Brazil central bank postpones higher capital requirements for fintechs to July 2023

PagSeguro Digital

18/11/2022 12:39

BRASILIA, Nov 18 (Reuters) - Brazil's central bank
announced on Friday the postponement of higher capital
requirements for fintechs to July 2023, after establishing
tougher rules for payment institutions based on their size and
complexity that would start in January. 
    "The development and necessary adjustments in management
systems and generation of prudential information by regulated
institutions will require a longer period of adaptation than
initially indicated by the regulator," said the central bank in
a statement. 
 (Reporting by Marcela Ayres
Editing by Mark Potter)
 ((marcela.ayres@thomsonreuters.com; +55 11 5047-2444;))