Featured Product

    BCB to Start First Cycle of Regulatory Sandbox

    December 16, 2020

    BCB announced timeline and specifications for the first project cycle of the regulatory sandbox environment. In this regard, BCB approved a Resolution that deals with the requirements for establishment and execution of the first cycle of the controlled test environment for financial and payment innovations (Regulatory Sandbox); the Resolution also addresses the procedures and requirements applicable to the classification and authorization for participation in the test environment. Entities interested in participating in this cycle can register from February 22, 2021 to March 19, 2021 through the BCB Digital Protocol system. The period of selection and authorization of participants in this cycle will be from March 22, 2021 to June 25, 2021.

    The first cycle will be limited to ten participants, though this number can be increased by up to 50% after analyzing the innovative projects. In addition, projects will be analyzed according to their degree of maturity, innovation, magnitude of risks,  technical-operational capacity, and governance structure of the entity interested in the development of solutions. According to the BCB Regulation director, Otávio Damaso. "The proposals will be evaluated according to the strategic priorities defined by BCB with a view to improving services and possibilities in the National Financial and Payments systems." BCB listed the following themes as priorities:

    • Fostering sustainable finance
    • Solutions for foreign-exchange market, open banking, Pix, rural credit market, and increasing competition in National Financial and Payments systems
    • Fostering credit for microentrepreneurs and small businesses and fostering capital market through mechanisms of synergy with the credit market
    • Financial and payment solutions with potential effects of stimulating financial inclusion

     

    Related Links (in Portuguese)

    Keywords: Americas, Brazil, Banking, Regulatory Sandbox, Fintech, Sustainable Finance, Regtech, ESG, Open Banking, Credit Risk, BCB

    Related Articles
    News

    PRA and FPC Finalize Changes to Leverage Ratio Framework in UK

    The Prudential Regulation Authority (PRA) published the final policy statement PS21/21 on the leverage ratio framework in the UK. PS21/21, which sets out the final policy of both the Financial Policy Committee (FPC) and PRA

    October 08, 2021 WebPage Regulatory News
    News

    CFPB Proposes Rule on Small Business Lending Data Collection

    The Consumer Financial Protection Bureau (CFPB) proposed to amend Regulation B to implement changes to the Equal Credit Opportunity Act (ECOA) under Section 1071 of the Dodd-Frank Act.

    October 08, 2021 WebPage Regulatory News
    News

    PRA Decides to Maintain O-SII Buffers for Another Year

    The Prudential Regulation Authority (PRA) decided to maintain, at the 2019 levels, the buffer rates for the Other Systemically Important Institutions (O-SII) for another year, with no new rates to be set until December 2023.

    October 08, 2021 WebPage Regulatory News
    News

    FSB Report Assesses Implementation of Recommendations on Stablecoins

    The Financial Stability Board (FSB) published a progress report on implementation of its high-level recommendations for the regulation, supervision, and oversight of global stablecoin arrangements.

    October 07, 2021 WebPage Regulatory News
    News

    APRA Updates Loan Serviceability Expectations for Home Lending

    In a letter to the authorized deposit taking institutions, the Australian Prudential Regulation Authority (APRA) announced an increase in the minimum interest rate buffer it expects banks to use when assessing the serviceability of home loan applications.

    October 06, 2021 WebPage Regulatory News
    News

    CPMI and IOSCO Consult on Guidance on Stablecoin Arrangements

    The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) are consulting on the preliminary guidance that clarifies that stablecoin arrangements should observe international standards for payment, clearing, and settlement systems.

    October 06, 2021 WebPage Regulatory News
    News

    EBA and EIOPA Set Out Work Priorities for 2022

    The European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) have set out their respective work priorities for 2022.

    October 05, 2021 WebPage Regulatory News
    News

    MFSA Issues Reporting Updates and Guidance for Banks

    The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0, in addition to the reporting module on leverage under the common reporting (COREP) framework.

    October 05, 2021 WebPage Regulatory News
    News

    EC Publishes Decision on List of Equivalent Third Countries Under CRR

    The European Commission (EC) published the Implementing Decision 2021/1753 on the equivalence of supervisory and regulatory requirements of certain third countries and territories for the purposes of the treatment of exposures, in accordance with the Capital Requirements Regulation or CRR (575/2013).

    October 04, 2021 WebPage Regulatory News
    News

    EC Rule on Contractual Recognition of Write-Down and Conversion Powers

    EC published the Implementing Regulation 2021/1751, which lays down implementing technical standards on uniform formats and templates for notification of determination of the impracticability of including contractual recognition of write-down and conversion powers.

    October 04, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7552