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Breno Santana Lobo, the Deputy Chief of the BC Financial Market Competition and Structure Department, stated that the Central Bank did not specify a deadline for addressing issues following the announcement of new security measures for Pix. Failure to comply with regulations by banks may result in penalties.
The Central Bank will give financial institutions one month to comply with the new regulations after they have been widely circulated.
“We will repeat this integrity verification process later to take action against non-compliant banks, potentially imposing penalties if they do not adhere to the newly planned regulations set by the Central Bank,” stated Lobo.
A penalty of R$ 50,000 may be imposed for such violations, as reported by “InfoMoney”. Individuals or entities whose Pix keys have been suspended can reactivate them by resolving their registration issues and creating a new record with the institution.
Lobo emphasized the autarchy’s commitment to providing clear communication about Pix changes to prevent potential communication crises, such as those related to the Federal Revenue norm at the start of the year.
He also stressed that communication regarding changes will be carried out as routine by the monetary authority, without any special intervention.
Brazil’s external account deficit nearly doubled in January, according to the Central Bank.
Brazil experienced an $8.7 billion deficit in current transactions in January, indicating a substantial outflow of dollars in the country. This amount is nearly double the $4.4 billion deficit reported in January 2024, as disclosed by the Central Bank in its monthly publication on the external sector.
In the previous twelve months leading up to January, the current account deficit amounted to US$ 65.4 billion, representing 3.02% of the GDP.
The outcome shows a 166.9% rise from the previous year, when the deficit was $24.5 billion, equal to 1.11% of the GDP.
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