BCB Normative Instruction no. 231, of January 25, 2022 – Requirements for sending documents to DEORF

Normative Instruction of the Central Bank of Brazil (“BCB”) No. 231, issued on January 25, 2022, was published on January 28, 2022 in the Federal Official Gazette of Brazil (“BCB Rule 231”). As determined by its text, it will come into force on March 25, 2022.

BCB Rule 231 adds paragraphs 3 and 4 to Article 3 of the BCB Normative Instruction No. 77, of February 11, 2021, to establish that the requests, letters, authorizations, and statements addressed to the Financial System Organization Department (Deorf) of BCB must contain:

  • Name of the subscribers;
  • Individual Taxpayer  Identification  Number (CPF) of the subscribers; and
  • Digital signature of the subscribers.

Additionally, with respect to the digital signature of the aforementioned documents, BCB Rule 231 establishes that such signature must be carried out through:

  • Digital certificate of the Brazilian Public Key Infrastructure (ICP-Brasil), in the PAdES standard; or
  • br account with silver or gold security level.

PAdES (PDF Advanced Electronic Signature) is a digital signature standard made available by ICP-Brasil exclusively for digital signature of electronic documents in PDF format. To learn more about this signature standard, please access the following link.

The gov.br account, on the other hand, is an electronic identification instrument that can digitally verify the identity of its holder. The account adopts three different tier structures: bronze, silver, and gold. The difference between these levels lies in how the account is created, the amount of validated user data, and which databases may be consulted. To learn more about the levels of authentication, access the following link.

The full text of BCB Rule 231 can be accessed through this link.

Demarest’s Banking and Finance team is available to provide any further clarifications that may be necessary.