receivables discounting operations by means of CMN Resolution 4,853, of 24.09.2020.
Under the new regulations, the discount operations of payment arrangement receivables may be carried out with or without co-obligation.
Furthermore, it expressly left the possibility of establishing a financial or payment institution for the financial settlement of receivables object of discount or given as guarantee of the credit operation, as well as guaranteeing the possibility of post-contracted anticipation, by the accrediting or sub-accrediting institution, of the constituted receivables given as guarantee of the credit operation, respecting the financial or payment institution specified for the settlement of the anticipated amounts.
The normative rule established that the financial or payment institution participates directly or indirectly in the clearing and settlement systems authorized by the Central Bank in which the payment arrangement creators have implemented the centralized clearing and settlement of payment transactions carried out under the arrangements that are members of the SPB.
There was also a change in relation to the deconstitution of the liens and encumbrances, by the beneficiary financial institutions, which must remove the surplus value of the constituted receivables kept in guarantee of the operation of concession of credit limit that cannot be cancelled unconditionally and unilaterally by the financial institution in: a) up to one business day after the request for release of liens and encumbrances by the receiving end user, when the request occurs directly at the beneficiary financial institution; or b) up to two business days after the request for release of liens and encumbrances by the receiving end user, when the request occurs indirectly.
For further information, the Payment team is at your disposal.
