At fintechs (startups of the financial sector) of larger sizes will comply with the requirements of traditional banks to prevent risks to the functioning of the financial system, announced today (11), in Brasília, the Central Bank (BC). The standards will take effect in January 2023 and will be gradually implemented until January 2025. startup is an innovative company.
With the new rules, the quality of the minimum capital to start operations of payment institutions, which offer services such as digital wallet, has been increased. Capital requirements are necessary to ensure the financial security of the institution in a stressful situation in the market, when the volume of withdrawals increases.
The new regulation mainly affects payment institutions with strong growth in recent years, such as Nubank, PagSeguro, PicPay and Stone. According to the BC, the offer of new financial services by these fintechs [empresas de inovação tecnológica no setor financeiro] made it necessary to improve the rules. This is because payment institutions, little by little, started to create subsidiaries that carry out activities similar to those of banks.
The tightening of bonds will be proportionate to the size of the payment institution. Larger companies to haveto meet more requirements. The least complex institutions to haveThere are simpler rules.
In relation to minimum capital, the quality requirement was increased. Assets that contribute little to the institution’s financial security in stressful situations, such as tax credits (taxes receivable) or intangible assets (which cannot be sold on the market), will no longer be included in the calculation of minimum capital.
To facilitate the entry of new fintechs into the market, the BC stressed that companies that operate in the payments sector and are not linked to financial institutions to haveare simplified rules. According to the agency, this will preserve the entry of competitors that bring innovative services and products to the financial market.
Payment institutions that enter the market will be able to register intangible assets in regulatory capital within the first 12 months of operation, immediately after receiving authorization from the BC. In the following 12 months, only half of these assets can be registered in the minimum capital requirements.
Risk assessment
In the case of groups that operate financial and payment institutions, the risk assessment and capital requirement will now consider the entire conglomerate. In the coming months, the National Monetary Council (CMN) will pass resolutions to implement the new rules. Financial institutions with payment activities, such as digital wallets, also to haveare the increased requirements.
The BC also announced that it intends to tighten the rules for the operation of credit cards. Until now, this segment is treated as a means of payment. In the coming years, the rules will be adjusted to give hybrid treatment of means of payment and credit concession to card companies.
